Audit

Expectation Gap The term expectation gap is defined as a gap between the expectation of users of assurance reports, particularly of audit report under the…

Control Activities relevant to Financial Statement Audit Control activities are those policies and procedures that help ensure that management directives are carried out. They help…

Objective of Audit in Financial Statements Auditing is a systematic examination of books and records of a business or other organization, in order to the…

Economic Benefits of Auditing Economic benefits must accrue from audits to justify such costs. Auditing such as examination of the books accounts and a bachelor…

Limitation or Disadvantage of Financial Audit Auditing is a systematic examination of books and records of a business or other organization, in order to the…

Difference between Accounting and Auditing Accounting is the recording, classifying summarizing of economic events in a logical manner for the purpose of providing financial information…

Vouching is the Heart of Auditing Vouching is a technical term which refers to the inspection by the auditor of documentary evidence supporting and substantiating…

Vouching is the act of checking evidential documents to find out errors and frauds to know the authenticity, accuracy, and reliability of books of accounts.…

Attestation services provided by CA firms Attest Services occur when a practitioner is engaged to issue or does issue a report on subject matter or…

There are significant differences in the methods, objectives, and parties responsible for the accounting process by which the financial statements are prepared and audit of…