The Primary Role of an Auditor Is To

question 22

Multiple Choice

The primary role of an auditor is to:

• A) review accounting systems and internal controls.
• B) detect fraud.
• C) ensure that every transaction is correct.
• D) ensure that there is no fraud and that all transactions are correct.

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Definitions:

Monetarists

Economists who believe that the money supply is the main determinant of economic growth and control over inflation.

Quantity Theory

A theory in economics that describes the relationship between the quantity of money in an economy and the level of prices of goods and services.

Quantity Theory

The theory suggesting that the amount of money in circulation in an economy directly affects price levels and inflation.

Doubled

A term indicating that a quantity, value, or size has increased by 100 percent, resulting in its multiplication by two.