BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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To certify Statutory reports
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To maintain books of accounts of banks
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To help the investigator
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To maintain confidentiality
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Detailed explanation-1: -The auditor has no responsibility to plan and perform the audit to obtain reasonable assurance that misstatements, whether caused by errors or fraud, that are not material to the financial statements are detected.
Detailed explanation-2: -A bank auditor is an accounting specialist who evaluates the accuracy, completeness and legitimacy of a bank’s financial records. They ensure banks comply with their own procedures and with state and federal finance laws.
Detailed explanation-3: -The auditor’s objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes the auditor’s opinion.