Inappropriateness of Going Concern
Going concern is an essential principal assumption in accounting. It is one of the fundamental assumptions in accounting on the basis of which financial statements…
Business
Factors that causes Substantial Doubt about Going Concern of company
Going concern is an essential principal assumption in accounting. It is one of the fundamental assumptions in accounting on the basis of which financial statements…
Basic Function of Comptroller and Auditor General
Basic Function of Comptroller and Auditor General The Comptroller and Auditor General (C & AG) is an authority established by the constitution who audits all…
Concept of Going Concern
Concept of Going Concern Going concern is one the fundamental assumptions in accounting on the basis of which financial statements are prepared. Going concern means…
Flowchart
A flowchart is a type of diagram that represents an algorithm, workflow, or process, showing the steps as boxes of various kinds, and their order…
Sampling Risk
Sampling Risk refers to the possibility that the sample drawn is not representative of the population and that, as a result, the auditor will reach…
Solvency Ratio
Solvency ratio is a key metric used to measure an enterprise’s ability to meet its debt and other obligations. The solvency ratio indicates whether a…
Vouching
Vouching is a technical term which refers to the inspection by the auditor of documentary evidence supporting and substantiating a transaction. It is the act…
Audit Note Book
An Audit Note Book is a book which is maintained by the audit staff during the course of the audit, to note the errors, difficulties,…
Substance over Form
Substance over form is an accounting principle used “to ensure that financial statements give a complete, relevant, and accurate picture of transactions and events”. If…
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