Audit Assignment Help
Audit can be defined as process of examination of books and other accounting records to ascertain whether books reelects fair view of business operations or not. Audit plays important role in maintaining good corporate governance as it is done by independent professionals. The types of audit includes internal audit, statutory audit and risk focus audit.
It is undertaken to establish the validity of financial reports provided by management. It establishes the credibility of financial statement and helps management in fraud prevention and risk management.
The audit is done by qualified professionals as per the auditing framework. Auditing farm work is governed by different legislation, auditing and assurance standard, accounting standards issued by accounting and auditing regulators and sector specific regulatory rules.
The process of auditing includes audit planning, sample selection, identification of key audit matters, analytical procedure and framing of audit opinion. This process is complex and requires use of professional judgment. Through the audit procedure auditor examines the accuracy and authenticity of financial statement.
The study of audit subject requires comprehensive analysis of auditing framework and different audit techniques and because of this student at the initial stage faces issues in assignment of this subject.
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