Month: January 2022

At the end of the detail audit work after systems testing and substantive testing has been complete, the auditor needs to have the audit evidence that: Proper books and records have been kept and form a reliable basis for preparation Read More …

Substantive testing is defined in auditing standards as “Those tests of transactions and balances, and other procedures such as analytical review, which seek to provide audit evidence as to the completeness, accuracy and validity of the information contained in the Read More …

The auditor is required to: Ascertain Record Corroborate the record Review Test Evaluate and Form a conclusion on the adequacy of the client’s internal control system The internal control system consists of procedures that ensure that all the transactions, resources Read More …

The auditor must: Ascertain by asking questions Record on paper Corroborate his record and confirm that the record is correct. Review for adequacy and of planning of tests. Test to determine that it always works as it is supposed to. Read More …

The auditor must arrange to plan his audit in some details. The plan will involve preparation of a memorandum showing the following aspects: The staff members who will do the audit work The outline of the audit work to be Read More …

The most important aspect is that before the start of the audit, the auditor must establish and discover as much as possible regarding the following: The present and the future trends and prospects regarding the industry into the client operates Read More …