Question

Who are the users of

1-Operational audit report

2-Compliance Audit Report

3-Financial Statement audit report.

Choose from the drop -down list and then check answer

a. Collection agent

b. Accounting staff of the organization

c. Purchasing agent

d. Different groups for different purposes-many outside entities

e. Authority setting down​ procedures, internal or external f. Management of the organization

Answer 1

1.

Answer: f

This is the audit for understanding whether the operating system is effective and efficient – such as a search for whether the waste is in the minimum level. Management is the user of such audit report, since they are responsible of conducting a good operation.

2.

Answer: e

This is the audit for understanding whether the operating system is following the system which is set by the authority – suppose whether the system fully autonomous now or having some labor orientation. Top authority of an organization is the user of this report.

3.

Answer: d

This is the audit of external auditor who has appointed to do audit by the organization. The auditor check all information of income statement, statement of retained earnings, balance sheet, and cash flow statement and then give such report. Many internal users (like employees and management) and outside users (like suppliers, banks, tax authority, etc.) are the users of this report.