Karnavat & Co. Articleship Interview Questions and Answers

Standards on auditing and accounting standards

• Standards on auditing are guidelines for auditors to follow while conducting an audit

• Accounting standards are principles that govern the preparation of financial statements

• Both are issued by the Institute of Chartered Accountants of India (ICAI)

• Auditing standards ensure that the audit is conducted in a systematic and efficient manner

• Accounting standards ensure that financia...read more