NIFT PG 2013 Question Paper with solutions

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Directions (Qs. 134–138): Each of these questions has a text portion followed by four alternative summaries. Choose the option that best captures the essence of the text.

Question : 135 of 150

Marks: +1, -0

Auditors are called the conscience keepers of society. Every time there is a scam in the corporate world, auditor’s role comes under the scanner. Society expects that once a financial statement has been certified by an auditor, the latter is liable for it. And the auditor believes that once he has carried out his duties as per parameters, he need not go beyond that. The need of the hour is to hold them accountable for their actions.

Auditor’s job is to verify the company’s accounts as per parameters
Auditors are not responsible for financial bungling in company’s accounts if any vital information is concealed by the management.
Whenever any scam surfaces, auditors role comes under scan.
It is high time that auditors’ role is redefined to make them accountable along with that of management

Validate

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