Which of the following statements is not true about continuous audit?

It is conducted at regular interval.

No worries! We‘ve got your back. Try BYJU‘S free classes today!

It is needed when the organisation has a good internal control system.

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

It may be carried out on daily basis.

No worries! We‘ve got your back. Try BYJU‘S free classes today!

It is expensive.

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is D It is needed when the organisation has a good internal control system.
Continuous audit is generally technology driven and process is set in such a way to automate error checking and verification on real time basis.
It is a continuous process and done on a regular basis.
Hence it is not a correct statement that it is needed when the organization has a good internal control system.

Suggest Corrections

Similar questions

Q. A function

f (x)

is continuous in interval

[0, 2]

. It is known that

f (0) = f (2) = - 1

and

f (1) = 1

. Which one of the following statements must be true?

Q. Given the following statements about a function f: R

\to

R, select the right option.

P : If f(x) is continuous at x = x

_{0}

, then it is also differentiable at x = x

_{0}

Q : If f(x) is continuous at x = x

_{0}

, then it may not be differentiable at x = x

_{0}

.

R : If f(x) is differentiable at x = x

_{0}

, then it is continuous at x = x

_{0}

As the tortoise tucks its feet and head inside the shell and will not come out even though you may break the shell into pieces, even so the character of the man who has control over his motives and organs is unchangeably established. He controls his own inner forces, and nothing can draw them out against his will. By this continuous reflex of good thoughts and good impressions moving over the surface of the mind, the tendency to do good becomes strong, and in consequence, we are able to control the Indriyas or sense organs.

Q. Which of the following statements may be assumed to reflect the central theme of the passage?

Q. if a continuous function f(x) does not have a root in the interval

[a, b]

, then which one of the following statements is TRUE?

Q. Which one of the following function is continuous everywhere in its domain but has at least one point where it is not differentiable?

Join BYJU'S Learning Program