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Importance of Auditor Independence

Introduction An audit can be considered a highly important process during the course of the fiscal year of the company. As a matter of fact, the audit process is supposed to be taken seriously by the organizations because of the high level of dependence it holds for...

Importance of audit for big corporate houses

Introduction Over the course of years, the importance of audit has increased exponentially. Following issues and scandals of global nature, like Enron, there has been an escalating emphasis of audit divisions and making sure that it is conducted in order to ensure...

Importance of Audit Evidence

Introduction Audit Evidence can be regarded as an increasingly important tool within the audit process, primarily because of the reason that it really impacts the outcome of the audit process, in terms of the report that is generated. Therefore, it is of tantamount...

Importance of Audit Engagement Letter

Introduction Audit Engagement Letter can be defined as an agreement that is signed between a client, and an accounting firm, in order to maintain the existing accounting functionality of the business. This documents indicates the beginning of the audit engagement of...

Importance of Audit Documentation

Introduction The audit process can be considered as an increasingly important aspect, primarily because of the reason that it is considered highly important for stakeholders. This importance is mainly vested on the grounds of enabling stakeholders, and in particular,...

Importance of audit checklist

Audit Checklists Checklists are audit tools of quality assurance professionals in the field of inspections and audits. The audit professionals have the task of verifying and check compliances with various accounting standards adhering to their auditing standards as...

Importance of Audit Charter

Introduction Documentation of various different processes tends to be increasingly important in order to ensure that the required KPIs are duly met so that auditors are able to fulfill their duties with the proper groundwork. As a matter of fact, it can be seen that...

The benefit of Auditing for SMEs

Introduction The importance of audit has increased exponentially over the years. Regardless of the size of the company, the audit tends to be an equally important tool for all companies because of the importance it holds in terms of enabling transparency within these...

Auditor’s Independence

Auditor’s independence refers to an independent working style of the auditor being unbiased, unfettered, uninfluenced, and being fully objective in performing audit responsibilities. The concept of independence means that the auditor is working independently carrying...