Commencement of Audit Commencement of audit means that when an organization is going to start final audit before commencement of audit the following instruction must be given by the auditor to his client. A list of book in use, list of employees, their duties and internal control should be provided to […]
What are the 3 Types of Audits
Types of Audits : There are many types of Audits but here we will discuss the basic three audit types are as follow: 1. Final Audit 2. Interim Audit 3. Continuous Audit Types of Audits methodology will discuss one by one. 1. Final Audit: It is a types of Audits also known as periodic audit or complete […]
Audit Procedures and Techniques
Audit Procedures and Techniques: Audit Procedures means the way of doing Audit, the techniques which use during the audit. Audit Procedures The Audit Procedures is operated by the following procedures. 1. Record’s Examination: This Audit procedure is commonly used by the auditors. The inspection of books and documents is made to verify the validity of data. […]
What is Audit Scope
Audit Scope mean boundaries of Audit In-other words we can also say that the audit scope means the circle in which the auditor audit the company and maintain relevant information needed for auditing. Audit Scope: Scope of Audit can explain with the following points. Scope of Audit: 1. Legal Requirement: […]
Difference Between Accountant and Auditor
Difference between Accountant and Auditor: Accountant: An accountant is a person who has knowledge of accounting and maintains the books of accounts of a company; he may or may not be a chartered accountant. An accountant is an employee receives salaries for his work. Auditor: Is a person who must be a chartered accountant. […]