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Types of audits
As far we have tended to think in state of the audit of limited companies, and certainly, the emphasis during this text will be on that companies incorporated below the Companies Act 1962, not least since this category of audit situation is at the heart of the wide majority of auditing examination questions. Conversely it may be convenient at this level to briefly indicate the major classes of audit such are undertaken in practice.
Two types of Audit
Contingencies and Provisions (i) Receive the client's schedule of provisions and seek and contingencies supporting documentation in the form of legal opinions, correspondence
Share Capital - Audit Process Share capital is a special type of liability and when it has been issued during the year then verification procedures are as follows: 1. Confirm
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Audit of Assets- Audit Process Non current assets have the fundamental characteristic which they are held for require in the business and not about resale. IAS 1 Presentation
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Advocates - Specialized audit Situation The statutory provisions regulating the handling of client's monies are covered in the advocate's act. Reason of the rules:
YvesLaurent has just been put in charge of the BeautyNatural Inc. audit.BeautyNatural is a small, but growing retail chain of natural cosmetics stores. BeautyNatural needs to borro
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