what is audit going concern?

Q: What’s in an audit?

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

Q: What are the overall categories of Auditing procedures, briefly explain them?

A: Auditing: Auditing refers to the careful analysis of accounting records of a company to ensure their…

Q: How is audit strategy mapped out?

A: Audit strategy typically means setting scope, time and direction of an audit. Forming an audit…

Q: What are advantages of external public audit?

A: External audit relates to the examination of financial records in connection with the financial…

Q: What is the audit risk model? Explain the elements of the model

A: Ans. Audit risk refers to the risk that an auditor may issue an unqualified report due to auditor's…

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: what each type of audit opinion means?

A: Audit - The audit is the independent examination of the financial aspects of the company. To obtain…

Q: What is the difference of Internal Audit from External Audit?

A: Lets start with the basics. Audit is a examination of the books of account of the organization.…

Q: What is an external auditor?

A: Auditor is a person who audits the accounts of the business.

Q: How does Real Time Processing affect an audit?

A: Real-time data processing is the program for running multiple rows and columns of data during a…

Q: What are analytical procedures, and why are they a useful audit tool?

A: Analytical procedures are those procedures that are used as a substantive test to obtain evidence…

Q: Why audit is a systematic process?

A: Audit: It is an examination of the financial statements of the company. It helps in determining…

Q: What are the components of audit risk and how do these relate to each other?

A: Audit risk refers to the possibility that financial statements are significantly incorrect, even if…

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

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

Q: What is an audit trail?

A: The accounting records of an entity are provided in an audit trail. It is used to examine different…

Q: Why auditors gather evidences?

A: Auditing is basically an inspection or checking of books of accounts maintained by the business.…

Q: What is an audit, and how does it add to the integrity ofaccounting information?

A: A financial statement displays the financial information regarding an entity. The presented…

Q: What is IT auditing?

A: Auditing:   Auditing refers to the procedure for providing independent report over the presentation…

Q: What is an audit, and why are audits performed?

A: An audit is assessing vouchers, books of accounts records to see that they are accurately and…

Q: How does control risk affect the nature, timing, and extent of further audit procedures?

A:

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: What are the benefits of audit planning?

A: Introduction:- Audit Planning play very important role to complete the audit effectively within the…

Q: What are advantages of internal public audit?

A: Given: The advantages of the internal audit in the public sector.

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

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Q: What is the purpose of performing preliminary analytical procedures in audit planning?

A:

Q: What are the similarities between internal and external audit

A: Audit is an official financial inspection of an organization's account, usually by an independent…

Q: What is the difference between assurance services, attestation services, and auditing services?

A: Auditing: Audits are analyses and examinations into a particular area of your business. Information…

Q: How does audit risk relate to audit evidence?

A: Audit Evidence   The information obtained by the auditor from numerous sources (finance records,…

Q: What is the benefit of Generalized Audit Software in an audit?

A: Definition:   Generalized audit software (GAS): The software which assists an auditor to perform…

Q: What is the importance of knowing the Transaction Cycles in Auditing?

A: Audit is a process in which auditors has to find out whether the financial statements are present…

Q: Explain the concept of audit and its objectives

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

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: what are Audit Assumption

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

Q: Why is it necessary to evaluate the attributes of audit evidence? Explain

A: The information gathered by an auditor to determine the correctness and conformity of a…

Q: why each audit evidence is important?

A: Answer: Auditor while performing audit perform set of procedures and collect evidences to support…

Q: What are the possible obstacles or hindrance of operational audi

A: The auditor is not expected to, and cannot, reduce audit risk to zero and cannot, therefore, obtain…

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: By type, timeliness, and scope of additional audit processes, what do we mean

A: Here's how it's done. Auditors use audit processes to test the accuracy and completeness of the…

Q: How is the primary key critical in preserving the audit trail

A: Audit Trail:   An audit trail refers to a set of records or destination and source of records that…

Q: Whare are the advantages of internal goverment audits?

A: Traditionally, there was no concept of Government Audits since Government was the one which…