Inspector of Statistics — Past Questions

Inspector of Statistics • Paper-III

Primary objective of audit is:

A) Detection of fraud

B) Verification of accounts

C) Tax saving

D) Profit maximization

A statutory audit primarily provides independent verification/opinion on the financial statements; among the options, verification of accounts is the closest.

Inspector of Statistics • Paper-III

Statutory audit is compulsory for:

A) Partnership firms

B) Companies

C) Sole traders

D) HUF

Companies are subject to statutory audit under company law.

Inspector of Statistics • Paper-III

SEBI was established in:

A) 1988

B) 1992

C) 1995

D) 2000

SEBI was established in 1988 and received statutory powers in 1992; the standard establishment-year answer is 1988.