Which of the following is not correct about investigation?

CS CSEET · Business Economics & Fundamentals of Accounting and Auditing · PYQS · June 2013
Which of the following is not correct about investigation?
(A) Investigation may be done by any person having the knowledge of entity's business
(B) Investigation is mandatory in nature and needs to be done on yearly basis
(C) The scope of investigation is decided by the appointing authority
(D) There is no standard format of investigation report.

Answer & Explanation:

Correct Answer: Option (B)

Correct answer: (B) Investigation is mandatory in nature and needs to be done on yearly basis.

Topics: Auditing

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