Audit done by the employees of the business undertaking is called ........

Auditing Audit and auditor's report

Download Solution PDF

Audit done by the employees of the business undertaking is called _______.

Final audit

Management Audit

Government Audit

Internal Audit

छोटे Courses बड़े Results

Master Audit and auditor's report

Prepare through Micro-courses

Try Now

Explanation:

- Internal Audit is conducted by employees within the business. It helps organizations monitor and improve their internal processes, risk management, and governance.

- Correct Answer: Option 4 - Internal Audit

- Final Audit is an audit conducted at the end of the financial period, aiming to present an exact view of the financial health with no corrections anticipated after the review.

- Management Audit assesses an organization's management effectiveness to ensure goals are met. It focuses on review functions rather than just financial affairs.

- Government Audit involves checking the accounts of government bodies and publicly funded operations, ensuring public resources are used efficiently.