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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.
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
IAS 36 Impairment of Assets It is very necessary for the auditor to determine the client's method for determining and accounting for impairments. Corresponding IAS 36, 'impai
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