Para 2.5.16 — MSO

2.5.16 A supplementary or test audit, which is in the nature of an efficiency-cumpropriety audit, is conducted by the Comptroller and Auditor General. This has the following primary objectives:

(i) Verification of the technical accuracy of the accounting records, books of account and financial results with reference to the Accounting Standards.

(ii) Detection or prevention of misstatements in and window dressing of the financial statements.

(iii) Examination of the achievement, by the company, of the objectives for which it was established.

(iv) Detection or prevention of frauds, misappropriation, and other acts of omission and commission.