Audit & Assurance | A Complete Guide | Economic Grapevine https://economicgrapevine.com/category/audit/ The hub of Technology & Finance Tue, 28 Nov 2023 08:51:47 +0000 en-US hourly 1 https://economicgrapevine.com/wp-content/uploads/2020/12/cropped-cropped-Economic-Grapevine-Logo-new.png Audit & Assurance | A Complete Guide | Economic Grapevine https://economicgrapevine.com/category/audit/ 32 32 The Five ethical threats in Auditing | Safeguards https://economicgrapevine.com/the-five-ethical-threats-in-auditing-safeguards/?utm_source=rss&utm_medium=rss&utm_campaign=the-five-ethical-threats-in-auditing-safeguards https://economicgrapevine.com/the-five-ethical-threats-in-auditing-safeguards/#comments Tue, 26 Jan 2021 10:57:50 +0000 https://economicgrapevine.com/?p=2336 Audit is an independent review of the Financial Statements by external auditors. The auditors are professionals that are not related or connected to the company’s operations and that is why…

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]]> https://economicgrapevine.com/the-five-ethical-threats-in-auditing-safeguards/feed/ 7 Why do Managers Fear Audit and Auditors? https://economicgrapevine.com/why-do-managers-fear-audit-and-auditors/?utm_source=rss&utm_medium=rss&utm_campaign=why-do-managers-fear-audit-and-auditors https://economicgrapevine.com/why-do-managers-fear-audit-and-auditors/#respond Mon, 31 Jan 2022 11:07:38 +0000 https://economicgrapevine.com/?p=4377 Being an auditor working with an audit firm for over 3 years now, I couldn’t help but notice how the client’s employees and managers have somewhat of an inherent fear…

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]]> https://economicgrapevine.com/why-do-managers-fear-audit-and-auditors/feed/ 0 What Is Familiarity Threat In Auditing? https://economicgrapevine.com/familiarity-threat/?utm_source=rss&utm_medium=rss&utm_campaign=familiarity-threat https://economicgrapevine.com/familiarity-threat/#respond Tue, 23 Nov 2021 21:17:00 +0000 https://economicgrapevine.com/?p=4177 Familiarity Threat in Auditing is one of the 5 types of ethical threats. These ethical threats are basically obstacles to the objectivity of the audit engagement and therefore, should be…

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]]> https://economicgrapevine.com/familiarity-threat/feed/ 0 Introduction to Computer-Assisted Audit Techniques (CAATs) https://economicgrapevine.com/introduction-to-computer-assisted-audit-techniques-caats/?utm_source=rss&utm_medium=rss&utm_campaign=introduction-to-computer-assisted-audit-techniques-caats https://economicgrapevine.com/introduction-to-computer-assisted-audit-techniques-caats/#respond Sun, 29 Jan 2023 22:47:34 +0000 https://economicgrapevine.com/?p=5255 What Is CAAT? Computer Assisted Audit Techniques (CAAT) is an innovative and increasingly popular method used by auditors to enhance the effectiveness and efficiency of their audit work. CAATs involve…

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]]> https://economicgrapevine.com/introduction-to-computer-assisted-audit-techniques-caats/feed/ 0 What Does Cut-Off In Accounting Mean? https://economicgrapevine.com/what-does-cut-off-in-accounting-mean/?utm_source=rss&utm_medium=rss&utm_campaign=what-does-cut-off-in-accounting-mean https://economicgrapevine.com/what-does-cut-off-in-accounting-mean/#respond Sun, 29 Jan 2023 04:12:33 +0000 https://economicgrapevine.com/?p=5250 What Is Cut-Off In Accounting? Cut-off in accounting refers to the process of determining the specific point in time at which transactions and events are recorded in the financial statements.…

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]]> https://economicgrapevine.com/what-does-cut-off-in-accounting-mean/feed/ 0 Audit Evidence Hierarchy and How it is Obtained? https://economicgrapevine.com/audit-evidence-hierarchy-and-how-it-is-obtained/?utm_source=rss&utm_medium=rss&utm_campaign=audit-evidence-hierarchy-and-how-it-is-obtained Wed, 17 Mar 2021 00:25:12 +0000 https://whataccounting.com/?p=3194 Audit evidence is necessary to support your audit opinion and lack of evidence raises questions regarding the reliability of the audit report. Audit evidence is a piece of information that…

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]]> Inventory Tests of Controls https://economicgrapevine.com/inventory-tests-of-controls/?utm_source=rss&utm_medium=rss&utm_campaign=inventory-tests-of-controls Wed, 10 Mar 2021 13:59:24 +0000 https://economicgrapevine.com/?p=3148 Inventory is one of the main items of the statement of profit or loss and needs to be recorded accurately. To check whether the internal control system for counting &…

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]]> Audit Tests of Controls https://economicgrapevine.com/audit-tests-of-controls/?utm_source=rss&utm_medium=rss&utm_campaign=audit-tests-of-controls Mon, 08 Mar 2021 19:09:34 +0000 https://economicgrapevine.com/?p=3076 Tests of controls are the procedures that an auditor performs to test the effectiveness of the control systems of a client. A control system is a process that the client…

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]]> Sufficient and Appropriate Audit Evidence | Definition | Explanation https://economicgrapevine.com/sufficient-and-appropriate-audit-evidence-definition-explanation/?utm_source=rss&utm_medium=rss&utm_campaign=sufficient-and-appropriate-audit-evidence-definition-explanation Sat, 13 Mar 2021 06:15:26 +0000 https://economicgrapevine.com/?p=2789 In an audit, the auditor issues their opinion about the financial statements based on the audit findings and supporting evidence. The auditor just cannot come up with an opinion and…

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]]> What is an Unmodified Audit Report? https://economicgrapevine.com/what-is-an-unmodified-audit-report/?utm_source=rss&utm_medium=rss&utm_campaign=what-is-an-unmodified-audit-report Mon, 22 Feb 2021 10:39:03 +0000 https://economicgrapevine.com/?p=2791 An audit is a review of the financial statements by independent auditors in which the auditors express whether the financial statements present a true and fair view. This opinion is…

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