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
Leasehold Property - Audit Process Exactly the same process is adopted for leasehold buildings and land as applied about freehold buildings and land except in the matter of de

Conducting a critical review of published literature about a topic is fundamental step in developing your research skills. A first step towards a review of the literature is to sea

Planning for Stock taking Stock taking should be planned well in carried out and advance carefully and systematically through persons fully informed of the duties involved. Th

Charities and Non Governmental Organizations Key audit areas: Income: donations therefore are not easy to confirm good internal control is needed particularly o

#Fortex Limited, the meat processing firm, was formed in 1985 from three smaller companies. In 1993, however, after a few years of spectacular growth, the company collapsed. a) S

oversee commission staff to ensure individuals are properly trained and monitored probable risks, controls and audit tests

Assertions about classes Assertions about classes of transactions and events for the period under audit : a) Occurrence -events and transactions which have been recorde


Capital allowances vs. Depreciation Whether the client can prove such they will keep the existing levels of investment in original terms, then there may be justification to ac

Sundry Debtors and Loans Sundry debtors and loans are not generally material assets of companies another than those companies whose business is to create loans.  We shall cons