External vs Internal auditors | What is an auditor and why do I need one? When I introduce myself as an auditor to new people it is always interesting to watch the reactions. Reactions usually range from good to bad, but most of the time people will just say ‘wow, so you’re a smart cookie” […]
Liabilities of an Auditor Discuss in Details
Liabilities of an Auditor The Liabilities of an Auditor are discussed below in details, take a deep breath and start reading you will get a lot of new knowledge. 1. LIABILITY OF NEGLIGENCE: A person who is appointed an auditor, he should perform his duties by using the reasonable skill and diligence. If the auditor is […]
What is Audit Working Papers
Audit working papers /audit note book is the book which provide complete picture about the business matter. It is maintain by the audit clerk during the course of audit. Audit working papers are the property of the auditor. What is Audit Working Papers: The clerk comes across through serve difficulties which he has to discus with […]
What is Audit Program | Definition Meaning Purpose Advantages
Audit Program: Audit program is a list of work done by an auditor different author has defined as in different ways; Audit program definition Professor Meigs says that “Audit program is a detailed plan of audit work to be performed, specifying the procedure to be followed in verification of each item in the […]
What is Audit Engagement Letter
Audit Engagement Letter is the letter which is sent by the auditor to his client (Business) for avoiding any misunderstanding in collection with the conduct of audit. What is Audit Engagement Letter: Before the starting of audit of a business the auditor sent a letter to management for avoiding any misunderstanding in collection with […]