by Dk Thu Dec 31, 2009 7:22 pmSallam me new here
4 posters
Welcome me
Mudassar Mazhar
- Posts : 5
Join date : 2009-12-31
Age : 34
Location : Chakwal
Welcome to ITKnowledge
Dk- Managment
- Posts : 2
Join date : 2009-12-31
Mudassar Mazhar wrote:Welcome to ITKnowledge
THnx.............
Super Admin- Posts : 14
Join date : 2009-12-30
Welcome to IT knowledge
kamrankhan143- Super Moderator
- Posts : 271
Join date : 2010-03-17
Age : 38
Location : Abu Dhabi
Welcome to IT Knowledge
Guest- Guest
The
concept or the vision of auditing has been subject to many changes
during the recent eras. In fact, the approach towards auditing as a
tool of check seems to have given many definitions in each period.
Since the environment is constantly changing, the principles and
methods on which the essentials of audit focus need to change, so as to
produce robust and efficient results which can be relied upon by all.
As
told earlier, an audit is a backdrop where the operations and results
of a business are analysed and deviation from the same are addressed.
Further, Suggestions for continuous improvement are provided. Hence it
is obvious that where such close relationship between business and
audit is apparent, the techniques and methodologies of auditing should
also be modified to suit the needs of business in order to ensure that
the same provides an effective input to the management.
Let
us proceed with a simple example-A grocery shop keeper commenced the
business with multiple branches with minimum possible capital. When the
business prospered, the activities flourished-Sales doubled, Working
capital enhanced, Statutory regulations tightened, locations
multiplied, business relations widened and the entire business process
became complex.
An
audit which starts with traditional audit techniques like vouching each
and every transaction, casting, tallying and thus computing profit may
seem to be satisfactory up to a point of time. Beyond this limit, the
entire audit operations become rather stereo-type, consuming much time
and eventually resulting to futility. Further, these deteriorate the
very essence of an audit.
===============================
Car Parts | Auto Parts
concept or the vision of auditing has been subject to many changes
during the recent eras. In fact, the approach towards auditing as a
tool of check seems to have given many definitions in each period.
Since the environment is constantly changing, the principles and
methods on which the essentials of audit focus need to change, so as to
produce robust and efficient results which can be relied upon by all.
As
told earlier, an audit is a backdrop where the operations and results
of a business are analysed and deviation from the same are addressed.
Further, Suggestions for continuous improvement are provided. Hence it
is obvious that where such close relationship between business and
audit is apparent, the techniques and methodologies of auditing should
also be modified to suit the needs of business in order to ensure that
the same provides an effective input to the management.
Let
us proceed with a simple example-A grocery shop keeper commenced the
business with multiple branches with minimum possible capital. When the
business prospered, the activities flourished-Sales doubled, Working
capital enhanced, Statutory regulations tightened, locations
multiplied, business relations widened and the entire business process
became complex.
An
audit which starts with traditional audit techniques like vouching each
and every transaction, casting, tallying and thus computing profit may
seem to be satisfactory up to a point of time. Beyond this limit, the
entire audit operations become rather stereo-type, consuming much time
and eventually resulting to futility. Further, these deteriorate the
very essence of an audit.
===============================
Car Parts | Auto Parts
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