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Advantages and Disadvantages of a Continuous Audit Advantages: The regular or continual attendance of the auditor might act as a deterrent to scam; Weaknesses in the
e following situations involve a possible violation of the MIA ByLaws (on professional ethics, conduct and practice). For each situation, (1) decide whether or not the Code has bee
Co-operative Societies and Parastatals Co-operative Societies An audit in this case is carried out as a general audit except you should notice that the auditor is appoi
Assets held for Sale - Audit Process A non-current asset or disposal collection is classified as held for sale whether its carrying amount will be recovered principally via a
Advantages and disadvantages
Sundry Debtors and Loans Sundry debtors and loans are not generally material assets of companies another than those companies whose business is to create loans. We shall cons
Key Audit Areas - Building Society 1. The auditor must examine the process for checking deeds on receipt from the lawyers to ensure such they are complete in accordance along
procedures for verifying a fixed assets
Issues in Audit of Intangible Assets The two key issues in such audit of intangible assets are: (a) Recognition of intangible assets The audit problem here is to mak
Statistical sampling - Advantages A. It is defensible and scientific; B. It gives a precise mathematical statement for probabilities of to be correct; C. It is efficien
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