Auditing Process and Its Authentication

Audit 1
Audit

Audit 2
Table of Contents
Introduction:....................................................................................................................................3
Task 1...............................................................................................................................................4
Task 2...............................................................................................................................................5
Task 3...............................................................................................................................................6
Task 4...............................................................................................................................................8
Task 5...............................................................................................................................................9
Conclusion.....................................................................................................................................10
References......................................................................................................................................11

Audit 3
Introduction:
This study will provide you a detailed review and explanation about auditing process and its
authentication. This reading will be based on the professional practice of auditory procedure
which commences with an introduction to compliance and assurance in regards to the audit
process. It will provide knowledge of changes in the auditing profession and its assurance
aspects in the regulatory organization. A perfect discussion will be provided regarding auditing
ethics and legal responsibilities & issues for an auditor. The whole report is related to auditing
process and its legal liabilities. This report contains different audit information like audit
planning, collecting evidence, risk assessment and controls with substantial testing. Readers will
be provided with the substantial move of “Hands-on” experience in this case study of Auditing
Practice.

Audit 4
Business Report possessing major five issues:
To,
Senior Auditor,
Task 1
According to ISA 200 overall motives of the free and independent audit and its conduction as per
requirement in International Standards on Auditing justifies the overall purpose of Audit report
and enhancement of the degree of compliance and assurance in the financial statement.
Judgments and clarification regarding the materiality of Trial balance and another financial
statement whether it would be individual and aggregate can be exactly accepted with the reason
of influence to the internal and external users in the light of financial surrounding and
acceptance.
In the situation 1, preliminary assessment of materiality has been shown around $15,000 in the
financial report of the company, which could be appropriate if Auditor does acts wisely in such
circumstances during preparing auditing report with the initial assessment of materiality which
could be reassessed. In this situation, the past history of misstatement might be detected during
the audit and their assessment of materiality of a financial report which could be based on audit
risk, it is needed to be considered by the auditor the amount of $15,000 based on 5% of total
materiality to be appropriate. It is important for the Auditor to determine lower but specific
amount of materiality in the financial report (for particular balance accounts) & defining the
class of transactions and qualitative disclosures. So this amount of $15,000 considered as
materiality can be appropriate when misstatement in these areas would be considered at the level
of specific materiality.