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Skills and Objectivity of Expert The skills and competence of the expe rt Whether planning to require the work of an expert, so the auditor should assess the professiona
Existence - Plant and Machinery However this should generally be checked through physical inspection, so a problem arises. Items of machinery and plant can be numerous mobile
what is confirmation letter?
Auditors Responsibilities with regard to related parties ISA 550 Related Parties states which the auditor should perform audit process designed to find sufficient suitable
1. Demonstrate knowledge of the current tax, auditing and accounting issues that concern governmental and not-for-profit entities 2. Explain the difference between various funds (
Summary of IAS 2 Inventories are measured at the lower of cost and net realizable value. Entire realizable price is the calculated selling price in the regular course of busin
internal control procedures to be put in place when purchasing a motor vehicle
Meaning of the auditing definition a) Orderly and efficient manner: An organization which is run in an orderly and proficient manner is able to satisfy the requirements o
Statutory Audit is a mandatory audit done by a CA. Finance Audit is conducted by the CA to compliance the legal supplies of monitory issues. If the audit for a business or an orga
Forms of evidence a) Observation: is usually witnessing internal control and book-keeping procedures. It includes attendance at wages pay out. Observation of stock-take, open
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