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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
Financial Statements Rely All Financial providers people must be sure that the financial statements can be relied upon. It should be noted that: 1. The auditor himself must be
strongest mediul of communication
Financial Institutions and Banks - Audit Situations Financial Institutions Because of the recent collapse of many financial institutions, this is still a heavily regu
types of edp accounting system
Forms of Evidence Observation , is mostly witnessing internal book-keeping procedures and system control. It involves attendance at wages pay out. Observation of stock-ta
list four assertions that relate to account balances
a) Would King & Queen be liable to EFL? Provide specific case references to support your answer.
expalining the meaning of audit test data
Non-statutory Audits The non-statutory audits are performed through independent auditors sicne the owners, proprietors, trustees, members and governing and professional bodie
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