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a management letter of representation is a letter written by the management to the auditor confirming all the representations made to him in the couse of his audit work
Yes
what is the purpose of an audit trail
How do I write a audit letter about concerns on an audit
A MANAGEMENT REPRESENTATION LETTER is signed the management of the company being audited. An AUDIT ENGAGEMENT LETTER is signed by both an offical from the auditing firm and the management of the company being audited. (Nt exactly sure which one you wanted.)
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The purpose of an audit is to add credibility to the financial statements of a business organization.To give credence to the accounting records, accounting polices and financial statements of an audit client.
The importance of an internal audit is to make sure that accounts are being handled the way they are supposed to be handled according to the laws of the state. Another reason for an internal audit might be to prevent fraud or theft.
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An audit (financial or non-financial) therefore indicates detailed examination and verification of an account, a situation or a state. Given this definition, the application of an audit varies from financial audits to marketing audits; from fire safety audit to statutory refulations requirements audit(like ISO, HAACP etc). Very large scale audits include an audit of the city. The purpose of carrying out the audit varies. In the case of a fire safety audit, we are ensuring environmental safety. In the case of an annual financial audit, the primary purpose of its existence is the protection of stockholders in publicly traded What is the purpose of an audit. To this end, my reply is that the purpose of an audit is to verify and examine in detail if there is accuracy in information. However, the type of audit being carried out may have a deeper underlying purpose which is being addressed. Specifically, the purose of an audit is to perform an independent assessment of an action, function, or system, in order to determine the effectiveness of that action, function, or systems ability to control risk.
Audit is an evaluation of a certain thing or individual. This is to determine about the situation of the inventories, expenses and also to determine the check and balances.
In today business world management play very important role for the success of failure of business. Management is the life blood of every organization. So if organization want to gain competitive advantage then it should improve their management efficiency and effectiveness. Followings are the objectives of management audit: Review of policies review of procedures review of methods performance appraisal job rotation Depend upon auditor mind or purpose of management audit