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Is tax audit a statutory audit?
no because tax audit is perform to fair tax calculation and payment purpose.and statutary audit is perform as per company act.it is mandatory but above the prescribe limit satish pathak
WHAT IS THE ACCOUNTING JOURNAL ENTRY TO RECORD AUDIT DISBURSEMENT CHARGE?
To record an audit disbursement charge, the accounting journal entry would typically involve debiting the appropriate expense account (e.g., Audit Expense) and crediting Accounts Payable or Cash, depending on whether the payment is made immediately or will be paid later. The entry would look like this: Debit: Audit Expense Credit: Accounts Payable (or Cash) This reflects the recognition of the expense incurred for the audit services.
How do you prepare an audit plan?
audit plan is the most important part of audit. the auditor should arrange the activity done in audit.
What is a prepayment audit?
A prepayment audit is a financial review conducted before a payment is made to ensure that all necessary documentation, approvals, and compliance requirements are met. This process helps to verify the legitimacy of the expenses, confirm that the goods or services were received as agreed, and prevent errors or fraud. By conducting this audit, organizations can enhance financial control and accountability while minimizing the risk of improper payments.
Who performs an operational audit?
internal auditors perform an operational audit as part of their assurance services they render to oganisations.
Who Perform operational audit?
internal auditors perform an operational audit as part of their assurance services they render to oganisations.
What is the definition of Final Audit?
The English phrase 'audit programme' means a listing of audit procedures to be performed in completing an auditUpon the architect's satisfactory final inspection and favorable review of the contractor's final payment request, the architect will issue a certificate indicating that the final payment is due....The Final Solution was the plan to rid of Euro
List five recommendation that have been made recenlty to strengthen the independent audit function?
A public company auditor, in order to be independent, should not audit its own work (as it would if it provided internal audit outsourcing services, financial information systems design, appraisal or valuation services, actuarial services, or bookkeeping services to an audit client).A public company auditor should not function as part of management or as an employee of the audit client (as it would if it provided human resources services such as recruiting, hiring, and designing compensation packages for the officers, directors, and managers of an audit client).A public company auditor, to be independent, should not act as an advocate of its audit client (as it would if it provided legal and expert services to an audit client in judicial or regulatory proceedings).A public company auditor should not be a promoter of the company's stock or other financial interests (as it would be if it served as a broker-dealer, investment adviser, or investment banker for the company).
What is audit note book?
an audit notebook is one in which the auditor makes notes of all important items that he comes across in cource of his audit work.
Marketing audit services?
What are the major approaches to marketing audit services and obtaining new clients? What are the major approaches to marketing audit services and obtaining new clients? what are the major approaches to marketing audit
What has the author N O'Sullivan written?
N. O'Sullivan has written: 'The impact of organisational form internal governance and non audit services on audit pricing'
What is the average audit fee?
The average audit fee can vary widely depending on the size and complexity of the organization being audited, as well as the geographical location and the firm providing the audit services. For small to mid-sized companies, audit fees typically range from $10,000 to $50,000, while larger organizations may incur fees from $100,000 to several million dollars. Factors such as industry, regulatory requirements, and the specific services included in the audit can also influence the final cost. It's essential for companies to obtain quotes and compare services to understand the typical fees in their sector.
