What are the advantages and disadvantages of audit notebook 6 he maintains a book with him iii) principle of materiality: 11 and auditor has also to be quite concerned regarding the concept of materialitythis principle of materiality is and has always been fundamental to the whole process of accounting 10. Advantages of audit note book 1 audit report the audit notebook is helpful to prepare audit report the auditor can record the weakness of accounting records what are the advantages and disadvantages of internal audit business & finance the benefit of the internal audit is that proper accounting system is introduced accounting system is. Objectives of accounting for price level changes historical cost accounting financial statements are prepared on the assumption that monetary unit is stable. The relevance of auditing in a computerized accounting system 79 the relevance of auditing in a computerized software used in the organization in order to audit a computerized accounting system the last few years the general ledger note book. Disadvantages while standardization of written communications may be useful to an organization, it is essential to understand that there are some disadvantages.
I) state any two disadvantages of audit note book j) state the different steps involved in using accounting software k) state any two precautions against disadvantages of audit programme. I) state any two disadvantages of audit note book j) state the different steps involved in using accounting software k) state any two precautions against disadvantages of audit programme l) name the types of audit files. Notes for bcom part ii pages. Audit working paper and audit audit note book - duration: gupta ram 1,652 views 7:46 advantages and disadvantages of using mus in auditing - duration: 2:25 rutgers accounting web.
Audit program is infact a training instruments for the audit staff and also very useful for the new auditors it provides training and guidance to him so, it is rightly called the basic instrument for training for the staff at the right time of need. An audit program, also called an audit plan, is an action plan that documents what procedures an auditor will follow to validate that an organization is in conformance with compliance regulations. Audit programme is a legal evidence of work done by every assistant of the audit team it can be presented in the court of law if any client is taken against the auditor for negligence 6. Audit note book records all the weakness, errors and difficulties of previous year so, new auditor can easily understand the complexities of the business. When weighing up the advantages and disadvantages of laptop computers, it's important to bear in mind what you're comparing them to and how you plan to use them for your business.
What are its advantages & disadvantages of audit programme 10 write short notes on a) audit working paper b) audit note book chap 4 technique & procedure of auditing 11 explain the terms voucher how would you vouch the following important questions for bcom 2. The process of audit is carried on to find out the errors or frauds in the books of accounts (if any) audit report gives information about the errors and frauds committed while preparing the books of accounts whether knowingly or unknowingly. What is test checking in auditing article shared by where there is an efficient system of internal check and the business maintains a separate staff for internal audit, test checking can be a very reliable device to carry on the work of audit routine checking in auditing (objects, advantages and disadvantages) welcome to. It is a kind of audit which is conducted between the two periodical or tybcom auditing notes pdf sheet audits audit is a verification of the results shown by the profit and loss account and the state of affairs as shown by the balance sheet. Advantages of routine checking 1 accuracy the benefit of routine checking is that there is accuracy of accounting books and records the sub-total, casts and carry forward posting, balancing and transfer are stated as correct.
Auditing notes for later save related info embed share print search related titles pfmar sample disadvantages of audit programmed 1 the audit work becomes mechanical 2 it kills the creativity of the audit staff an audit note book is one of the most important document maintained by the auditor it is defined as a record. Auditing 1 lecture 1 the nature and issues of audit history of audit all advantages of continuous audit disadvantages alteration of figures after the audit work by the client totals at the end of a period should be recorded in the audit note book and be verified at the next audit. The auditor should make a note of all such transactions in audit note book which are recorded in the books but against which vouchers are missing he should prepare a list of such missing vouchers and try to trace them.
View test prep - (wwwentrance-examnet)-bu, bcom, 5th sem, acounting and finance, auditing-i sample paper 5 from vis std 181 at university of california, berkeley v semester bcom examination. A leading tutorial for commerce and arts stream notes _ahsec _dibrugarh university _gauhati university _seba _cbse question papers. Chapter 2 audit planning procedures & documentation 1 audit planning procedures & documentation audit planning refers to the planning by the auditor to enable them to conduct an effective audit in an efficient & timely manner & includes planning about area, scope, depth of transactions to be audited, time to be devoted, persons to be deployed for audit etc factors : complexity of audit.
Audit note book: an audit note book is one of the most important document maintained by the auditor it is defined as a record used mainly in recording audit, containing data on work done and comments made. Home 9th class notes computer science chemistry biology english pakistan studies english pakistan studies urdu 10th matric notes physics english 1st year notes. What are the importance and objective of the vouching march 12, 2016 rsm • ensures genuineness of the transactions noting in the audit note book 19 alteration 20 voucher control number objectives of vouching the basic objectives of vouching are as under: 1 to ensure that all the transactions are properly recorded in the books of.