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Audit procedure is the process followed while auditing an entity which may include:
Confirm the audit assignment
Complete appropriate planning
Execute actual internal audit work
Develop a report
Wiki User
∙ 13y ago
Wiki User
∙ 13y agoway step used to fond audit evidence
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What is the Difference between HR audit And Financial Audit?
Under HR Audit, audit of HR procedures and process is done while in financial audit, audit of finance related matters are done.
What is audit client screening and what are audit client screening procedures?
During an audit, a client may be screened before the actual audit to inform them of what will take place. This is a time to give them information on what to bring and answer questions.
What are the post audit responsibilities in completing the audit?
Postaudit responsibilities include consideration of- 1.Subsequent events occurring between the date and issuance of the auditors report.2.The discovery of existing facts.3.The discovery of omitted procedures.
3 general types of quality audits?
3rd Party Audit - Independent Audit 2nd Party Audit- Customer Audit 1st Party Audit- Internal Audit
Differences between audit plan and audit program?
difference between audit program audit & note book
What is the Difference between HR audit And Financial Audit?
Under HR Audit, audit of HR procedures and process is done while in financial audit, audit of finance related matters are done.
What procedures need to be done after a safety audit is complete?
No
How do you audit share based payments and special purposes entities?
examples of audit procedures for share based options
The impact of internal audit on organization?
Internal audit reveals to management whether internal control procedures are duly followed or not.
Audit procedure for letter of credit?
The audit procedure for letter of credit ensures the compliance of sanctions and post sanction procedures.
What is a surveillance audit?
A survelliance audit is a process where current procedures are checked and verified against the company's quality management system.
What is audit client screening and what are audit client screening procedures?
During an audit, a client may be screened before the actual audit to inform them of what will take place. This is a time to give them information on what to bring and answer questions.
What is the purpose of an internal audit?
Main purpose of internal audit is to establish internal control system as well as procedures which ensures that all departments works as per policies and procedures established by management of business as well as to help external auditors in conducting external audit.
What are analytical procedures?
Analytical procedures are "one of many financial audit processes which help an auditor understand the client's business and changes in the business, and to identify potential risk areas to plan other audit procedures." So essentially these are the procedures that an auditor goes through to look at risks within the business.
What is asserted in an operational audit?
In an operational audit, the management of an organization asserts that the operations of the organization are being conducted in accordance with management's established policies and procedures.
Audit program for creditors?
Step involved to determine the compliance to procedures and internal controls
What is the first step in the analytical procedures process used in an audit?
The first step in the analytical procedures process is the development of an expected account balance.
