In 'auditing' accounting data, the primary concern is with:
A) determining whether recorded information properly reflects the economic events that occurred during the accounting period.
B) analysing the nonfinancial information to be sure that it complies with government requirements.
C) determining if taxable income has been calculated correctly.
D) determining if fraud has occurred.

Question

Quizplus · Accepted Answer

The primary concern of auditing is to ensure that the recorded information in the financial statements accurately reflects the economic events that occurred during the accounting period. This includes checking for errors, omissions, misstatements, and fraud. While tax compliance may be a secondary concern, it is not the primary focus of auditing. Additionally, while fraud detection is important, it is not the only concern in auditing.

In 'Auditing' Accounting Data, the Primary Concern Is With