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Unit 4: Audit Certifictae - Coggle Diagram
Unit 4: Audit Certifictae
Income Tax Audit Certificate vs. Report
Nature
Opinion
Suggestions
Scope
Characteristics
Prescribed Format
Responsibility
Addressed To
Considerations for Audit Certificate
Limitations of Examination
Specific Records Covered
Fundamental Assumptions
Conduct of Audit
Information and Explanations
Self-Contained Document
Figures from Audited Financial Statements
Addressed To
Audit Certificate vs. Audit Report
Audit Certificate vs. Audit Report:
Audit certificate verifies accuracy
Audit report provides detailed findings
Certificate for arithmetic accuracy
Report for extensive audit results
Auditor's responsibility is higher for certificate
Auditor's responsibility for report
Internal auditor cannot issue audit certificate
Certificate implies guarantee of correctness
Report summarizes collected information
Certificate based on 100% correct figures
Report conveys a clear picture of business