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Standardization of Working Papers - Auditing
The ICPAK guideline states that the needs of standardized working papers may improve the effectiveness along with that they are reviewed and prepared. Used accurately they support to instruct facilitate the delegation and audit staff of work whereas providing a means to control such quality.
Conversely, despite the profits of standardizing the routine documentation of the audit as e.g. specimen letters, checklists, standard organization of the working papers. So it is never suitable to follow mechanically a 'standard' approach to the documentation and conduct of the audit with no regard to exercise to the requirement professional judgment.
On balance, there may be a degree of consistency of working papers and practically all firms considered this need. At last, it should be notice that working papers are the property of the auditor and therefore the auditors should adopt process to ensure such their confidentiality or secure custody and-leaving them by the bus or matatu should such be avoided.
techniques of vouching
With internal audit we always require to be careful of any manipulations within the company itself. Errors & frauds within the company cannot be denied /overlooked at any cost.
Motor Vehicles - Audit Process Similar considerations govern the audit of motor vehicles as to those relating to machinery and plant. The simply matter of consideration now i
what difference between risk assessment procedure and substantive procedures? could you please provide some examples on each procedure?
Discontinued Operations - Audit of Accounting Estimates A discontinued operation is a component of an entity that either has been disposed of or is held for sale. So it might
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Audit of Holding Companies and Group Accounts Authoritative documents are as: The Companies Act Cap 486 IAS 27 IAS 28 IAS 31 IFRS 3 ISA 600 r
list four assertions that relate to account balances
Audit of Group Accounts The main problems can be split into three sections in this area as: 1. The audit of the holding company confirming and obtaining information concern
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
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