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
Meaning of True in Auditing Meaning of 'true and fair'/present fairly' Truth in accounting is quite different form scientific truth.  Accounting does without a deal along w

Verification of Liabilities - Audit Process Usually speaking, the auditor's duty along with regard to liabilities can be summarised follows as: 1. To confirm the existence of

RELEVANCE OF IAS / IFRS TO AUDITING The auditors should involve in their report that their view on whether the financial statements they report are true and fair view. It is comm

In previous times, the Kings used to hear their accountants narrate the accounts verbally. Though, as the complexity of the accounting function grew, require was felt to thoroughly

Research and Development - Audit Process The past of business is littered along with cases of companies which have collapsed as a convulsion of over indulgence in discover and

Firm valuation refers to the total value of a firm in the capital market. It is the stock price of a firm times its outstanding shares. Total value of a firm is also called market

how to calculate materiality given the acoountin period information

Seek Out Transactions with Related Parties  Within the course of the audit, the auditor carries out process that may identify the existence of transactions along with related

Forms of Evidence Observation , is mostly witnessing internal book-keeping procedures and system control. It involves attendance at wages pay out. Observation of stock-ta

Problem: "If the auditor wishes to place reliance on internal control,he should ascertain and evaluate those controls and perform compliance tests on their operation" (a) De