Which of the following is not one of the major differences between financial and operational auditing?
A) The financial audit is oriented to the past, but an operational audit concerns performance for the future.
B) The financial audit report has widespread distribution, but the operational audit report has limited distribution.
C) Financial audits deal with the information on the financial statements, but operational audits are concerned with the information in the ledgers.
D) Financial audits are limited to matters that directly affect the fairness of the financial statement presentation, but operational audits cover any aspect of efficiency and effectiveness.

Question

Quizplus · Accepted Answer

Financial audits deal with the information on the financial statements, while operational audits are concerned with the efficiency and effectiveness of operations in areas such as production, marketing, and management. Operational audits do not typically focus on the information in ledgers specifically, therefore option C is not a major difference between financial and operational auditing.

Which of the Following Is Not One of the Major