Briefly explain different types of audit, Auditing

Government has recently set up a parastatal body responsible for waste management in Mauritius. The management is unsure as to the need for an audit and the setting up of an internal audit function. The Director of Audit being the auditor of the body, has asked you to visit the client and explain to management the more fundamental aspects of the accountability of the body.

Required:

(a) Describe to management why there is a need for an audit and its main objectives.

(b) Briefly explain four different types of audit.

(c) Describe what is meant by internal audit and how it differs from an external audit.

(d) Describe the main responsibilities of management in relation to the accounting function of the parastatal body.

Posted Date: 10/29/2013 3:29:04 AM | Location : United States







Related Discussions:- Briefly explain different types of audit, Assignment Help, Ask Question on Briefly explain different types of audit, Get Answer, Expert's Help, Briefly explain different types of audit Discussions

Write discussion on Briefly explain different types of audit
Your posts are moderated
Related Questions
IAS 12 Income Taxes 1AS 12 needs a deferred tax liability should be well known for all taxable temporary difference with minor exceptions as goodwill that is not allowable for

Audit of Accounting Estimates An accounting estimate is described in ISA 540 Audit of Accounting Estimates as 'an estimation of the amount of an item in the absent of a precis

Contents of Working Papers - Audit The ISA 230 No.3 stresses which audit working papers may always be adequately complete and detailed to enable an experienced auditor along w

IAS 40 Investment Properties Audit work common to all kinds of land and building will be used to establish ownership, existence and price. IAS 40 requires such companies may a

QUESTION 1: Part A When planning a financial statement audit, an audit manager must understand audit risk as well as its components. The firm of Jack and Jackie calculates

The most effective means for an AUDITOR to confirm his understanding how internal control over financial reporting is designed and operates to test and evaluate its effectiveness.

Audit Sampling ISA 530 Audit Sampling and Other Selective Testing Procedures defines Audit sampling is the application of a compliance or substantive procedure to less than 10

Wal-Mart Locate the 2009 Form 10-K for Wal-Mart in Appendix A and consider the following questions: 1. With respect to the report of the external auditors to "the Board of Directo

Work Related Health Problems The health of a person working on a specific job in a particular environment may be affected by both. It is valuable to have a clear understanding