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.

What Are the Principles of Financial Due Diligence? (Purpose and Limitation Included)

Audit

Financial Due Diligence is the professional reviewing service provided by the Professional Accountant. and this service is normally offered by professional accounting firms. Financial Due Diligence is the type of reviewing service or negative assurance. All of the professional firms have to set proper internal control procedures and guidelines to make sure that the services […]

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What is the Importance & Purpose of Financial Due Diligence?

Audit

Financial Due Diligence is one of the review engagements usually requested by potential investors to perform a financial review of the target company. Financial Due Diligence usually is concerned with reviewing and identifying the targeted company’s Financial Position, and potential hidden liabilities like continence liabilities which are not stated in the Financial Statements and financial

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Summary of ISA 200: Objective of Independent and Conduct of Auditor

Audit, ISA

This is the complete summary of ISA 200, Overall Objectives of the Independent Auditor, and the Conduct of an Audit in Accordance with International Standards on Auditing. The summary follows the standard structure of ISA which starts from Introduction, and follow by Objective, Definition, Requirement, and finally Application of Standard. Introduction Overall responsibilities of auditor auditing

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[Update 2017] Summary of ISA 720: The Auditor’s Responsibilities Relating to Other Information

Audit, ISA

This is the Summary of SA 720, The Auditor’s Responsibilities Relating to Other Information in Documents Containing Audited Financial Statements. The summary here follows the standard structure of ISA which is followed by the Introduction, Objective, Definitions, and Requirement of this standard.  The summary here is just for your quick check, and the full standard is

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Internal Audit Vs. External Audit: Key Differences You Should Know

Internal Audit

Overview The internal audit function relates to an organization’s internal control and risk management. It ensures a company follows the adopted accounting standards. The external audit function provides a fair and independent opinion about an organization’s financial statements. They report independently to the shareholders of the company. Both internal and external auditing functions provide valuable

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Internal Auditor’s Responsibilities on Fraud (Here is What PPIA Said)

Fraud, Internal Audit

Establishing the internal audit department is part of the organization’s internal control and risk management, which is why the internal audit department exists. The risks that internal auditors should oversee are limited to internal control, operational risks, compliance risks, financial risks, and the risk of fraud. In this article, we will discuss the role of an

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What is Internal Audit Department? (Responsibilities and More)

Audit, Internal Audit, Types of Audit

Overview: The internal Audit Department is the independent or non-operation department in the organization set up by the board of directors and audit committee to perform internal audit services in the company. It is part of the company’s risk management since part of the internal auditor’s responsibility is also to assess how the company’s risks

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5 Types of Due Diligence Services, Benefits, And Limitations

Audit

Overview: Due Diligence is the reviewing engagement service that is normally performed in the investigation of the target business, or companies related to business performance, liabilities, assets, financial statements, and other subject matters. Due Diligence services vary depending on the nature of engagement; however, there are five types of Due Diligence. This article will explain the basic

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Review Engagement (Limited Assurance): Definition and Example

Audit

The Review Engagement or Limited Assurance: The review engagement or limited assurance is sometimes called negative assurance. This type of engagement is different from a reasonable assurance engagement. In other words, it is different from the audit. Normally, in this engagement, the auditor performs fewer procedures and reviews to support a conclusion on the financial

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