Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Advantages and Disadvantages of Joint Audits
The general disadvantages and advantages of joint audits as:Advantages1. All fees and work are welcome to audit firms.2. An occasion to closely examine the auditing methods of other firm.3. The other firm may have extraordinary expertise that might fit well in a joint business.4. The other firm may have geographical place possibilities that complement.5. The other firm may be of that a size such a client company can be serviced that may otherwise be beyond obtainable resources.6. Flexibility of working arrangements along with another firm may avert bottlenecks owing to staff shortage on peak times.Disadvantagesi. Shared legal responsibility. Liability for co-auditor's negligence.ii. Lack of control. Another firm may have dissimilar audit standards that may be unsatisfactory.iii. Any shared work or task may lead to personality clashes.
Managements interest in the accounting system Management needs complete and accurate books of accounts because: There is no other way the business can be controlled; Rec
what is service bureau system
General advantages and disadvantages of joint audits Advantages: All work and fees are welcome to audit firms. An opportunity to closely inspect the auditing methods
Non-Attendance at Stock Takes Whether the auditor is unable to attend a stock take, since he has numerous clients along with the same accounting date, or stock is situate at r
Audit Risk and Business Risk We saw in earlier studies that audit risk is often categorized as the product of inherent risk, control risk and detection risk. Auditors should
WHAT OF COST OF JOURNAL ENTRY?
Accounting Treatment Prescribed by IAS 38 IAS 38 prescribes the accounting treatment about to intangible assets, except: a) Intangible assets which are under the scope of a
#quInternal Audit checklist for fixed assetsestion..
General phases of control evaluation are: Phase 1: Understand and document • Understand the client's internal control • Document the understanding of internal control o
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
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd