Notes on Audit of Ledgers – Guidelines to Auditors
Audit of Ledgers An auditor should carry out Audit of Ledgers after the books of original entries have been vouched and postings there from are fully checked. In business, …
Category: Auditing
Basic Principles Governing an Audit
Principles Governing an Audit Auditing and Assurance standards give the basic principles an auditor has to follow while conducting an audit of financial statements of any organization. 1. Integrity …
Notes on Scrutiny of Expenses in Auditing – Role of Auditor
While scrutinizing, all expense accounts should be thoroughly verified. This article explains the role of Auditor in scrutinizing Direct Expenses, Indirect Expenses, Income Accounts, Assets Accounts and Liability Accounts. …
Materiality in Auditing | Instances of Materiality | Duty of Auditor
What is Material Information? If an information given in the financial statements and other statements annexed thereof, influences the decisions taken by the user, such information is said to …
Cost Audit | Meaning | Scope | Objectives
What is Cost Audit? Cost audit as the name suggests is an audit of cost records. Cost audit as a discipline and a statutory provision came into being in …
6 Areas to be Enquired and Reported by Auditor in Company Audit | Role of Auditor
Enquiry and Report by Auditor in Company Audit – Role of Auditor The followings items are to be enquired into by the auditor and report on such items only …
Audit of Individuals and Other Institutions | Guidelines | Advantages
Audit of Individuals There are individuals like estate managers, rent collectors, investors, etc. who derive large income and incur heavy expenses to earn such incomes. They appoint accountants to …
Audit of Sole Trading Concern | Guidelines | Advantages to Sole Trader
Audit of Sole Trading Concerns – Guidelines to Auditors Auditing the accounts of sole trading concerns is not mandatory and there is no legal compulsion. But now-a-days it has …
Vouching Goods Received / Sold on Sale or Return Basis, Goods Sent on Consignment | Guidelines to Auditor
Vouching of Goods Received on Sale or Return Basis or Consignment Basis – Guidelines to Auditor Sometimes, goods are received from the suppliers on sale or return basis. Such …
Audit of Partnership Concerns | Guidelines | Advantages to Partnership Firm
Audit of Partnership Concerns – Guidelines Audit is not a compulsory one for a partnership firm. But as there are many advantages of getting the accounts; audited, now-a-days many …