When doing a Risk Assessment on a client, what does an auditor look at?
Because risk is such a significant component of an audit, it is of the utmost significance that auditors approach risk evaluation with the utmost caution. The auditor is tasked with several overall objectives, one of which is to identify the risks that a company faces (both business risk and the risk of material misstatement) and […]
What are the Overall Purpose and Main Features of an Audit?
The general objective of an audit is discussed in ISA 200 Overall Objective of the Independent Auditor and the Conduct of an Audit in Accordance with International Standards on Auditing. According to ISA 200, the following objectives must be met for an audit of financial statements to be considered successful: “To obtain reasonable assurance about […]
