2025 · Q90
Which one of the following is not the objective of verification in auditing?
General Accounting Principles, Auditing and InsuranceFinal accounts
- AChecking the historical accuracy of accounts
- BVerification of the existence of the assets
- CVerification of the valuation of the assets
- DVerification of the authority of the acquisition of the assets
Explanation
Verification in auditing aims at confirming the existence, ownership and valuation of assets (and liabilities). Checking the historical accuracy of accounts is the objective of vouching, not of verification, so A is not an objective of verification.