The term “analytical procedures” means evaluations of financial information through analysis of plausible relationships among both financial and non-financial data. Analytical procedures also encompass such investigation as is necessary of identified fluctuations or relationships that are inconsistent with other relevant information or that differ from expected values by a significant amount.
Audit evidence obtained as a direct written response to the auditor from a third party (the confirming party), in paper form, or by electronic or other medium.
SA 501 deals with the objective of the auditor is to obtain sufficient appropriate audit evidence regarding
The objective of the auditor is to design and perform audit procedures in such a way as to enable the auditor to obtain sufficient appropriate audit evidence to be able to draw reasonable conclusions on which to base the auditor’s opinion.
If the user auditor plans to use a Type 1 or Type 2 report as audit evidence to support the user auditor’s understanding about the design and implementation of controls at the service organisation
Relaxation to Old Course Students to commence 3 years of Practical Training
Determining materiality involves the exercise of professional judgment. A percentage is often applied to a chosen benchmark as a starting point in determining materiality for the financial statements as a whole
The objective of the auditor is to identify and assess the risks of material misstatement, whether due to fraud or error, at the financial statement and assertion levels, through understanding the entity and its environment, including the entity’s internal control, thereby providing a basis for designing and implementing responses to the assessed risks of material misstatement.
The Institute of Chartered Accountants of India (ICAI) introduced the Revised Scheme of Education and Training (RSET) with the aim of enhancing the skillset and competency of aspiring Chartered Accountants. As this new scheme comes into effect, many CA students may have questions about the transition from the Existing Scheme to the Revised Scheme
The objective of the auditor is to plan the audit so that it will be performed in an effective manner