Explain the importance and role of audit standards, Auditing

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Question 1:

Auditing standards regulate the audit profession.

a) Explain the importance and role of audit standards.

b) Lists four of the standards issued by the INTOSAI and describe the role of each.

Question 2:

a) Explain the importance of Internal control and the categories of control that exist in an internal control system.

b) Describe what you understand with Audit Evidence and its importance to the auditor.

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