See the reason for deposit.
Then how Deposit was created and check relevant agreement/support that the deposit is long-term or short term... Be Alert for Related Party Transaction.
Internal audit reveals to management whether internal control procedures are duly followed or not.
Main purpose of internal audit is to establish internal control system as well as procedures which ensures that all departments works as per policies and procedures established by management of business as well as to help external auditors in conducting external audit.
In an operational audit, the management of an organization asserts that the operations of the organization are being conducted in accordance with management's established policies and procedures.
Determine that purchases were properly recorded.
Auditor's judgement
Substantive procedures performed by the auditor during the substantive testing stage of the audit that gather evidence as to the completeness, validity and/or accuracy of account balances and underlying classes of transactions.
Mostly Analytical procedures are performed when verifying Sales / Revenue
When there is material misstatement
Under HR Audit, audit of HR procedures and process is done while in financial audit, audit of finance related matters are done.
No
examples of audit procedures for share based options
Internal audit reveals to management whether internal control procedures are duly followed or not.
The audit procedure for letter of credit ensures the compliance of sanctions and post sanction procedures.
A survelliance audit is a process where current procedures are checked and verified against the company's quality management system.
Audit procedure is the process followed while auditing an entity which may include:Confirm the audit assignmentComplete appropriate planningExecute actual internal audit workDevelop a report
During an audit, a client may be screened before the actual audit to inform them of what will take place. This is a time to give them information on what to bring and answer questions.
Main purpose of internal audit is to establish internal control system as well as procedures which ensures that all departments works as per policies and procedures established by management of business as well as to help external auditors in conducting external audit.