Home MCQs SSC Audit Tax Finance P-II Question #1214
Back to Questions
SSC Audit Tax Finance P-II QUESTION #1214
Question 1
The fundamental objective of the audit of a company is to:
  • Protect the interests of the minority shareholders
  • Detect and prevent errors and fraud
  • Assess the effectiveness of the company's performance
  • Attest to the credibility of the company's accounts✔️
Correct Answer Explanation
The primary/fundamental objective of an audit is to enable the auditor to express an independent opinion on whether the financial statements give a true and fair view — i.e., to attest to the credibility of the company's accounts. Detecting fraud is a secondary/incidental objective.