Audit Stages Stages: An audit typically involves several stages, which can vary depending on the size and complexity of the organization being audited. However, the following are the general of an audit: 1.Planning: In this the auditor plans the audit by gaining an understanding of the organization and its business processes, identifying key areas of… Read More »
Statutory and non-Statutory Audit Statutory audit and non-statutory audit are two types of audits that serve different purposes. A statutory audits is a legally required audit that is performed to ensure that a company’s financial statements are accurate and comply with applicable accounting standards and laws. This type of audit is typically conduct by an… Read More »
Auditing features Auditing features, The features of auditing encompass the following aspects: Independence: Auditing should maintain independence to guarantee an unbiased and impartial audit process, unaffected by external pressures or biases. Systematic Approach: Auditing should be conduct systematically and methodically, covering all relevant aspects of the audited entity to ensure comprehensive evaluation. Objectivity and Impartiality: Auditors… Read More »