types of audit approach
types of operational audit?
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
3rd Party Audit - Independent Audit 2nd Party Audit- Customer Audit 1st Party Audit- Internal Audit
various types of audit
There are four types of Audit Reports 1. Standard Unqualified 2. Unqualified with explanatory paragraph 3. Qualified and 4. Adverse
Following are two types of tests:Control testCompliance test
test of controls and substansive tests
when the audit is not a statutory requirement , but is conducted at the desire of owners , such an audit is private audit . the audit is conducted primarily forr their own interest. At times the private audit may become a requirement under tax laws , if the turnover exceeds a specified limit. private audit is of the following types : 1 audit of sole proprietorship 2 ,, ,, partnership firms 3 ,, ,, individuals accounts 4 ,, ,, institutions not covered by statutory audit
4 Types of Audit Reports:Unqualified OpinionQualified OpinionAdverse OpinionDisclaimer of Opinion
Nevertheless, smaller nonprofits and those new to federal program assistance and those organizations with prior single audit findings had a significantly higher rate of adverse audit findings.
what is the differences between IS Audit and traditional Audit?