Question

An auditor's responsibilities may include which of the following?

1. Reviewing Policies, 2. Enforcing Policies, 3. Supervision of Auditee Lines of Business, 4. Reviewing Controls

a. 1 & 2
b. 2 & 3
c. 2 & 4
d. 1 & 4

Answer 1

An auditor’s core responsibilities include reviewing policies and controls, rather than enforcing policies or supervising lines of business, with the main objective to certify that financial records are reasonable and to assess internal controls.

Step-by-step explanation:

An auditor’s responsibilities primarily include reviewing policies and reviewing controls. Auditors do not enforce policies, as enforcement is generally the responsibility of management within the auditee's organization. Additionally, auditors do not supervise the auditee's lines of business, since their role is to remain independent and objective while conducting their audits.

The task of an auditor is to provide assurance that the financial records are a fair and accurate representation of the transactions they claim to represent. They may also assess the effectiveness of the internal controls within an organization. However, the actual enforcement of these policies is not within their mandate as it could compromise their independence.