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Examples of Specialists
Examples of specialists or experts whose work may be relied upon include:
Whether determination is use to the work of an expert the auditor should consider the materiality of the financial statement item being considered, the risk of misstatement based on the nature and complexity of the item being considered and the quantity and quality of other audit evidence.
auditor is a watch dog not a blood hound
what is internal audit standardizes.
Benefits of Internal Audit are following: It is in-expensive. No charted accounted is needed to audit internally. Faults will be removed before preparing financial stateme
types of edp accounting system
Higher normal risk Several audit assignments involve high audit risk and usually in any client there will always be at least one high risk area. Indications that an audit has
Normal audit risk Indications that an audit is a normal risk audit are: (1) The client having management and staff who are competent and have integrity; (2) Where the client h
Companies Modes of Operation Some companies (especially small ones) operate without any overtly expressed plan and simply carry out the business as always, responding to market
#quInternal Audit checklist for fixed assetsestion..
Key Audit Areas Key audit areas in detail (a) Ascertainment of creditors and debtors: Insurance companies do not keep their personal ledgers in such a way as to prod
should your test for unrecorded liabilities be affected by the fact that a letter is obtained in which a responsible management official certifies that to the test of his knowledge
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