7- Explain the duties and responsibilities of auditors in different phases of audit process
7- Explain the duties and responsibilities of auditors in different phases of audit process
Homework Answers
Duties and responsibilities of an auditor:
1, Duty to sign Audit Report
2, Duty to attend General Meeting
3, Duty to Report to the members of the company
4, Duty to enquire on secure loans and advances
5, Duty to enquire whether personal expences have charged to Revenue
6, Duty to enquire whether transactions represented merely by book entries.
7,Responsibilty of an auditor to gain an understanding of business operations of auditee company
8,Interact and colloberate with management throughout the organisation.
9,evaluate risks and tests key controls throughout the year
10,Assist external auditors in completion of financial statements audit.
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7- Explain the duties and responsibilities of auditors in
different phases of audit process
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