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Can anybody give the answer for this statement for 2 marks

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(Querist)
06 August 2010 iv) Auditor of Holding Company and its Subsidiaries is always the same.

and

v) 100% vouching ensures 100% effectiveness as regards to verification.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
06 August 2010 1. Auditor of Holding Company and its Subsidiaries companies can be different.

2. Mostly everywhere test check vouching is done as it is not feasible to vouch 100% of vouchers everywhere.

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