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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.
Simple Plans - An employer can adopt a simplified retirement plan known as a SIMPLE Plan (Savings incentive match plan for employees) if it has fewer than 100 employees that receiv
audit procedure for shares or common stock
what difference between risk assessment procedure and substantive procedures? could you please provide some examples on each procedure?
Fairness - Auditing The word fair can have the following meanings: on the other hand clear, plain and distinct and on the one impartial, equitable and simple. When fair is
The modern integrated audit approach combines elements of various traditional audit areas having financial, operational, and information technology.
Statutory Audits The audits are compulsory below statute in the case of a large amount of number of undertakings involving the following as: Undert
Existence - Detailed Audit of Stock In the previous the auditor accepted a director's certificate as to the existence of stocks. Until some cases specifically in the United S
Fleet Bhd operates a chain of high street retail outlets selling clothing and household items. In 1995, this company was heading for a financial loss and was deemed to have lost st
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Important Points about Auditor - Audit Process The Points that should be noticed that: i. The auditor must forever date his audit report. This date should be as close as pr
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