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Which audit can be performed by a company's accounting department on their information technology systems?
compliance audit
Which are the five audit implications of business risk?
Client viabilty Inherent risk: Tone at the top Audit risk of specific assertions Analyticals Information systems
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.
List example of auditing research topics on challenges faced by auditors during the audit work in UK?
Some of the research topics that can be discussed in relation to the challenges faced by UK auditors are bank reporting, auditor reporting, and dialogue with supervisors. Other topics include support systems for supervisors, creating responsible consumers, and designing better regulations.
Difference between internal audit and internal control systems?
Distinguish between internal audit and internal control.
What is internal audit audit evidence?
internal audit evidence is all the information the auditor relies on to arrive at any conclusion.
How to establish a system to monitor audit and enforce ethical standards?
establishing systems to monitor, audit and enforce ethical standards ?
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
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.
