For the purpose of providing financial information

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for the purpose of providing financial information used in decision making. Auditing is determining whether recorded information properly reflects the economic events that occurred during the accounting period.
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Types of Audits JMS Feb 2018 Acc 3531 audit fundamentals
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Operational Audit JMS Feb 2018 Acc 3531 audit fundamentals A systematic review of any part of an organization’s activities in relation to the efficient and effective use of resources. Purpose: assess performance, identify areas for improvement and developed recommendations
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Compliance Audit JMS Feb 2018 Acc 3531 audit fundamentals An audit to determine whether the auditee is following specific procedures, rules, or regulations set by some higher authority Results are reported to someone within the organizational unit being audited
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Financial Statement Audit JMS Feb 2018 Acc 3531 audit fundamentals An audit to determine whether the overall financial statements are stated in accordance with specific criteria. Auditor’s report
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Types of Auditors JMS Feb 2018 Acc 3531 audit fundamentals Internal Auditors Independent external auditors Inland Revenue Assessment Officers Government Auditors
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