B Com Exam > B Com Videos > Auditing and Secretarial Practice > Auditing vs Investigation - Auditing Concepts, Auditing and Secretarial Practice
Auditing vs Investigation - Auditing Concepts, Auditing and Secretarial Practice Video Lecture | Auditing and Secretarial Practice - B Com
|
55 videos|53 docs|24 tests
|
FAQs on Auditing vs Investigation - Auditing Concepts, Auditing and Secretarial Practice Video Lecture - Auditing and Secretarial Practice - B Com
| 1. What is the difference between auditing and investigation? |  |
Ans. Auditing refers to the systematic examination of financial records, statements, and transactions to ensure accuracy, reliability, and compliance with laws and regulations. It is conducted by auditors who assess the financial health and internal controls of an organization. On the other hand, investigation is a process of in-depth examination and analysis of specific financial or non-financial issues, usually in response to suspected fraud, misconduct, or irregularities.
| 2. How does auditing help in ensuring compliance with laws and regulations? | |
Ans. Auditing plays a crucial role in ensuring compliance with laws and regulations. Auditors review and assess the internal control systems of an organization to identify any weaknesses or non-compliance. By conducting regular audits, organizations can identify and rectify any non-compliance issues, reducing the risk of penalties, legal actions, and damage to reputation.
| 3. What are the key responsibilities of auditors in secretarial practice? | |
Ans. In secretarial practice, auditors have specific responsibilities, including:
- Reviewing and verifying the accuracy of minutes and resolutions of board meetings and general meetings.
- Assessing the compliance of the company's secretarial practices with applicable laws and regulations.
- Examining the company's statutory registers and records to ensure completeness and accuracy.
- Verifying the proper maintenance of share registers, debenture registers, and other related records.
- Assessing the effectiveness of the company's corporate governance practices.
| 4. Can an investigation be conducted without an audit? | |
Ans. Yes, an investigation can be conducted without an audit. While audits are generally conducted periodically to provide an overall assessment of an organization's financial health and internal controls, investigations are usually conducted in response to specific incidents or suspicions of fraud, misconduct, or irregularities. Investigations may focus on a particular area or transaction, whereas audits provide a comprehensive review of an organization's financial statements and transactions.
| 5. How does auditing contribute to organizational transparency and accountability? | |
Ans. Auditing contributes to organizational transparency and accountability by providing an independent and objective assessment of an organization's financial records and practices. Through audits, organizations can identify and rectify any errors, irregularities, or non-compliance, ensuring accurate and reliable financial reporting. This promotes transparency by providing stakeholders with a clear understanding of the organization's financial position and performance. Additionally, audits help establish accountability by holding management responsible for maintaining accurate records and complying with laws and regulations.
Related Exams
About this Video
|
4.83/5 Rating |
|
Nov 16, 2024 Last updated |
Video Description: Auditing vs Investigation - Auditing Concepts, Auditing and Secretarial Practice for B Com 2024 is part of Auditing and Secretarial Practice preparation.
The notes and questions for Auditing vs Investigation - Auditing Concepts, Auditing and Secretarial Practice have been prepared according to the B Com exam syllabus.
Information about Auditing vs Investigation - Auditing Concepts, Auditing and Secretarial Practice covers all important topics for B Com 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Auditing vs Investigation - Auditing Concepts, Auditing and Secretarial Practice.
Introduction of Auditing vs Investigation - Auditing Concepts, Auditing and Secretarial Practice in English is available as part of our Auditing and Secretarial Practice for B Com & Auditing vs Investigation - Auditing Concepts, Auditing and Secretarial Practice in
Hindi for Auditing and Secretarial Practice course. Download more important topics related with notes, lectures and mock test series for
B Com Exam by signing up for free.
Description
Video Lecture & Questions for Auditing vs Investigation - Auditing Concepts, Auditing and Secretarial Practice Video Lecture | Auditing and Secretarial Practice - B Com - B Com full syllabus preparation | Free video for B Com exam to prepare for Auditing and Secretarial Practice.
Information about Auditing vs Investigation - Auditing Concepts, Auditing and Secretarial Practice
Here you can find the meaning of Auditing vs Investigation - Auditing Concepts, Auditing and Secretarial Practice defined & explained in the simplest way possible.
Besides explaining types of Auditing vs Investigation - Auditing Concepts, Auditing and Secretarial Practice theory, EduRev gives you an ample number of questions to practice Auditing vs Investigation - Auditing Concepts, Auditing and Secretarial Practice tests,
examples and also practice B Com tests.
|
55 videos|53 docs|24 tests
|
|
Explore Courses for B Com exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
Auditing and Secretarial Practice Video Lecture | Auditing and Secretarial Practice - B Com
,Auditing and Secretarial Practice Video Lecture | Auditing and Secretarial Practice - B Com
,shortcuts and tricks
,ppt
,video lectures
,Exam
,MCQs
,Summary
,Viva Questions
,Previous Year Questions with Solutions
,Objective type Questions
,Auditing vs Investigation - Auditing Concepts
,Auditing vs Investigation - Auditing Concepts
,Auditing and Secretarial Practice Video Lecture | Auditing and Secretarial Practice - B Com
,Sample Paper
,Free
,study material
,Auditing vs Investigation - Auditing Concepts
,Semester Notes
,mock tests for examination
,past year papers
,Important questions
,Extra Questions
,practice quizzes
;
Study Auditing vs Investigation - Auditing Concepts, Auditing and Secretarial Practice on the App
Students of B Com can study Auditing vs Investigation - Auditing Concepts, Auditing and Secretarial Practice alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Auditing vs Investigation - Auditing Concepts, Auditing and Secretarial Practice,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Auditing vs Investigation - Auditing Concepts, Auditing and Secretarial Practice is prepared as per the latest B Com syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up
within 7 days!
within 7 days!
Takes less than 10 seconds to signup