ADVANTAGES OF AN INDEPENDENT AUDIT : The fact that audit is compulsory by law, in certain cases by itself should show that there must be some positive utility in it. […]
Audit - 91. page
BASIC PRINCIPLES GOVERNING AN AUDIT
BASIC PRINCIPLES GOVERNING AN AUDIT : SA 200 “Basic Principals Governing an Audit”, describes the basic principles which govern the auditor’s professional responsibilities and which should be complied with wherever […]
Auditing and Assurance Standards Board – ICAI
Auditing and Assurance Standards Board – ICAI : The International Federation of Accountants (IFAC) came into existence in 1977 and constituted International Auditing Practices Committee (IAPC) to formulate International Auditing […]
Standards on Auditing
Standards on Auditing : Standards on Auditing prescribe the norms of principles and practices, which the Auditors are expected to follow in the conduct of Audit. They provide minimum guidance […]
OBJECTIVES OF AUDITING
OBJECTIVES OF AUDITING : The objectives of auditing may be classified into two parts: 1. The primary objective 2. The secondary or incidental objective. Primary Objective – The primary objective […]
SCOPE OF AUDITING
SCOPE OF AUDITING : Audit scope determines the time involved in audit exercise, depth of auditing, aspects to be covered etc. Audit scope depends on nature of audit, objectives of […]
EVOLUTION OF AUDITING
EVOLUTION OF AUDITING : The term audit is derived from the Latin term ‘audire,’ which means to hear. In early days a person used to listen to the accounts read […]
DEFINITIONS OF AUDITING
DEFINITIONS OF AUDITING : It is a bit difficult to give a precise definition of word audit in a word or two, originally its meaning and use was confined merely […]
FEATURES OF AUDITING
FEATURES OF AUDITING : 1. Audit is a systematic and scientific examination of the books of accounts of a business; 2. Audit is undertaken by an independent person or body […]
SA 800: Special Considerations – Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks
SA 800: Special Considerations – Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks This SA deals with special considerations in the application of those SAs to an […]