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Important Points about Auditor - Audit Process
The Points that should be noticed that:
i. The auditor must forever date his audit report. This date should be as close as probable to the date of approval of the financial statement through the directors however must be after that date. ISA 700 needs that the date the director's approval to their accounts must be disclosed.ii. Special condition. These are concern rare circumstances but probable:a) Whether the auditor becomes aware among the date of his report and the AGM whenever the accounts will be presented, of information such would change his report then he have to:1. Discuss the issue along with the directors who may desire to amend the accounts2. Consider getting legal advice3. Consider creating a statement at the AGM as he is allowed to through the Companies Act.b) Whether the directors desire to amend the accounts among the date of the report and, the auditor should the posting to the members1. Consider whether the proposed amendment needs a change in his report2. Re date his report3. Review post balance sheet events up to the re dating.
Discovery of unlawful acts When an auditor discovers unlawful acts, usually he is not expected to disclose to the police or other authorities unless: The client authorise
list four assertions that relate to account balances
A municipal village or a nonprofit organization solicits bids for the annual audit from local audit firms, and the firm with the lowest bid is selected. Answer the following que
Please present an analysis of the attached case. Your analysis should be in the form of a memo not to exceed four pages plus appropriate exhibits. The memo should present your
With reference to the case study business, plan an audit. You should make specific reference in your plan to: Scope of the audit Materiality Risk factors including fra
Judgmental Sampling Judgment sampling is where the auditor using his own experience and knowledge of the client's business and circumstances selects the sample to be tested wi
Disclosure Requirements - Investment In common terms, the following items have to be disclosed in the concern to all investments: (a) The accounting policies about:-
Types of audits So far we have tended to think in terms of the audit of limited companies, and indeed, the emphasis throughout this text will be on such companies incorporated
Cost and Authorization - Auditing Process The cost of building and land acquired while the year should be vouched to suitable documentation.These are contract of sale, surveyo
The Concept of Audit Evidence Auditing is an evidence gathering exercise. It is an exercise carried out to confirm the assertions made by the management in carrying out the man
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