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 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 […]
Preparation Before Commencement of Audit
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 […]
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. […]
