What are types of cost audit
your balls
types of operational audit?
3rd Party Audit - Independent Audit 2nd Party Audit- Customer Audit 1st Party Audit- Internal Audit
Under HR Audit, audit of HR procedures and process is done while in financial audit, audit of finance related matters are done.
difference between audit program audit & note book
How would you save against disadvantages of continuous Audit Compare between Continuous Audit and Periodical Audit?
types of operational audit?
between financial audit and cost audit
TOBBACCO
Cost audit is done to audit the cost elements of unit costs while in financial audit, audit of financial statements is done to find out information provided is true and fair or not.
from my view and what i learned, there is only two types of tax audit that includs (a) desk tax audit (b) field tax audit
Mgt audit is not compulsory under the law .cost audit in certain industry ,it is legally compulsory
3rd Party Audit - Independent Audit 2nd Party Audit- Customer Audit 1st Party Audit- Internal Audit
various types of 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.
There are four types of Audit Reports 1. Standard Unqualified 2. Unqualified with explanatory paragraph 3. Qualified and 4. Adverse
Cost Accountant can very well do the internal audit of the company. Since internal audit is the 'seeing us inside' and also the scope is the operations and compliance part of the activities, cost accountants have expertise in conducting the same. They are the 'most fit' professionals for conducting internal audit of manufacturing operations, processes and activities and assessing the risk involved in each area. The new Companies Act, as such, recognises cost accountants along with other finance professionals for award of internal audit assignment. And internal audit has been made mandatory for certain class of companies. But, the cost accountants who are engaged in cost audit assignment of the company cannot be engaged for internal audit of the same company as the engagement would affect objectivity and there may be conflict of interest.
Following are two types of tests:Control testCompliance test