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Question
Audit of a bank is generally conducted through _________.
Audit of a bank is generally conducted through _________.
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Solution
The correct option is D Balance sheet audit
Balance sheet audit is generally conducted at the end of the financial year once the books of account of the organization are finalized. This requires the verification of assets and liabilities. In case banks, audit is conducted to have an overall review of loans and advances given to the public and deposits taken from public.
Balance sheet audit is generally conducted at the end of the financial year once the books of account of the organization are finalized. This requires the verification of assets and liabilities.
In case banks, audit is conducted to have an overall review of loans and advances given to the public and deposits taken from public.
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