What are the characteristics of a confirmation? Distinguish betweena confirmation and external documentation.

Q: What analytical procedures might be informative regarding the existence assertion?

A: The existence of assertion is the assertion that liabilities, assets and shareholders equity…

Q: What does an audit procedures should be applied to Required Supplementary Information?

A: Definition:   Audit report: An audit report refers to the written report issued by an auditor to…

Q: What is Stategic Audit and its elements? explain.

A: Large, heterogeneous corporations organize themselves into divisions to interrupt the management of…

Q: what are used as evidence and the purpose of each type of document

A: Types of documents and purpose of the document as evidence.   1.Physical examination: A physical…

Q: What does an acknowledgment certify?

A: An acknowledgment is a formal declaration made by an individual to verify the genuineness and…

Q: What is the purpose and used of audit confirmation materials?

A: Introduction:- Audit confirmation is the practice of receiving a direct answer from a third party in…

Q: What role does the audit trail play in terms of configaration?

A: Audit trail is a series of documents, files or other evidence of accounting transaction which are…

Q: Differentiate between the techniques of vouching and verification.

A: The main objective of verification shows how assets and liabilities are valued properly. To…

Q: What are the differences between an external audit and an internal audit?

A: Internal audit is performed within organization by the auditor appointed by management.

Q: What is the meaning behind Recognition Criteria? How does it help determine when an event should be…

A: Accounting ideas, usually referred to as accounting assumptions or accounting principles, are the…

Q: what is a validity check?

A:

Q: Describe the term certificate of compliance?

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: what does audit Evidence consist?

A:

Q: What role does the audit trail play in the task of confirmation?

A: Definition: Audit trail: Audit trail refers to the sequential track of a transaction. The audit…

Q: hether or not a report is effective?

A: To evaluate an organization's strategy's performance and efficiency, consider how it ties your goals…

Q: What is the confirmation process?

A: Confirmation Process: Confirmation process refers to the process for the authentication of the…

Q: what are Audit Assumption

A: Answer: The audit that is conducted is such that there are assumptions made.

Q: dit Review P

A: A pre-audit is  initial phase in  auditing process. A pre-audit examines a firm's or an individual's…

Q: Distinguish between internal and external independent audit?

A: Audit is an independent examination of books of account by auditors.Auditor is a person who conducts…

Q: What characteristics should audit evidence have?

A: It is about the two key features of the audit evidence, based on which the appropriateness content…

Q: what are releveant audit evidence

A: According to the question given, we need to give an explanation of the audit evidence.Audit…