Sir in TEST audit ,why TEST word is used ,I am confused about the clarity of word TEST as it has been used at many places in audit e.g test count ,test verification,test checking, test of control,test audit etc..

1 answer

Ravi Staff April 29, 2018

TEST Audit is word used in Company Act 2013 / Here they have used this word, because objective , scope everything is decided by CAG on selective basis as they deem fit and required. 
Test Count / Test Checking / Test of Controls are words used in Standards of Auditing again it denotes not to check everything but to check few things, but here in financial audit you have to make opinion on whole financial statements. 
please comment back here in answer section, if you need further clarificaiton


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