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PREPARING TO WRITE (OBJECTIVES OF AUDIT REPORT (Formally present the audit…
PREPARING TO WRITE
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I. Review
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Focusing on the appropriateness of the tasks and activities that the audit entity performs and the associated controls.
As a result, reviews do not include audit opinions. Conclusion may be stated negatively
II. Examination
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Depending on the requirements of the third party, the agreed-upon level of evidence may be significantly limited or extensive.
Is a systematic process by which a competent, independent person objectively obtains and evaluates evidence regarding assertions about an entity or event, processes, operations or internal controls, for the purpose of forming an opinion and providing a report on the degree to which the assertions conform to an identified set of standards.