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what are the benefit of audit and its limitations
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
Q. What is Transferred Basis? Transferred Basis - A transferred basis is the foundation of property in the hands of a transferor, donor or GRANTOR. In this sense a prior owner'
Related Services to Auditing Additionally, audit services, auditors offer other services. These can be categorized as: Assurance engagements: • Audits • Reviews Non-a
What are Objectives Of Internal Audit? Ans) The purpose of internal audit is to remain proper control over business activities. When there is proper control there is maximum eff
what is edp auditing?
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
Initial Identification - Intangible Asset Subsequent to initial identification, an intangible asset is carried at: a) Cost, less any accumulated amortization and any accumu
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
In previous times, the Kings used to hear their accountants narrate the accounts verbally. Though, as the complexity of the accounting function grew, require was felt to thoroughly
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