Business

An Auditor is a person or a firm appointed by a company to execute an audit. The auditor’s job is to write a report at…

Factors should be considered for designing Test of Control Test of controls are auditing procedure performed to determine the effectiveness of the design and the…

Developing Audit Programming for Substantive Test Substantive procedure detects a material misstatement in a transaction account balance and discloser component of the financial statement. It…

Substantive test: Substantive procedure detects a material misstatement in a transaction account balance and discloser component of the financial statement. It is an audit process…

Tests of Details for income Statement Accounts: When the audit evidence obtained from analytical procedures and from tests of details of related balance sheet accounts do not…

Analytical procedures for Income Statement Accounts: Analytical procedures can be a powerful audit tool in obtaining audit evidence about income statement balances. It is a…

Difference between Concurrent tests of control and Planned test of control The procedure to test the effectiveness of controls in support of a reduced assessed…

Internal Control objectives are desired goals or conditions for a specific event cycle which, if achieved, minimize the potential that waste, loss, unauthorized use or…

The relationship between Test of Control and Assessing Control Risk – The relationship between the test of controls and assessing control risk is that the…

The Process of Designing and Performing Test of Controls The procedure to test the effectiveness of controls in support of a reduced assessed control risk…