Audit

Auditing is the inspection that performance professional auditors to entity’s financial statements and others related financial records.

There are many topics that we covering related to auditing include:

  • Audit plan
  • Audit approaches
  • Audit reports
  • Audit opinion
  • Audit risks
  • Audit Procedures
  • Internal Audit
  • And many others importance topics related to auditing.

4 Types of Auditor’s Reports: Types of Audit Reports, Advantages, and Limitations

Audit, Audit Opinion

Definition: The audit report or auditor is the report that contains the audit’s opinion, which independent auditors issue after they examine the entity’s financial statements and related reports. These include financial statements, management accounts, and management reports. Or other reports like compliant reports. Mostly, those reports are issued based on auditors’ professional examination against the […]

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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

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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

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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

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What is Audit Committee? (Definition, Requirements, Role and Responsibilities and more)

Audit, Audit Committee

Definition: An audit committee is a group of non-executive directors set up by and work under the supervision of the board of directors of an entity. This committee is sometimes set up as the requirement of law, and regulation of the country or jurisdiction where the entity operating in, and sometimes is set up as

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Disclaimer Audit Opinion: Definition | Explanation | Example

Audit Opinion

Definition: Disclaimer opinion issues by auditors to financial statements when they could not obtain sufficient and appropriate financial statements to draw the conclusion or support their opinion. There are many reasons why auditors could not obtain sufficient and appropriate supporting documents. It can be because management does not have enough documents to support their accounting

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