Q216
Verification of financial statements is
A.
external audit
B.
internal audit
AnswerC.
management audit
D.
financial audit
Answer: Option B
Solution
Answer: Option B
Solution:
Verification of financial statements is internal audit. Internal audits evaluate a company’s internal controls, including its corporate governance and accounting processes. They ensure compliance with laws and regulations and help to maintain accurate and timely financial reporting and data collection.