shraddha (CA Final) (258 Points)
20 May 2013Hi friends
i dont have any experience of auditing and dont know how to get it done. can anybody please guide me that how to conduct audit? i want to know the whole process. if you cant write a reply please mention the resource(txt doc pdf weblink anything). it will be a great help.
Thanks in advance.
Ganeshbabu K
(Audit and Tax Advisory)
(48564 Points)
Replied 20 May 2013
CA Saroj Kumar
(Keen to learn something new every moments)
(2588 Points)
Replied 20 May 2013
Dear Suhani
Audit besically does not defines a single process for every one audiyt howevver to the some extent it provides a clear gudence. The few steps we always followings which is here i am wirting i holp it will help u:-
1. Carefully read the " Terms of Engagement or refrence"
2. Undertasnd the types of client business and Environment in which entity working.
3. Aftered reading TOR and knowledege of Client business you should have to engage in preliminary review of client it will helps you in determination of audit programme.
4. Prepare audit programme and include all thoose areas on the baisi of preliminary review and requiremnts in TOR.
5. Prepare the teams accordings to requiremnet in TOR or as per plan.
6. If possible must review your workings during the audit and compare with actual requirements.
However if u r going to properitery audit you need not do all these things. You have to understand the client business and do the audit . If u will provide client type i can provide you checklist.
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