Walkthroughs for auditor, Auditing

Assignment Help:

Q. Walkthroughs for auditor?

Walkthroughs provide the auditor with evidence to:

1. Confirm auditor's understanding of the process flow of transactions.

2. Confirm auditor's understanding of the design of controls identified for all five components of internal control over financial reporting, including those related to detection or prevention of fraud.

3. Confirm that auditor's understanding of the process is complete by determining whether all points in the process at that misstatements related to every relevant financial statement assertion that could occur have been identified.

4. Evaluate effectiveness of design of controls.

5. Confirm whether controls have been placed in operation.


Related Discussions:- Walkthroughs for auditor

Financial statements rely, Financial Statements Rely All Financial prov...

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

Goodwill, How would you value the Goodwill

How would you value the Goodwill

Non-statutory audits, Non-statutory Audits The non-statutory audits ar...

Non-statutory Audits The non-statutory audits are performed through independent auditors sicne the owners, proprietors, trustees, members  and governing and professional bodie

Valuation of debtors, Valuation of Debtors Debtors are valued simple l...

Valuation of Debtors Debtors are valued simple like other assets at the lower of cost and total realisable value. Valuation of debtors is actually a consideration of where the

Stake holder group, The assignment continues the research process by furthe...

The assignment continues the research process by further exploring and defining the problem statement through the development of research objectives. These objectives will allow yo

Valuation and income - verification procedures, Valuation and Income - Veri...

Valuation and Income - Verification Procedures Valuation Valuation of listed securities is easily conformed along with suitable financial publications. Directors' valua

Common stock valuation, Common stock valuation 1. Features of common st...

Common stock valuation 1. Features of common stock (You may review common stock learned from TCA 221) a. Residual claim on income and assets (after debt holders and preferre

Internal Audit., #quInternal Audit checklist for fixed assetsestion..

#quInternal Audit checklist for fixed assetsestion..

Tds, how to operate distribute amount and section rate also provision party...

how to operate distribute amount and section rate also provision party bill

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd