Can anybody give the answer for this statement for 2 marks
This query is : Resolved
06 August 2010
iv) Auditor of Holding Company and its Subsidiaries is always the same.
and
v) 100% vouching ensures 100% effectiveness as regards to verification.
and
v) 100% vouching ensures 100% effectiveness as regards to verification.
Aditya Maheshwari
(Expert)
06 August 2010
1. Auditor of Holding Company and its Subsidiaries companies can be different.
2. Mostly everywhere test check vouching is done as it is not feasible to vouch 100% of vouchers everywhere.
2. Mostly everywhere test check vouching is done as it is not feasible to vouch 100% of vouchers everywhere.
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