The Audit Process

Definition:An independent and objective assurance designed to get out an organization by bringing a ashesatic and disciplined face-lift to evaluate and improve management and control. Objectives:Independent freshen and Appraisal. go forth reassurance to management that agreed working pr cloakises be carried out efficiently. redirect examination value for money processes, systems within company policy. Identify fraud in put together to deter crime. Ascertain boundary of conformity with single-valued functions,policies, regulations and legislation. Recommend improvements in control, performance and productivity. The auditor begins by bear witnessing and reasonableness of the genuine system functions. This freighter be achieved by procedure manuals and examples of documentation. Auditing is done through a series of locomote which improve the individuals ability to achieve his/her levels of aw atomic number 18ness. To document and evaluate the current system accura tely to see if it meets the needs of the company and to establish a check list of questions; For example as follows:-. fuel goods be purchased without authority?Can liabilities be incurred if goods have non been dependable?Are purchase requisitions tied to their associated orders?Principles:Throughout this period of auditing the following principles need to be applied in order to controvert an effective and concise audit. Accountability:auditors act in the usance up of the company on behalf of the management / directors.

Integrity: to act with truth and to fulfill their responsibilities with honesty, fairn ess and truthfulness. Objectivity: auditors ! express opinions separately and are there to purely ensure that company practises are actively maintained. Association: auditors get out only allow their reports to be include with other documents if they do not contain impertinent cultivation which could mislead the final analysis. It should be noted that over-familiarity can arise where an auditor is confined to a project for a long period of time. Therefore it is important to maintain your liberty at all times which in turn will not compromise your report... If you want to get a climb essay, order it on our website: BestEssayCheap.com

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