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!
Stock Taking - Audit Process
The procedures for carrying out physical stock taking vary in detail according to the circumstances and size of the business and the life of its stock records. Conversely, definite instructions preferably in writing would be issued in all cases for the guidance of those who will be engaged in the actual stock taking. The stock taking instructions should as a bare minimum contain:
a) Recognition of their ownership and the articles.
b) Counting, weighing or measuring.
c) Reporting of stocks such are damaged or otherwise defective.
d) How the stock take is to be recorded.
Judgmental Sampling The Judgement sampling is where, auditor using his own experience and awareness of the client's business and situations selects the sample to be tested with
auditor is a watch dog not a blood hound
General Verification Procedures - Audit Process 1. Get or prepare a schedule for each and every class of liability. Usually this would indicate the makeup of the liability a
main areas contained in a private audit
The International Auditing and Assurance Standards Board (IAASB) is an independent standard-setting body that serves the public interest by setting high-quality international stand
History - True and Fair International Standards on Auditing (ISAs) make it quite clear that the terms 'true and fair' and 'present fairly' which are used in audit reports in m
How do internal auditors add to the credibility of financial statements?
Share and deposits Shares may consist of subscription shares and paid up shares. Interest on shares might be credited to the accounts rather than being paid to ensure proper co
methods of determining break even point
Recognize the Related Parties The auditor should review information provided through the management and directors recognize the names of all identified related parties and sho
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