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

Question

Quizplus · Accepted Answer

The primary concern in auditing accounting data is to determine whether the recorded information properly reflects the economic events that occurred during the accounting period. While preventing and detecting fraud is also an important aspect of auditing, it is not necessarily the primary concern. Similarly, analysing nonfinancial information for government compliance and calculating taxable income are important tasks but not the main focus of auditing accounting data.

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