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Forensic audit
Forensic audit refers to the examination of financial records and other company data to gather…
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Impact of internal controls on the external audit
Highly efficient internal controls indicate a strong control environment and management’s commitment to risk management.…
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International standard on quality control – ISQC 1
Firms must adopt quality control standards in line with increasing stakeholder expectations and quality control…
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Audit program in the audit file
An audit program is a detailed action plan enlisting audit procedure designed to obtain sufficient…
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How to audit receivables?
Following are the procedures for auditing receivables. It’s important to note that priority is given…
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What is pre-audit, and how is it different from post-audit?
Pre-audit refers to performing audit procedures before paying bills/invoices. The purpose of the pre-audit is…
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Due diligence, types, and examples?
It’s a proactive assessment or detailed feasibility study of the potential investment opportunity. The due…
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Duties of external auditor
Following are some of the essential duties associated with the external auditor. 1-Maintain independence as…
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What is the scope of an external audit?
The scope of external audit mainly covers the preparation and presentation of financial statements. In…
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Preanalytical and Final analytical review in audit (PAR & FAR)
Preanalytical review refers to going through/analyzing the numbers in the financial statement at planning stage…
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