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2010-09-08 09:06
Audit evidence is all the information used by the auditor in arriving at the conclusions on which his opinion is based and includes the information contained in the accounting records underl… Read More
2010-09-06 20:23
(a) Assertions about classes of transactions and events for the period under audit;i. Occurrence – transactions and events that have been recorded have occurred and pertain to the enti… Read More
2010-08-25 15:10
Controls over Banking of Receipts: a) Receipts should be banked daily. The receipts should be banked intact - for example no cash payments should be made out of cash receipts. Banking intact… Read More
2010-08-23 08:38
Initiation Stores requisition Stores keeper Authorization Purchase order Purchasing officer Custody Goods received note Receiving officer Recording Invoice Account department Documenting the… Read More
2010-08-22 09:42
These are often summarized by using the mnemonic SOAP MAPS as follows: a) Supervision b) Organization c) Arithmetic and Accounting d) Physical e) Management and Monitoring f) Authorization g… Read More
2010-08-21 14:51
Based on our previous studies we can now identify the following principal benefits that may arise for an entity from a sound system of internal control: a) Assurance that all transactions… Read More
2010-08-20 14:14
Cash book is a book of original entries in which all of the cash transactions are recorded very firstly. The cash transaction of a concern needs a separate book named as cash book. A cash… Read More

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