Need help- audit procedures?
(Guest)
Hello all,
Plz tell in brief wt is Audit Procedures? n wts a relevancy of NTE (Nature,Time,Extent) in A.P.?
2 Replies
sumit
(CA final Student)
(151 Points)
Replied 01 May 2012
depending upon the books kept by client...the nature of audit procedure will be applied...like if there is more errors then it'll take more time and more cross checks from other areas...
If some classes of transactions are affected then the time allotted to those transactions will be significantly higher than other classes and lastly the extent of checking required will be significantly higher like cross checking and external confirmation and ratio analysis...
So these procedures done for checking are called audit procedures...i hope you got the answer...
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