Audit Procedures

Overview: The audit procedure is one of the most important things that auditors need to ensure that they are well and correctly prepared, tailored, and executed to minimize audit works and reduce audit risks. Sales revenues are one of the sensitive areas that auditors need to place their great attention on since it is the

Overview: Depreciation expenses are one of the significant expenses that reporting in the company’s income statement. Those expenses are the costs that the entity charged to fixed assets used for operation during the periods through depreciation by using the systematic methods accepted by certain accounting standards. In the income statement, depreciation expenses are allocated in

Explaination: Bank confirmation is the auditor’s audit procedure to test the existence, accuracy, and ownership of the bank account and bank balance of the entity. This procedure is normally performed during the interim audit rather than at the completion stage. However, if there is no interim, then it is performed at the final fieldwork the

Definition: Negative confirmation is an audit procedure that use to confirm the balance between the client’s records and third-party records. Third-party here could be the client’s customers, suppliers, or banks. This confirmation requires a response only if the difference between both parties’ records is found. If there is no difference found, responding to the auditor