Audit Standard and Engagement Planning

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Author:
Anonymous
ID:
215905
Filename:
Audit Standard and Engagement Planning
Updated:
2013-04-26 02:10:53
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KN Audit Standard Engagement Planning
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KN - Audit Standard and Engagement Planning
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  1. 10 Generally Accepted Auditing Stds

    T I P P I C A N O E
    • T - Training and proficiency
    • I - Independence
    • P - Due Prof care
    • P - Planning and supervision
    • I - Internal Control
    • C - Corroborative audit evidence
    • A - Accounting = GAAP
    • N - No new acct princples
    • O - Omitted disclosures none
    • E - Express an opinion
  2. Professional Skeptism
    • Attitude of:
    • - questioning mind
    • - critical assessment of evidance
  3. 3 Types of Audits
    1. Compliance - Laws/Regs followed

    2. Operational - Effect/Efficiency/Economy, done by CPA/IA/Govt Aud

    3. F/S - exam to give obj opinion as to fairness of F/S presentation in conformity with GAAP

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