ACC311 HANDOUTS PDF | Fundamentals of Auditing

ACC311 HANDOUTS PDF

ACC311: Fundamentals of Auditing (PDF)

An algorithm is a set of rules that specify the order and type of arithmetic functions used in a particular set of data. The algorithm is an effective way to solve a problem using a limited sequence of instructions. ACC311 HANDOUTS PDF

Course Category: Computer Science/Information Technology

Course Outline

Fundamentals of auditing (An introduction), Objective and General Principles Governing, Reasonable Assurance, Legal Consideration regarding Auditing Rights, Duties and Liabilities of Auditor, Liabilities of an Auditor, Books of Account & Financial Statements, Understanding the Entity and Its Environment, Documenting the Internal Control System, Evaluating the Internal Control System, Internal Control Questionnaire, Audit Tests, Substantive Procedures Audit Evidence, Sufficient Appropriate Audit Evidence & Testing the Sales System.

Testing The Sales System, Testing the Purchases System, Testing the Payroll System, Testing the Cash System, Testing Other Systems, Testing the Non-Current Assets, Verification Approach of Audit, Verification of Assets, Letter of Representation & Verification of Liabilities, Verification of Equity, Verification of Bank Balances, Verification of Stock-In-Trade and Store & Spares, Audit Sampling, Statistical Sampling, Considering the Work of Internal Auditing, Audit Planning, Planning an Audit of Financial Statements, Audits of Small Entities, Auditor’s Report on a Complete Set of General Purpose Financial Statements, Modified Auditor’s Report. ACC311 HANDOUTS PDF

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ACC311 HANDOUTS PDF  Fundamentals of Auditing

ACC311 HANDOUTS PDF Fundamentals of Auditing

ACC311: Fundamentals of Auditing Handouts

Operational Audits

Performance appraisal is a review of any part of business processes and procedures for the purpose of evaluating efficiency and effectiveness. Upon completion of the study, recommendations to management to improve performance are expected. An audit trail was performed to evaluate the efficiency and accuracy of payment processing. Tasks in a newly installed computer program.

Another example is where many scholars may feel inadequate to evaluate the efficiency, accuracy, and customer satisfaction of analyzing the distribution of books and parcels by a courier company like TCS. demonstrate the performance of standard performance tests. In one organization, the auditor may review the validity of information used by management in making decisions about the acquisition of fixed assets, while in a separate organization the auditor may evaluate the effectiveness of the paper flow in processing the sale. reviews are not limited to accounting. They may include organizational testing, computer performance, production methods, marketing, or any other area where the auditor is qualified.

Affective audit and reporting results are easily explained compared to the other two types of research. Efficiency and efficiency are more difficult to assess than in relation to the presentation or presentation of financial statements in accordance with accounting rules and regulations, and establishing a system for assessing questionable information in the audit is a matter for consideration. In this sense, effective auditing is more like “consulting management” than it is commonly called “auditing”. Performance testing has increased significantly over the past decade

Compiance Audits

The purpose of compliance monitoring is to determine whether the business complies with certain procedures, rules, or guidelines set by certain higher authorities. Checking compliance with private business rules may include determining whether bank employees comply with company management rules, reviewing compliance rates, or checking contractual agreements with banks and other lenders to ensure compliance with the company. legal requirements. In the study of government units such as a district school, there is an in-depth study of law enforcement due to the wide control of senior government officials.

In almost every private and non-profit organization, there are established policies, contractual agreements, and legal requirements that may require compliance analysis. Managers, unlike external users, are a large group responsible for complying with certain prescribed procedures and regulations. Therefore, much of this work is done by the auditors employed by the business itself.

There is something different; when an organization seeks to determine whether individuals or entities responsible for compliance are in fact compliant, the auditor is employed by the issuing agency. appointed by the government to review taxpayer tax returns. The following table summarizes the three types of audits and includes an example of each type and an illustration of the three main components of the audit definition used for each type of research.

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ACC311: Fundamentals of Auditing Handouts (pdf)

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