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

Question

Quizplus · Accepted Answer

The main concern in auditing accounting data is to ensure that the recorded information accurately reflects the economic events that took place during the accounting period. This includes verifying the accuracy and completeness of financial statements, transactions, and other relevant information. While fraud detection is a part of auditing, it is not the primary focus. Auditing does not involve tax calculations or government compliance review as well.

In Auditing Accounting Data, the Concern Is with