alleryStart learning →How does a dual audit differ from a joint audit?
ADual audit has no auditors at all
BDual audit uses one auditor only
CEach auditor issues a separate report
DDual audit is done only for banks
Answer & Solution
Correct answer: C. Each auditor issues a separate report
In a dual audit two independent auditors each issue their own report, whereas a joint audit gives one combined report.
Keep practising Standards on Auditing and Professional Ethics
Browse all Standards on Auditing and Professional Ethics questions for CA Final, or explore more Auditing topics.
Related questions
Which US law was a reaction to problems when divisions of one firm provided both audit andWhich EU directive of 17 May 2006 enforces ISAs for all statutory audits in the Union?Which body typically approves selection of a company's external auditor?In India, what does the term statutory auditor refer to?Directors try to stop auditors revealing false accounts. Which independence helps?Which independence protects the auditor's choice of audit strategy?A firm prepared the client's accounts and now audits them. Which threat arises?Which is one of the four standards behind auditor independence?