What is Substantive audit approach / Vouching approach?
i-ask! | Have a question? Ask Tutor! What is substantive approach? What is meant by direct verification approach or vouching approach to conduct an audit assignment? There are many different auditing...
View ArticleWhat is Detection risk?
i-ask! | Have a question? Ask Tutor! What is detection risk in auditing? How detection risk is reduced by management and auditor conducting an audit? What is the relationship of this risk with other...
View ArticleWhat is meant by Assertions in audit or auditing?
i-ask! | Have a question? Ask Tutor! Can you please explain in simple words what are assertions or management’s assertions in audit engagements or auditing as a subject? Please explain this term to me...
View ArticleWhat is meant by ‘lowering detection risk’ in auditing?
i-ask! | Have a question? Ask Tutor! What does lowering of detection risk mean? Why auditor is required to reduce detection risk while performing audit procedures in an audit engagement? Please explain...
View ArticleWhy auditor cannot provide Absolute level of assurance in audit engagement?
i-ask! | Have a question? Ask Tutor! What are the reasons why is it not possible to give absolute level of assurance in an audit engagement or assurance engagement by the auditor or practitioner?...
View ArticleHow can auditor overcome inherent limitations of an audit engagement?
i-ask! | Have a question? Ask Tutor! Auditor conducts audit engagement with limitations in place known as inherent limitations of an audit. How auditor overcome such limitations inherent in the audit?...
View ArticleWhat is meant by Significant Matters in auditing?
i-ask! | Have a question? Ask Tutor! Please explain what are significant matters in auditing and what do they mean? Why are they called with this name please provide examples Significant matters are...
View ArticleWhat is meant by inherent limitations of audit and what are these?
i-ask! | Have a question? Ask Tutor! What is meant by inherent limitations of audit? What are these limitations and how these limitations limits the auditor in conducting audit engagement? How many are...
View ArticleWhat is meant by Subject Matter in assurance engagements in auditing?
i-ask! | Have a question? Ask Tutor! What is assurance engagement? What does subject matter refers to in the definition of assurance engagement and what is auditor’s connection with subject matter in...
View ArticleWhat is the difference and relation between Business risk Inherent risk...
i-ask! | Have a question? Ask Tutor! I am having a hard time understanding different kinds of risks in auditing and how these risks are linked together and the relationship each of these have with...
View ArticleWhat is Business risk?
i-ask! | Have a question? Ask Tutor! What is business risk in auditing and who is responsible to control such risk. Also explain how is that controlled and what importance it has for auditor to conduct...
View ArticleWhy auditors may fail to detect fraud?
i-ask! | Have a question? Ask Tutor! Putting the discussion aside for a moment whether auditor is responsible to detect fraud or not please explain the reasons why auditor might fail to detect fraud...
View ArticleWhat is Audit around the computer?
Audit around the computer means that processing done by the computer system needs not to be audited as auditor expects that sufficient appropriate audit evidence can be obtained by reconciling inputs...
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