Q.6 Write the two main objectives of auditing / अंकेक्षण के दो मुख्य उद्देश्य लिखिए।
Ans : There are two main objectives of auditing. The primary objective and the secondary or incidental objective.
a. Primary objective – as per Section 227 of the Companies Act 1956, the primary duty (objective) of the auditor is to report to the owners whether the balance sheet gives a true and fair view of the Company’s state of affairs and the profit and loss A/c gives a correct figure of profit of loss for the financial year.
b. Secondary objective – it is also called the incidental objective as it is incidental to the satisfaction of the main objective. The incidental objective of auditing are:
i. Detection and prevention of Frauds, and
ii. Detection and prevention of Errors.
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