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This charter defines the mission, independence and objectivity, scope and responsibilities, authority, accountability and standards of the Internal Audit function.
A charter is basically a delegation / grant of authority from a person or organization of authority to one another person or organization. The purpose of an internal audit charter is to compel the departments that require to be audited to give the information needed by the auditor. Without this charter or same authority most managers wouldn't see any advantage to being audited and would likely refuse to provide anything the auditor required.
Audit Risk and Business Risk We saw in earlier studies that audit risk is often categorized as the product of inherent risk, control risk and detection risk. Auditors should
Bank - Cash and Bank Balances The major concern in this area is to establish the existence of the balances and more currently due to failures in some financial institutions in
Concept of Audit Evidence The auditing is an evidence gathering exercise. It is an exercise continued out to confirm the assertions made through the management in carrying ou
auditor is a watch dog not a blood hound
Examination of Deeds Make Sure that the mortgage is in the name shown in the advance records; That there is a document of title to the property within mortgage and that
how EDP audit is carried out
Fraud and Error ISA 240: the Auditor’s duty to Consider Fraud and Error defines that whenever planning and performing audit procedures, computing and reporting outcomes thereby
Authoritative Document is IAS 17 Leases The suitable technique of amortization or depreciation to require in the case of leasehold property and freehold buildings is straight-
Judgmental Sampling Judgment sampling is where the auditor using his own experience and knowledge of the client's business and circumstances selects the sample to be tested wi
what is edp auditing?
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