
Within a framework of recognised accounting policies and (a) The objective of an audit of financial statements, prepared Or State the objectives of Audit according to SA 200. 2 The objective of an audit of financial statements, prepared within a framework of recognised accounting policies and practices and relevant statutory requirements, if any, is to enable an auditor to express an opinion on such financial statements. (f) Financial statements reflect true and fair view of financial (e) Amounts shown in financial statements are properly classified,ĭescribed and disclosures are made in conformity with (d) Information contained in the financial statements is clear and (c) All transactions are being recorded in books of account, i.

(b) Sufficient and Appropriate evidences are available for entries "Marks Distribution of Past Exams (New Syllabus)" Chapter 1 Nature, Objective and Scope of Audit Compiled by: Pankaj Garg 1 “An audit is independent examination of financial information of anyĮntity, whether profit oriented or not, and irrespective of its size or legalįorm, when such an examination is conducted with a view to expressingĮxplain stating clearly how the person conducting this task should takeĬare to ensure that financial statements would not mislead anybody.

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