Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Reliance on the Work of Other Auditors
The principal auditor or the primary auditor is solely responsible for the holding company's accounts. So here it is inevitable but that in large groups the holding company's auditor therefore the principal auditor are not forever the auditors of the subsidiary company, consequently, there is require for them to rely on the work of another auditors. The student have to notice such the principle auditors are fully responsible for their view on the group accounts and necessitate not for this cause refer in their report to the fact that the accounts of some associated or subsidiary company have been audited through another firms. I refer you to the following significant topics covered in the ISA. Availability of information, accounting policies, scope of work of the secondary auditors or another auditors, the materiality of the amounts included. Whether the principal auditor is satisfied so then the accounts present a fair and true view and comply along with the Companies Act the auditor will be capable to issue a an unqualified audit report. But qualification will be essential in the following circumstances.
1. The material subsidiary whether qualified so that there may be require for this qualification to be noticed in the holding company's report.
2. Failure through the principal auditor to acquire satisfactory information along with regard to material amounts or material subsidiary that has been consolidated from an audited account.
3. Material disagreement along with any of the consolidation calculations.
4. Non-compliance along with legal or professional requirements as far as disclosure is concerned.
how EDP audit is carried out
Management Representations as a Source of Audit Evidence International Standard on Auditing as abbreviated ISA 580 Management Representations gives guidance and standards on t
Managements interest in the accounting system Management needs complete and accurate books of accounts because: There is no other way the business can be controlled; Rec
As per the standard audit engagement letter signed between external financial statement auditor and client/ auditee, auditor's primary role is to detect fraud. Ans: No, the prim
The function of internal audit is concerned with analysis of internal check. The internal audit can look into the duties of every employee. All employees are given jobs on the basi
ILLEGAL ACTS Auditors may uncover criminal offences committed by a client or an employee of the client. This puts them in a difficult place, though the auditor must act careful
IAS 12 Income Taxes 1AS 12 needs a deferred tax liability should be well known for all taxable temporary difference with minor exceptions as goodwill that is not allowable for
Beneficial Ownership - Audit Process We have to examine documents of title as e.g. title motor vehicles, deeds and log books. Whether there are no implied ownership can suffi
Audit Approach - Audit of Accounting Estimates The accounting and auditing matters are mainly concerned along with recognizing the point in time at that the initial disclosure
Step 1: Determine learning objectives. Considering the importance of a course, its placement in a program of study, and its role in providing a base of knowledge to be built upon
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd