Search results
Results From The WOW.Com Content Network
Analytical procedures include comparison of financial information (data in financial statement) with prior periods, budgets, forecasts, similar industries and so on. It also includes consideration of predictable relationships, such as gross profit to sales, payroll costs to employees, and financial information and non-financial information, for examples the CEO's reports and the industry news.
An auditor's report is a formal opinion, or disclaimer thereof, issued by either an internal auditor or an independent external auditor as a result of an internal or external audit, as an assurance service in order for the user to make decisions based on the results of the audit.
Phase IV: complete the audit and issue an audit report [ edit ] After the auditor has completed all procedures for each audit objective and for each financial statement account and related disclosures, it is necessary to combine the information obtained to reach an overall conclusion as to whether the financial statements are fairly presented.
The auditor must state in the auditor's report whether the financial statements are presented in accordance with generally accepted accounting principles. The auditor must identify in the auditor's report those circumstances in which such principles have not been consistently observed in the current period in relation to the preceding period.
Special-Purpose Reports on Internal Accounting Control at Service Organizations full-text: December 1982 45: Omnibus Statement on Auditing Standards-1983 full-text: August 1983 46: Consideration of Omitted Procedures After the Report Date full-text: September 1983 47: Audit Risk and Materiality in Conducting an Audit full-text: December 1983 48
An information technology audit, or information systems audit, is an examination of the management controls within an Information technology (IT) infrastructure. The evaluation of obtained evidence determines if the information systems are safeguarding assets, maintaining data integrity , and operating effectively to achieve the organization's ...
European Union: The Audit Directive of 17 May 2006 enforces the use of the International Standards on Auditing for all Statutory audits to be performed in the European Union. The Audit Directive of 17 May 2006 is important in order to ensure a high quality for all statutory audits required by Community law requiring all statutory audits be ...
The Institute of Internal Auditors, a global professional audit standards body, has issued practice advisory 2330-1 stating the goals of audit working papers are to: [1] Document the planning, performance, and review of audit work; Provide the principal support for audit communication such as observations, conclusions, and the final report;