Audit Procedures Archives - Page 4 of 4

What is An Analytical Procedure?: Definition, Use, and Types

Definition: Analytical procedures are the procedures that use by auditors to obtain audit evidence so that they could assess and evaluate the financial information that presents in the financial statements based on the concept that the financial information has plausible relationships with the other’s financial and non-financial information or data. Auditors use the analytical procedures […]

What is An Analytical Procedure?: Definition, Use, and Types Read More »

What is Audit Sampling? Definition, Types, Purpose, Objectives, 5 Methods

Audit, Audit Procedures, Audit Sampling

Definition: Audit sampling is the application of audit procedures to less than 100% of the total population and all the items in the population have the same chance to be selected. This is to ensure that the items selected represent the total population which enables auditors to draw their conclusion and express their opinion based

What is Audit Sampling? Definition, Types, Purpose, Objectives, 5 Methods Read More »

What is Audit Reasonableness Testing? (Definition, Explanation, and Example)

Audit, Audit Procedures

Definition: Audit reasonableness testing is the audit technique or procedure used to assess the reasonableness of accounting transactions, events, or balances that are recorded in the financial statements by auditors by using two or more different sources of data or information to predict accounting transactions or events. The audit reasonableness test is also one of

What is Audit Reasonableness Testing? (Definition, Explanation, and Example) Read More »

Substantive Audit Testing: Definition, Explanation, and Example

Audit, Audit Procedures

Overview: Substantive testing or substantive procedure is the technique used by the auditor to obtain the audit evidence in order to support the auditor’s opinion. Substantive testing is part of the substantive audit approach and is performed at the execution stage of the audit. It is different from to test of control. The number of

Substantive Audit Testing: Definition, Explanation, and Example Read More »

Audit Test of Controls: Definition, Explanation, and Example

Audit, Audit Procedures

Definition: An audit test of controls is a type of audit examination on the internal control of an entity after they perform an understanding of internal control over financial reporting to assess whether the control is efficient and effective and whether the auditor could rely on those control or not for their audit purpose. Those

Audit Test of Controls: Definition, Explanation, and Example Read More »

Audit Procedures: Definition | Types | Example | List | Preparation

Audit, Audit Procedures

Definition: Audit procedures are the processes, techniques, and methods that auditors perform to obtain audit evidence, enabling them to conclude the set audit objective and express their opinion. Sometimes we call audit procedures audit programs. These two terms are referring to the same thing. Auditors normally prepare audit procedures at the planning stages once they

Audit Procedures: Definition | Types | Example | List | Preparation Read More »

How to Prepare An Internal Audit Program? Tips and Guidance

Audit, Audit Procedures

Overview: Before we start a step-by-step on how to write an audit program, we would like to start with the overview of internal audit along with some definitions and, more importantly, what you will get after reading this article. An internal audit is the independence department working and reporting directly to the audit committee. The

How to Prepare An Internal Audit Program? Tips and Guidance Read More »