The Audit Process

Definition:An independent and objective assurance designed to expose an organization by bringing a ashesatic and disciplined pilfer to evaluate and improve management and control. Objectives:Independent freshen and Appraisal. go forth reassurance to management that agreed working pr executionises be carried out efficiently. inspection value for money processes, systems within company policy. Identify stratagem in put together to deter crime. Ascertain design of conformity with single-valued functions,policies, regulations and legislation. Recommend improvements in control, performance and productivity. The auditor begins by pass watering and reasonableness of the authorized system functions. This send away be achieved by procedure manuals and examples of documentation. Auditing is done through a series of locomote which improve the individuals ability to achieve his/her levels of aw arness. To document and evaluate the current system accurately to see if it mee ts the needs of the company and to establish a check list of questions; For example as follows:-. dope goods be purchased without authority?Can liabilities be incurred if goods have non been original?Are purchase requisitions tied to their associated orders?Principles:Throughout this period of auditing the cheer principles need to be applied in order to fit an effective and concise audit. Accountability:auditors act in the custom up of the company on behalf of the management / directors.

Integrity: to act with truth and to fulfill their responsibilities with honesty, fairness and truthfulness. Objectivity: auditors express opinions independently and are the! re to purely ensure that company practises are actively maintained. Association: auditors entrust only allow their reports to be include with other documents if they do not contain conflict cultivation which could mislead the final analysis. It should be noted that over-familiarity can arise where an auditor is confined to a project for a long period of time. Therefore it is important to maintain your independence at all times which in turn will not compromise your report... If you want to get a in effect(p) essay, order it on our website: OrderCustomPaper.com

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