How do auditors obtain their evidence? They use one of seven different audit procedures including inquiry, observation and recalculation.
Audit Program: Fresh vs. Canned?
Canned audit programs could include unnecessary procedures creating extra work for auditors. In most cases, writing a fresh audit program from scratch is the best way to go.
The Structural Threat
When auditors report to the auditee and not to the governing body, they are suffering a structural threat to independence.
Management and auditor responsibilities for internal control
Management is ultimately responsible for establishing and implementing internal controls. Both the COSO literature and the GAO’s Green Book make that very clear. But because auditors use internal control concepts extensively in their work, the line can get blurred regarding management and auditor responsibilities for internal control. You see, the COSO model and the Green […]
Do I need an audit, a review, or a monitoring visit? What is the difference?
If you have doubts that your audit customer understands what you do and how important you are 🙂 , share this article with them: Plenty, my friend! Plenty. So, you think you need an audit? Or maybe you heard that you could get by with a review instead? Maybe you were asked to find someone […]