Walkthroughs for auditor, Auditing

Q. Walkthroughs for auditor?

Walkthroughs provide the auditor with evidence to:

1. Confirm auditor's understanding of the process flow of transactions.

2. Confirm auditor's understanding of the design of controls identified for all five components of internal control over financial reporting, including those related to detection or prevention of fraud.

3. Confirm that auditor's understanding of the process is complete by determining whether all points in the process at that misstatements related to every relevant financial statement assertion that could occur have been identified.

4. Evaluate effectiveness of design of controls.

5. Confirm whether controls have been placed in operation.

Posted Date: 8/19/2013 3:33:54 AM | Location : United States







Related Discussions:- Walkthroughs for auditor, Assignment Help, Ask Question on Walkthroughs for auditor, Get Answer, Expert's Help, Walkthroughs for auditor Discussions

Write discussion on Walkthroughs for auditor
Your posts are moderated
Related Questions
the availability of audit evidence is necessary but not sufficient condition for absolute reliance on the figure presented for audit

Question 1: What do you meant by Proactive Project Management? Define Proactive Project Management Bring out significance of Proactive Project Management with an exa

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

Attempts to define True and Fair It must be concluded that there has been slight attempt precisely to define fair and true. The Companies Act needs an auditor to report in

Buyers - Disclosure and Presentation This case (case of Aluminium Industries vaassen B V v. Romalpa Aluminium Ltd) are simply relevant whether creditors involve a material amo

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

Develop an audit program to identify and reduce potential fraud using ACL.

Initial Identification - Intangible Asset Subsequent to initial identification, an intangible asset is carried at: a) Cost, less any accumulated amortization and any accumu

The Concept of Audit Evidence Auditing is an evidence gathering exercise. It is an exercise carried out to confirm the assertions made by the management in carrying out the man

Problem: You are an auditor of a company which operates three large departmental stores at Grand Bay, Port Louis and Tamarin. You are preparing your audit plan and you are p