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 […]
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 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. […]