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Difference between cost audit and financial audit?
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.
What is audit planning memorandum?
Audit Planning MemorandumIt is a document prepared by the auditor setting out those information obtained during the audit planning process and those decision taken as a result of the audit planning efforts, which are required by those audit staff who will be engaged on the audit assignment. It is a written document, which set out the information obtained and decision reached as a result of audit planning effort
Why do some companies require an information security audit?
Companies require an information security audit to ensure the security is adequate. Also, the audit allows the company to decide if money is being spent properly on security.
What is the difference between permanent audit files and current audit files?
Permanent audit files contain information that is relevant over multiple audit periods, such as the client's foundational documents, policies, and long-term contracts. In contrast, current audit files include information specific to the current audit period, such as working papers, financial statements, and evidence gathered for that year. Essentially, permanent files provide a historical context, while current files focus on the present audit.
What is inconclusive audit?
An inconclusive audit is one in which the evidence presented is not definite under the specific requirements needed. Information that may be conclusive in other situations can sometimes be inconclusive during an audit.
How do you audit share based payments and special purposes entities?
examples of audit procedures for share based options
What is audit files?
audit files contain information relating primarily to the audit of a current period.
What is current audit file?
audit files contain information relating primarily to the audit of a current period.
Where can you find collaborative innovation?
There is a Collaborative Innovation Network (CoIN), that is a social group defined by innovative teams. These teams share information and ideas to produce positive results.
What is internal audit audit evidence?
internal audit evidence is all the information the auditor relies on to arrive at any conclusion.
Which audit can be performed by a company's accounting department on their information technology systems?
compliance audit
Difference between cost audit and financial audit?
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.
What is the probability of 13 teams to be the first pick in the draft?
The answer will depend on 13 teams out of how many! And since you have not bothered to share that crucial bit of information, I cannot provide a more useful answer.
What is audit planning memorandum?
Audit Planning MemorandumIt is a document prepared by the auditor setting out those information obtained during the audit planning process and those decision taken as a result of the audit planning efforts, which are required by those audit staff who will be engaged on the audit assignment. It is a written document, which set out the information obtained and decision reached as a result of audit planning effort
What are audit queries?
Audit queries are questions asked by an auditor during an investigation. These may be used to gather information to come to a conclusion in the audit.
Where can someone go to learn more about audit compliance?
There are many financial organisations where one could go for information about audit compliance. There is also the Compliance Audit Handbook produced by the DEC which gives useful information.
Why do some companies require an information security audit?
Companies require an information security audit to ensure the security is adequate. Also, the audit allows the company to decide if money is being spent properly on security.
