Which of the Following Is Not One of the Major

question 55

Multiple Choice

Which of the following is not one of the major differences between financial and operational auditing?

• A) The financial audit is oriented to the past, but an operational audit concerns performance for the future.
• B) The financial audit report has widespread distribution, but the operational audit report has limited distribution.
• C) Financial audits deal with the information on the financial statements, but operational audits are concerned with the information in the ledgers.
• D) Financial audits are limited to matters that directly affect the fairness of the financial statement presentation, but operational audits cover any aspect of efficiency and effectiveness.