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How to involve people in audit?
Ans) Use audits as opportunities to train others. Ask for a volunteer (who is not an auditor) to walk by the audit process with you as an assistant. This will give others with a better understanding of what audits are and why they are essential.
Invite all the auditees to the closing meeting. Having been an auditee, we know it helps to hear audit findings first hand, the positive as well as the negative. Involving people makes a feeling that everybody is a vital contributor to the goal of the company - compliance.
What techniques used during an audit? Ans) ? Be professional at all times. Avoid being judgmental. ? Follow safety procedures, clean room procedures, and all other needed pr
Audit of Current Assets Verification of Work and Stocks in Progress Authoritative documents: IAS 2/ISA 500/501 IAS 1 Preparation of financial statements requires inv
Existence - Audit Process In the case of tangible assets existence is confirmed through the auditor visually, considering the asset examining and concerned its condition. Thi
could I post my orginal question?
Beneficial Ownership and Existence Existence Existence of buildings and Land is not hard to display. You may even be sitting in such building. Conversely, the audito
please verify txns
Share and deposits Shares may consist of subscription shares and paid up shares. Interest on shares might be credited to the accounts rather than being paid to ensure proper co
Explain The Difference Between Internal Audit And External Audit? Ans) The internal audit is performed to help the management. The weakness of the management is disclosed
what is statutory audit and private audit
Irregularities: Irregularities can be explained as intentional distortions of financial statements for whatever reason and also as misappropriation of possessions whether or no
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