There are many types of audit including financial audit, operational audit, statutory audit, compliance audit and so on. current audit industry or practices.
KPMG, PWC, EY and Deloitte..
A11 Some audit evidence is obtained by performing audit procedures to test the accounting records, for example, through analysis and review, reperforming procedures followed in the financial reporting process, and reconciling related types and applications of the same information..
ICAI has issued 43 Engagement and Quality Control Standards (formerly known as Auditing and Assurance Standards) covering various topics relating to auditing and other engagements.
All Chartered Accountants in India are required to adhere to all these standards..
The auditor can answer a multitude of points by asking a single question e.g. “How do you check all incoming post?” This invites the auditee to describe the system.
During the answer supplementary questions can be interspersed such as, “Why do you do that?”, “When is this done?”, “How do you report defects?” etc..
There are three main types of audits: external audits, internal audits, and Internal Revenue Service audits.
External audits are commonly performed by Certified Public Accounting firms and result in an auditor's opinion which is included in the audit report..
As part of the evaluation of whether sufficient appropriate audit evidence has been obtained, the auditor should evaluate whether the assessments of the risks of material misstatement at the assertion level remain appropriate and whether the audit procedures need to be modified or additional procedures need to be .
There are many types of audit including financial audit, operational audit, statutory audit, compliance audit and so on. current audit industry or practices.
KPMG, PWC, EY and Deloitte..
Büchling, M Auditing for Dummies
Loughran, M Auditing Fundamentals in a South African Context
Auditing Fundamentals in South African Context: Graded Questions
,2nd EdHamel, A Auditing legislation and standards
,2nd EdAuditing Notes for South African Students
,10th EdBanking crises, liquidity, and credit lines: a macroeconomic perspective
Professional competence: This is one of the fundamental ethical principles which auditors must achieve and maintain
√ They must maintain professional knowledge and skill at the required level and have the necessary technical ability to perform their function in accordance with applicable technical and professional standards
,√ 5