An Auditor makes effort to detect mainly following types of fraud

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UP TGT Commerce 2019 Official Paper
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  1. Misappropriation of cash
  2. Misappropriation of goods
  3. Frauds in books of accounts
  4. All of the above

Answer (Detailed Solution Below)

Option 4 : All of the above
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The correct answer is All of the above

Key Points

  • An auditor is a person who checks the accuracy of transactions that have been documented in business.
  • Auditors are required to ensure that procedures are being followed and that an organization's financial statements accurately reflect its operational and financial results.
  • They mostly work on audits, which check the accuracy of financial records and the way they are presented in associated financial reports.

Important PointsFollowing types of fraud are checked by an auditor:

  • Misappropriation or embezzlement of cash
  • Misappropriation of Goods
  • Fraudulent Manipulation of Accounts
  • Teeming & Lading
  • Window Dressing
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