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Describe How does the internal audit differ from an external audit?
Ans) Internal audit nothing but the checking the product that you formed.
External audit is checking your product by your customer. Here it means you may not search mistakes in your processes but a third man who comes and check the system he might see some deviations in the system and give suggestions for the improvements of the system..
Specialized Audit Situations Companies carry on thousands of different types of trade, business or professional activities. It is not possible in a manual on general auditing
how to audit discontinued operation
Classification of Management Representations The thing to note is which during the course of the audit the auditor obtains various representations from the management which ca
Co-operative Societies An audit in this case is carried out as a normal audit except you should note that the auditor is appointed by the Commissioner of Co-operatives and alth
Why is studying Auditing different from studying other accounting topics?
project report on absorption of overhead and its different method
Documentation of Representations by Management The auditor would ordinarily involve in audit working papers evidence of management's representations in form of a summary of or
Assertions about classes Assertions about classes of transactions and events for the period under audit : a) Occurrence -events and transactions which have been recorde
Pension Funds - Specialized Audit Situation Pension funds are set up through companies or another organization: (a) To retired employees to administer the pension payable
Valuation - Long Term Contracts The basis of valuation should be cost plus attributable profit as benefits less foreseeable losses and progress payments both receivable and re
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