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In order for auditor to perform audit as per GAAS, only programming independence is required from the audit client.
Ans: Yes I agree with the statement as:Programming independence essentially protects the auditor's ability to select the most appropriate strategy when conducting an audit. In the preliminary evaluation of internal control, auditor documents internal control systems of the audit client. Auditor has only one method- narrative- for providing the overview of the internal control systems.
Ans: Other procedures may also be performed where the information to be obtained there from may be helpful in identifying risks of material misstatement. Examples of such procedures include:
• Internal Control Questionnaire (ICQ), and:
• Accounting and control system flowcharts.
2 pages
Permanent Audit File The permanent audit file might include, inter alia: a) A copy of the enterprise's statutes and other legal or statutory documents governing the enterpri
Dealings with Directors and Other Parties - Sundry Debtors and Loans Dealings along with directors and other related parties: The auditor's duties are follows as: i. The revi
strongest mediul of communication
Audit Function The audit functions as follows as: 1. To verify the estimation of timing differences; 2. To ensure such permanent differences have not been got into accou
Case Study: You have commenced work as a graduate auditor with a well established audit firm. The firm has a wide client base, which includes some of the largest companies in t
Process to Adopt Liabilities It is significant that the auditor realises which such liabilities can exist and he should obtain reasonable steps to unearth them whether they ex
what is internal audit standardizes.
What techniques used during an audit? Ans) ? Be professional at all times. Avoid being judgmental. ? Follow safety procedures, clean room procedures, and all other needed pr
What are the strength of Stock transfer note
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