The audit Process
1. Client Acceptance/Continuance- Legal , Ethical and Practical Considerations
2. Establish re-evaluate -Letter of Engagement
3.Plan the audit
* Obtain an understanding of the entity
* Evaluate internal control
* Assess risks
* Establish materiality
4. Develop the audit Approach- Audit Strategy and Audit Planning.
5. Audit Internal control - Tests of Controls and Sampling.
6. Audit business Processes-Analytical procedures, Tests of details , Sampling.
7. Evaluate results- Analytical procedures and Additional procedures.
8. Issue audit report-Consider other reporting requirements.
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