Audit

An auditor who, before the completion of the engagement, is requested to change the engagement to one which provides a lower level of assurance, should…

An engagement letter defines the legal relationship or engagement between a professional firm and its clients. The letter details the terms, conditions, and compensation arrangement…

Risk Assessment Process in Audit Planning Audit planning involves the development of an overall strategy or game plan for expected conduct and scope of the…

Planning the audit: Audit planning means mapping out the whole audit procedure before conduct the audit activity. It involves the development of an overall strategy…

Write down are Overview of Financial Statement Audit A financial statement audit is the assessment of an entity’s financial statements and accompanying disclosures by a…

Important methods of obtaining Audit Evidence Audit evidence which is cumulative in nature includes audit evidence obtained from audit procedures performed during the count of…

The Six Steps followed in Planning the Audit Consider the first standard of field work (adequate planning and proper supervision). The amount of audit planning…

Working Paper Working papers are those papers which contain essential facts about accounts so that the auditor may not have again to go over the…

Ownership and Custody of Working Papers Working papers are those papers that contain essential facts about accounts so that the auditor may not have again…

Essential Requirements of good Working Paper Working papers are those papers which contain essential facts about accounts so that the auditor may not have again…