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What is Auditing? Or which types of Auditing Mcqs are there?

Auditing is inspecting an organizations financial records to ensure they are accurate and compliant with regulations. Auditors may also provide other forms of assurance such as on the effectiveness of internal controls or the quality of management. Auditing is a critical function in helping organizations to run smoothly and transparently.

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The different types of Auditing Mcqs:

There are four different types of Auditing Mcqs:

Financial Auditing

Operational Auditing

Compliance auditing

Information systems auditing

Financial Auditing is the most common type of Auditing. It is conducted to ensure that an organization financial statements are accurate and compliant with generally accepted accounting principles (GAAP). Operational Auditing is conducted to assess an organizations internal controls and procedures. Compliance auditing ensures that an organization complies with laws and regulations. Information systems auditing assesses the security and powers of an organization computer systems.