operational audit

Q: How to audit PPE?

A: Introduction:- PPE means:- PPE means property , plant, Equipment Which is identified as Fixed asset…

Q: Describe the procedures typically performed when conducting an IT audit related to: a. Systems…

A: Audit procedures Audit procedures are those steps that are performed by auditors to get all the…

Q: dvance and crec

A: As per standard accounting procedures revenue is to be recognized when it is earned and not when it…

Q: Differentiate Audit Plan to Audit Charter

A: Audit plan is the whole guidelines to be followed at the time of audit conduction. It will help the…

Q: Relationship between IT Control and Financial reporting

A: Information Technology (IT) control can be defined as the specific activities that are performed by…

Q: Explain implementation and maintenance of adequate internal controls.

A: Internal Controls: Internal controls are the controls established within an organization to check…

Q: auditing procedures

A: Auditing procedures are the procedures done by auditor to check the genuineness of balances of…

Q: Evaluation of internal control

A: Effectiveness of the internal control of an organization’s system is known as an evaluation of…

Q: relationship between application controls and transaction-related audit o

A: Application control is a check on the application in which the wrong execution of data input is…

Q: analytical procedures

A: First option is correct because analytical procedures assist to identify the risk by comparing the…

Q: What are c Post-audit Tasks?

A: Post-Audit An audit is a review of a consultant's accounting system, bookkeeping practices, and…

Q: How to execute stewardship as an audit commitee chair

A: Stewardship is the job role of supervision of an organization by the chairperson of such…

Q: Discuss audit planning.

A: An audit is a type of professional service provided to a customer. The evaluation of accounting,…

Q: grity of information. policies, plans, procedures, law ssets. efficiency of onerations

A: Segregation of duties is an internal control measure. It refers to the division of duties among more…

Q: audit plan objectives

A: Introduction:- Audit plan is the first stage in the audit process. Audit planning is a process of…

Q: Explain the function of standards andmeasurements in economy, efficiency, andprogram results audits.

A: Internal Auditor: An internal auditor is a qualified professional hired by an entity to provide an…

Q: independent auditon

A: Independent auditor is appointed by shareholders to report on the financial affairs of the entity's…

Q: Define Operational risk.

A:

Q: dit from Ex

A: Internal AuditInternal audit is a company's department that analyses the efficacy of its procedures…

Q: Explain Post-Audit Tasks

A: Post audit: A combination of procedures for assessing a capital budgeting decision afterward the…

Q: Define operating activities.

A: Explain the meaning of operating activities:Statement of cash flows: This statement reports all the…

Q: Subject: internal auditing - needs to perform control testing

A: Introduction: Auditors have a wide range of instruments at their disposal while doing an audit for a…

Q: audit risk.

A: First option is wrong because the inherent risk is the risk of material misstatements that may exist…

Q: ne independence and objectivity as it relates to internal audit functi

A: The internal audit function refers to the process of asses the internal functions of a company as…

Q: Differentiate Internal Audit from External Audit.

A: Auditing refers to checking books of documents with an intention to express a reasonable opinion on…

Q: Define Institute of Internal Auditors.

A: The Institute of Internal Auditors was established in 1941, the Institute of Internal Auditors…

Q: Define Auditors's report.

A: An auditor's report provides an opinion on the validity and reliability of a company’s financial…

Q: audit

A: Not likely to a violation     as auditor can show his work to any outsider if required by law

Q: internal controls

A: Financial statements may be manipulated by the employees of the organization to exploit…

Q: internal reporting.

A: Option a is wrong because one of the options is correct. Option b is wrong because ABC can only be…

Q: Discuss internal control consideration.

A: Internal control is a method to ensure the integrity of financial information, targets and…

Q: Distinguish the role of internal and external auditor

A:

Q: situations involving auditor reports-

A: Audit reports are issued by auditors to express his opinion regarding the truthiness and fairness of…

Q: audit pl

A: Audit planning is a vital area of the audit primarily conducted at the beginning of audit process to…

Q: Elaborate auditing process in

A: Auditing: Auditing is outlined as the method of evaluation of the formal financial documents…

Q: Assurance

A: Assurance: Assurance is a financial coverage that delivers payment for an occurrence that is sure to…

Q: . Auditor

A: Management should address written representation about a firm's annual Audit to the

Q: process and steps involve in internal execution

A: Internal auditing is a process in which the internal controls and accounting processes are checked…

Q: Define assurance and assurance services.

A: Assurance basically is a type of audit with the main intention of improving the transparency and…