Characteristics of auditing Related: Principles Governing an Audit - Auditing Concepts, Auditing & Secretarial Practice

Question

Characteristics of auditing Related:  Principles Governing an Audit - Auditing Concepts, Auditing & Secretarial Practice

Answer

Methods, Auditing Standards, Independence, Professional Skepticism, Materiality, Audit Risk, Audit Evidence, Audit Documentation, Audit Sampling, Audit Completion, Audit Reporting, Audit Communication, and Audit Quality.

Answer

1. an auditing is a systematic and independent examination of records, statements and performance of enterprise by a qualified person.
2. an important characteristic of auditing is that it should be done in unbiased manner.
3. The Other characteristic of auditing is that its main purpose is to show true and fair view of financial condition of an enterprise.
4. in auditing ,evaluation is done with the help of vouchers, written communication done with clients and outsiders.
5. it is prepared as audit report which satisfy the auditor about the truthfulness and fairness of statements of the company.
6. Auditing starts where accountancy ends.

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