Types of Audit Evidence Audit evidence is the information that the auditors of an organisation gather from it in the process of conducting an audit (Also see Essential Processes in the Audit of Financial Statements). They can use this evidence when they assess and review the financial transactions of the company, the internal controls it …
Types of Audit – Tax Audit A tax audit refers to the official examination of the tax return that the taxpayers declare by the tax department in compliance with the requirement of law. This is another type of important audit apart from the financial statement audit that the audit firms in Johor Bahru usually perform. …
Types of Audit – Financial Statement Audit A financial statement audit is a review on the annual financial statements of an entity to allow independent auditors from audit firms in Johor Bahru to express audit opinion in a true and fair view. They should ensure that the entity has prepared and presented its financial statements …
Types of Audit – Compliance Audit A compliance audit is a type of audit service that pays more attention to whether the entity adheres to the related rules as well as local laws and regulations. This type of audit also examines whether an entity follows its internal rules, policies, procedures, regulations and decisions. Both internal …
Types of Audit Risks and Their Sources Audit risk refers to the possibility that a material misstatement is present in the financial statements of the company even though an auditor from an audit firm in Johor Bahru has assessed and audited those statements. In other words, audit risk is the risk that the company’s financial …
What is Substantive Audit Approach? There are various approaches that the auditors from the audit firms in Johor Bahru can apply to perform audit activities. Among them, there is an approach called the substantive audit approach. The auditors would use this approach to confirm the transactions and events in financial statements by covering a large …
The Differences Between Audit and Assurance Audit refers to the systematic assessment the auditors will perform on the company’s books of accounts as well as other documents so that they can determine if those statements are presenting the true and fair view of the financial position of the company. On the other hand, assurance means …
How Do Auditors Close an Audit? If the audit firms in Johor Bahru wants to compete with more sizable companies, they need to know how they should close an audit definitively and professionally (Also see What Are the Essential Audit Approaches?). If you own a small audit firm, by complying with proper protocols in closing …
Types of Audit – Statutory Audit and Non-statutory Audit Statutory Audit A statutory audit is an engagement of a financial statement audit between an entity and an independent audit firm in Johor Bahru that comply with the requirement of local laws in the sector that the organisation is operating. The financial statement audit is required …
Types of Audit – Statutory Audit and Non-statutory Audit Read More »
What is Audit Materiality? When an audit firm in Johor Bahru is performing an audit (Also see Principles of Auditing), audit materiality is crucial. It is bacause the misstatements the company has committed will be perceived as material if it has a high possibility of reasonably influencing the financial decision of the users of the company’s financial statements. When …
