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The procedure adopted by the companies in Pakistan is the standard one which is practice in most of the countries.
1. ticking
2. casting
3. calling over
4. voutering
5. final report
After using these steps we can do an audit of the company if you are satisfied with my ans do let me know and also if you are not...(waqasalikhan@live.com)
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∙ 12y ago
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Define cost audit?
The purpose of a cost audit is to verify all cost accounts and ensure that the company is following the predefined cost accounting plan. This type of audit focuses on every department within an organization to ensure that costs are being managed properly.
Which component of a marketing audit includes major developments in income prices savings and credit that affect the company?
Economic
What is the role of finance committee?
The role of the finance committee is the overseeing and the function of fund generation and mentainance of a company. They regulat and they audit the whole finances of the organization or company from the personnel salary to the total gross income of the company.
What procedure you will adopt to fill empty vacancies?
The type of procedure that you will adopt to fill empty vacancies can vary depending on the business, organization, or company you are working for. Some organizations use an election procedure to fill empty vacancies.
What is the procedure for opening fixed deposit account with the bank?
In two forms either personal or company e.g the name of the company 2 signatory 3
How applied the audit procedure in PIA?
audit procedure we mean that those petren in which we prepare the audit report.
What are audits and why are they carried out?
An audit is an accounting procedure where financial records of a company are inspected to verify that they are accurate. The audit keeps a company honest and reassures employees and investors as to the financial status of the organization.
Audit procedure for letter of credit?
The audit procedure for letter of credit ensures the compliance of sanctions and post sanction procedures.
What is the procedure of the checking the quality of the work in audit organization?
There is no single audit is performing in the company.Like there are many audits are conducted like, Quality control,Finance,Marketing,Production etc So the quality of the AUDIT can be judged through the Results it produced after the audit,and the quality of the Company who is conducting that audit. Through this you can check this out.
What is audit plan?
Audit planning is a procedure which is used to see and prevent potential problems. This is done at the beginning of an audit process.
How do you audit a procedure?
If there is no paper trail ask questions of persons performing the procedure
What is the procedure designed to safeguard a company's assets and ensure efficient and appropriate account data?
An audit trail helps find accounting problems.
Procedure for system audit?
The procedure for a system audit begins with planning. The controls are then studied and evaluated. Reporting then begins and is followed by any follow up procedures.
What the Difference Between Internal Audit and Interim Audit?
An internal audit is conducted by an unbiased party within the company. An interim audit (which is an audit conducted before the end of the fiscal year) can be conducted by someone outside the company.
What are the advantages in having an audit committee?
the audit committee communicate with internal audit, external audit and CFO on behalf of the company.
What is the advantage of interim audit?
An interim audit helps the auditor to be a step ahead for the final year end audit. It also helps smoothen out the company's financial reporting process through a review of the reporting process twice a year.
What is audit procedures?
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
