What are the types of audit procedures used during substantive testing, briefly explain them.

Q: What does the term is Audit risk mean?

A: Audit: It refers to the examination, analysis, evaluation, or review of the company's financial…

Q: Prior to the auditor conducting an audit there are stages which need to be followed. What are these…

A: There are many phases ,which go through many process to complete the work of Audit. After receiving…

Q: When reviewing a current audit file, what should you look for?

A: A financial audit is a review of financial accounts to ensure they are accurate.

Q: What’s in an audit?

A: Audit definition -  Audit is an independent examination of financial information of an entity…

Q: What are the contents of an audit plan?

A: Audit plan: It can be defined as the specified guideline to be followed by the auditor at the time…

Q: What is a post-audit, and what is the purpose ofthis audit?

A: Audit:   An audit is an organised and self-regulated inspection of books of accounts. This…

Q: EXPLAIN AND WHAT KIND OF  RISK ASSESSMENTS   FACING BY AUDITOER OR AUDITING?

A: Risk assessment is a crucial part of the auditing process as it defines which procedures need to be…

Q: What are the different types of analytical procedures? Describe how they may be utilized in an audit…

A: Analytical methods : Analytical processes are the techniques used by auditors to analyze the…

Q: What is the primary constraint on audit evidence?

A: Audit evidence is primarily, the data and accounts of the client and its associated third parties,…

Q: developing and evalueting audit documentation

A: Audit documentation is the way of recording the audit plans, procedures and findings in a working…

Q: What do you focus on most when evaluating the relevance of information or audit evidence? Whether…

A:

Q: What should an auditor understand with respect to Information and Communication on an audit?

A: Auditing means the inspection of financial accounts of the company to determine if the records are…

Q: What are some audit procedures that can be performed using CAATs?

A: Computer-Assisted Audit Techniques (CAAT's): The technique which assists an auditor to perform audit…

Q: How is the audit risk model used to plan the audit?

A:

Q: The auditing assesses the reliability and sufficiency of the information through _____________ a.…

A: The auditing assesses the reliability and sufficiency of the information through _____________ .

Q: Explain the factors that influence the reliability of audit evidence.

A: Audit evidence is all the information that the auditor uses in arriving at the conclusions on which…

Q: Explain the concept of audit and its objectives

A: Audit means checking, examining and verifying the authenticity of financial information and…

Q: Explain Audit evidence and why these are important? Explain with the help of example.

A: Audit evidence refers to the information and supporting documentation gathered by auditors during…

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: essentially describe what materiality means in the context of the audit.

A: The most typical type of audit is a financial statement audit. A financial audit is an objective…