Auditing Practise And Principle Question And Answer About Substantive And Control Test Pdf

auditing practise and principle question and answer about substantive and control test pdf

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If your company records its inventory as an asset and it undergoes an annual audit , then the auditors will be conducting an audit of your inventory. Given the massive size of some inventories, they may engage in quite a large number of inventory audit procedures before they are comfortable that the valuation you have stated for the inventory asset is reasonable. Here are some of the inventory audit procedures that they may follow:.

Substantive Tests

An Auditor should plan his work to complete his work efficiently and well within time. An Auditor must have impartial attitude and should be free from any interest. He should be honest and sincere to his work and he should do his work without any bias and prejudice. An Auditor should keep confidential all the information acquired by him during his audit. An Auditor should adhere to substantive and compliance procedure for collecting audit evidences before conducting an audit. It is the primary responsibility of a company to keep adequate internal control system in his organization. On the basis of such internal control system, an Auditor can determine the nature, timing and audit procedure to be applied to conduct his audit.

This job requires extensive knowledge about a particular business and the industry it operates in. They usually have an accounting degree, finance or a related business field. Internal auditors should be organized and tactful and have strong critical thinking skills. To become an internal auditor, understand risk management, compliance auditing, corporate governance, control principles and audit planning. If you are looking for a job like this, you should be prepared for a screening interview, a behavioral interview and technical questions.

Auditors’ Responsibility for Fraud Detection.

The Indian Audit and Accounts Department has been continuously striving to upgrade and update its auditing practice as part of its overall endeavour to achieve professional excellence. The Auditing Standards were first brought out by the Department in and were subsequently revised in I am pleased to release the third edition of the Auditing Standards, which is the result of a structured and diligent process of internal consultation at various levels. This edition takes into account the prerequisites for functioning of the Supreme Audit Institution and is suitably aligned with existing fundamental auditing principles of the framework of International Standards of Supreme Audit Institutions. I trust that all officers and staff of the Department would abide by these Auditing Standards and apply them conscientiously in auditing for achieving the mission of promoting accountability, transparency and good governance.

Substantive Tests

Definition of IT audit — An IT audit can be defined as any audit that encompasses review and evaluation of automated information processing systems, related non-automated processes and the interfaces among them. Planning the IT audit involves two major steps. The first step is to gather information and do some planning the second step is to gain an understanding of the existing internal control structure. More and more organizations are moving to a risk-based audit approach which is used to assess risk and helps an IT auditor make the decision as to whether to perform compliance testing or substantive testing.

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Effective Audit Committee Guide

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This site uses cookies for analytics, marketing, and other purposes as described in our Privacy Policy. Forgot my password. Effective Audit Committee Guide. Download PDF Version To assist the audit committee in performing its duties, the following is a list of questions it may ask the auditors and management in the context of periodic discussions i. However, committees are cautioned against falling into a checklist mentality where the basic goal is completion of the checklist itself, rather than conducting their own organization-specific investigation. Accordingly, these questions should be tailored to the circumstances of each organization. You may find many of the following questions are appropriate to ask more broadly of both the auditors and management.

Auditing - Basic Principles

Никто никогда не называл Джаббу дураком, свиньей - быть может, но дураком -. - Свою женскую интуицию ты ставишь выше ученых степеней и опыта Джаббы в области антивирусного программирования. Она взглянула на него с холодным презрением. Бринкерхофф поднял руки в знак капитуляции. - Извини.

Auditing Debt: The Why and How Guide

 Чед, уверяю тебя, в шифровалке творится что-то непонятное. Не знаю, почему Фонтейн прикидывается идиотом, но ТРАНСТЕКСТ в опасности. Там происходит что-то очень серьезное.


Bradley J.


Use with The Audit Process: Principles, Practice and Cases, 6th edn Auditors use substantive procedures to test if transactions – processed and controlled by accounting and control systems – are genuine, accurate and complete. Reminder Auditor answers questions on screen and program prepares report containing.