This article discusses the procedures for obtaining audit evidence in audit and assurance, including analytical procedures, inquiry, inspection, observation, and recalculation. It also covers the suitability and limitations of each procedure, as well as the difference between internal and external audit functions.

Discover audit evidence procedures, their limitations, and the contrast between internal and external audits.

Audit and Assurance Procedures for Obtaining Audit Evidence

Audit and Assurance: Procedures for Obtaining Audit Evidence

LUBS3550 - Introduction To Audit | Assignment,&nbsp;Audit of the entity may be defined as an independent examination of the books of accounts of an entity, whether profit-making or not, small or big, government or private, prepared by the management. It is using accounting policies and procedures and making use of the estimates and judgments with the view to express an opinion on the financials, whether it is showing the correct view and has been prepared on an unbiased basis.&nbsp;&nbsp;Auditors may use diverse procedures during the audit of an entity depending on the nature of the entity for a manufacturing concern, the emphasis would be on the production areas, sales, and purchases of raw material, for a software entity, the emphasis would be on the manpower costs and subcontracting costs, etc.

Finance

Data Science and Big Data

Political Science

LUBS3550 - Introduction To Audit | Assignment

Individual Assignment

Annual Reports on Paying Corporate Taxes

This report discusses the various aspects of analytical procedures applied to analyze the risk of material misstatements of CSL Pharmaceuticals, Biotechnology & Life Sciences along with discussing the inherent risk of the company in the context of various factors.

Hartpury University and Hartpury College

Auditing and Assurance in Australia

This document discusses auditing theory and practice, including the assessment of inherent risk, assessing the likelihood of misstatements, identifying internal controls, evaluating internal controls, test of control, and substantive testing procedures.

Auditing Theory and Practice

This article discusses the decisions and factors considered by the auditor in a quality audit. It covers the types of audit evidence, four decisions taken by the auditor, and four factors to be considered in which the evidence can be relied upon.

Calculus and Analysis

Quality Audit: Decisions and Factors Considered by the Auditor

This report is an auditing and assurance assignment on Woolworths Company. It covers ASA 315, understanding the entity and its environment and assessing the risk of material misstatement. It also discusses the risks associated with expense accounts and how to minimize them.

Audit and Assurance: Procedures for Obtaining Audit Evidence

End of preview

LUBS3550 - Introduction To Audit | Assignment

Annual Reports on Paying Corporate Taxes

Auditing and Assurance in Australia

Auditing Theory and Practice

Quality Audit: Decisions and Factors Considered by the Auditor

Auditing and Assurance Assignment on Woolworths Company

Audit and Assurance: Procedures for Obtaining Audit Evidence

End of preview

LUBS3550 - Introduction To Audit | Assignmentlg...

Annual Reports on Paying Corporate Taxeslg...

Auditing and Assurance in Australialg...

Auditing Theory and Practicelg...

Quality Audit: Decisions and Factors Considered by the Auditorlg...

Auditing and Assurance Assignment on Woolworths Companylg...

LUBS3550 - Introduction To Audit | Assignment

Annual Reports on Paying Corporate Taxes

Auditing and Assurance in Australia

Auditing Theory and Practice

Quality Audit: Decisions and Factors Considered by the Auditor

Auditing and Assurance Assignment on Woolworths Company