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pre-audit is auditor doing audit when the activity/program/project/entity still in progress to ensure all the procedure to be compliance. post audit is auditor doing audit when activity/program/entity/project to be released to ensure all goal to be accomplished.
Wiki User
∙ 11y ago
Wiki User
∙ 12y agopre audit is auditor doing audit when the activity/programe/project/entity still in progress to ensure all procedure to be compliance. Post audit is auditor doing audit when activity/programe/entity/project to be realese to ensure all goal to be accomplised
Wiki User
∙ 11y agoPost Audit
Audit occursprior topayment
Audit occursafterpayment is made
Every freight bill is rated using carrier supplied software
Every freight bill is rated using carrier supplied software
Errors are identified and correctedbeforepayment is made
Errors are identifiedafterpayment
Carrier is notified that bill will be cutback prior to payment
Carrier is notified of an overcharge and auditor requests a refund
No cash is tied up
Audit and recovery period is 8 weeks
Client gets 100% of recovered revenue.
Client gets 50% of recovered revenue, Auditor gets 50% of recovered revenue.
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What are the disadvantages of audit report?
there may be other skills that you have that are not included Lack of follow through on the results
What are the areas in which this audit should be conducted?
Areas to Audit.Most lawsuits can be traced to four distinct stages of the employment relationship: hiring, employee evaluation, employee discipline or termination, and post-employment. Therefore, your self-audit should target these areas. Sample audit questions from each of these four areas appear on the following pages. In addition to these four areas, your employment audit should also target state regulations. Here are a few examples.Review all your labor contract provisions for their impact on employees with disabilities.Review all job specifications for hiring and placement of employees.Review all employment applications for illegal questions dealing with employeesReview and prepare all current job descriptions setting forth essential job elements.Review current facilities to ensure accessibility for individuals with disabilities.Review all pre- employment tests.Review all company or organization policies and procedures, in line with any statutory regulations or Acts, any applicable code of good practice in line with the Labor Relations Act 66 of 95 as amended, the Basic Conditions of EmploymentAct and the Employment Equity Act.
Maxall company audit results?
Meaning of Substantive Audit and the approach applied in EM's Audit of Maxall.What do you think the auditors meant by the term "Substantive Audit"? Was the substantive approach appropriately applied in EM's audit of Maxall?Here the term substantive Audit refers to the test of account balances with respect to the transactions relating to it.Yes the substantive approach was appropriately applied in this audit which was confined to Accounts Receivables, in relation to sales.Comparison of Audit Procedures that are in accordance with Generally Accepted Auditing Standards.Identify and discuss specific audit process/procedures that the auditor(s) performed that were in accordance with Generally Accepted Auditing Standards.We have got three types of tests performed under substantive audits, as per the Generally Accepted Auditing Standards, namely(I) Test of Transactions,(II) Test of balances(III) Analytical review procedures.(I) Test of transaction: It is an auditing procedure related to examining specified transactions and supporting documentation. It is part of the testing process used by the auditor to check internal-controls reliability. It is undertaken to gather evidence so that an audit opinion can be rendered as to the fairness of financial statement presentation. Included in such a test is verifying transaction amounts and tracing transactions to accounts in the financial statements.Here this test was confined to Accounts receivable, sales and inventory.(II) Test of Balances When EM compares the book balance of cash to the book balance, it is a test of balances. This is the step in which the Auditor seeks to obtain sufficient evidence to make a final judgment on the extent of losses or account misstatements that have occurred or might occur.Here, in this audit, the CPA's obtained evidence relating to the Accounts receivables with respect to the sales made during the year. They found out that 6 invoices made at the year end and confirmed those with the concerned customers.(III) Analytical review is an auditing process that tests relationships among accounts and identifies material changes. It involves analyzing significant ratios and trends for unusual changes and questionable items. Included in the analytical review process are: (1) reading important documents and analyzing their accounting and financial effects; (2) reviewing the activity in an account between interim and year-end, especially noting entries out of the ordinary; and (3) comparing current period account balances to prior periods as well as to budgeted amounts, noting reasonableness of account balances by evaluating logical relationships among them (i.e., relating payables to expenses, accounts receivable to sales).Only a part of Analytical review was made by EM for this company. They made certain adjustments relating to sales and Provision for doubtful debts.Identification of Audit Errors made by EM and Precautionary measures to be taken.Identify the specific audit errors made by EM and discuss what the auditorshould have done to avoid the errors.Inherent risk is the susceptibility of EM audit area to error which could be material, individually or in combination with other errors, as there were no related internal controls. Here we can see a possible error relating to Material. The material level was fixed at $35000 for 20x1 and $50000 for 20x2 which was not substantiated. There is no proper evidence to set these levels for the Material. As per the CPA standards the Material Level should beUnder single Rule5% of pre-tax income0.5% of total assets1% of equity0.5% of total revenuesOrUnder Variable rule2 to 5% of gross profit, if less than $20,0001 to 2% of gross profit, if between $20,000 and $1 million0.5 to 1% of gross profit, if between $1 and $100 million0.5% of gross profit, if more than $100 million.These rules have not been followed here.Comparison of audit in compliance with latest professional guidance.The scope of a forensic audit is to fix blame or answer a question. A forensic audit seeks proof, not reasonable assurance. Here the auditors have conducted a normal audit. When they found out the sales made in late December 20x1 and 20x2 to Balco limited, was given 90 to 120 days credit limit, they should have enquired into the reasons behind it and should have gathered enough evidence for evaluating the credibility of the customer. But they accepted the Mary Maxwell assurance for this customer. This evidence clearly shows that this audit was not conducted entirely in compliance with the professional guidance regarding the forensic-type phase of audit.
What is the code to get Pokemon from the mining museum on Pokemon pearl?
The guy under me is a retard. You can find the code at SuperCheats.com mate, the code does not exist! you do not need it! just get a fossil in your field bag (transfer from underground) and talk to the fossil maniac in the mining museum and he'll give you the Pokemon (you need a space in your lineup) that comes from the fossil. here's a list: Skull fossil-CRANIDOS (Diamond only) [pre-national dex] Armour fossil-SHIELDON (Pearl only)[pre-national dex] Dome fossil-KABUTO (post national dex) Helix fossil-OMANYTE (post national dex) Root fossil-LILEEP (post national dex) Claw fossil-ANORITH (post national dex) and Pokemon that come from other underground dug items: Old Amber-AERODACTYL (post national dex)
What is the difference between a old silver dollar and a dime?
Other than size, appearance, and monetary value... not much. If both were minted pre 1965, then they are both 90% silver. Both underwent a few different styles. For the silver dollar, there were Liberty, Morgan, and Peace designs. Dimes were Liberty, Barber, Mercury and Roosevelt.
What is the difference between pre-audit and post-audti?
a pre audit is where the inspecting firm comes in and gives you some advice on what to fix, check etc... the post audit is where the agency comes in to see if you have fixed the problems or came up with answers to the questions they asked during the audit itself.
Difference between pre-tensioned and post-tensioned?
what a wicked page, really helpfull Difference between pre-tensioned and post-tensioned?
What is the difference between pre-indexing and post-indexing?
what is pre-indexing
Pre indexing post indexing difference between?
what are the differents between preindexing and post indexing?
What is the difference between pre and post?
"Pre" refers to before a certain event or point in time, while "post" refers to after that event or point in time. "Pre" indicates anticipation or preparation, whereas "post" highlights what happens or has happened after the event.
What is the difference between a stillbirth and a miscarriage?
Pre 24 weeks = miscarriage post = stillbirth.
Whats the difference between pre-64 and post-64 on a Winchester 94?
manufacturing changes.
Is there a difference between pre-1981 and post-1981 pennies?
The difference is tat the size changes a little, an also that Post 1981 pennies have had another meneral added to it
What are the disadvantages of audit report?
there may be other skills that you have that are not included Lack of follow through on the results
The difference between the post-comtaian era and pre-comtian era of sociological thinking?
the 2000th era
What is the basic difference between while and do-while loopinggive an example?
Pre-test versus post-test.
Difference between pre testing and post testing?
Pre-testing is done before and post-testing is done after. They are typically done before and after a class to measure how much was learned. They can also be done to measure the effectiveness of certain training or therapy.
