DETERMINING MATERIALITY IN AUDIT
Materiality is fundamental to an audit and is applied in planning and performing audits, as well as evaluating the effect of misstatements on the accounts.
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AUDIT EVIDENCE AND SAMPLING
Auditors shall 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. Audit evidences obtained must be relevant to the assertions and the risks identified during the Risk Assessment Process.
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AUDIT OF GROUP FINANCIAL STATEMENTS ISA 600 (Revised & Redrafted)
One of the standard that saw significant changes when the Clarified Standards were issued is ISA 600 on the auditor’s responsibility for group financial statements, including…
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AUDIT COMPLETION GOING CONCERN, SUBSEQUENT EVENTS AND AUDIT OPINIONS
Professional and technical competency is one of the corner stone of the audit profession As adequate job knowledge is vital for any audit staff to perform their task effectively and …
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AUDIT OF INCOME STATEMENT ITEMS, LIABILITIES AND RELATED PARTIES
Professional and technical competency is one of the corner stone of the audit profession As adequate job knowledge is vital for any audit staff to perform their task effectively and …
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AUDIT OF ASSETS – PPE, INVENTORIES, INVESTMENT PROPERTIES, INVESTMENTS, RECEIVABLES & IMPAIRMENT OF ASSETS
Professional and technical competency is one of the corner stone of the audit profession. As adequate job knowledge is vital for any audit staff to perform their task effectively and …
AUDIT FUNDAMENTALS – CONTROL TESTING, SUBSTANTIVE PROCUEDURES, ANALYTICAL PROCEDURES, AUDIT EVIDENCE & STOCK TAKE OBSERVATIONS AND AUDIT DOCUMENTATION
Professional and technical competency is one of the corner stone of the audit profession. As adequate job knowledge is vital for any audit staff to perform their task effectively and …
PLANNING & RISK ASSESSMENT IN AUDITS OF FINANCIAL STATEMENTS
The corner stone of an efficient and effective audit is the planning stage, which unfortunately have been overlooked by public practitioners over the years. This had amongst others, resulted in the inability to identify key risk areas and …
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CONSIDERATIONS OF SPECIFIC ITEMS IN AN AUDIT (ISA 501), EXTERNAL CONFIRMATIONS (ISA 505) AND INITIAL AUDIT ENGAGEMENTS (ISA 510)
Professional and technical competency is one of the corner stone of the audit profession. As adequate job knowledge is vital for any audit staff to perform their task effectively and …
MODIFIED AUDIT OPINION VS MODIFIED AUDIT
The Auditor’s Report is the auditor’s primary means of communication with an entity’s stakeholders as such, it has to be meaningful and …
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