An audit is done for the purpose of determining whether there has been any fraud.

Name: An audit is done for the purpose of determining whether there has been any fraud.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

While an audit may detect fraud if it exists, that is not its primary purpose. The primary purpose of an audit is to examine financial records and statements to determine their accuracy and compliance with accounting standards and regulations.

An Audit Is Done for the Purpose of Determining Whether