Auditing Principles & Practices

Auditing Principles & Practices by 3G Elearning
English | January 1, 2023 | ISBN: 1984679066 | 354 pages | PDF | 12 Mb
Businesses operate in fast-paced, competitive, and constantly changing environments today. As the business landscape evolves every day, their success depends on a company's ability to adapt to changes in the environment, achieve organizational objectives, and manage risks. In order to maintain control over an administrative environment, auditing is an important tool. When companies with complex structures lack adequate controls, they are exposed to numerous risks, frequent errors, and waste. Increasingly, businesses need to invest in technological development, improve their controls, reduce expenses, and improve their products to remain competitive. As a result, they require a large amount of resources, resulting in more credibility and market confidence in their balance sheets. The need for auditing has been growing in organizations and the emergence of doubts from its managers of the accuracy of audit assistance to obtain accurate information of the company's financial and equity situation, but the company fails to raise funds together with third parties, such as bank loans or opening capital investors for its investment. A financial statement audit enables the auditor to determine whether the financial statements provide a true and fair picture of the company's business at the balance sheet date, in accordance with generally accepted accounting policies. Planning, honesty, secrecy, audit evidence, internal control systems, skill and competence, work done by others, working papers, and legal frameworks are the basic principles of auditing. The importance of auditing financial statements will be discussed in this book. The purpose of this book is also to demonstrate how an organization can obtain financial resources with quality and precision by using auditing to avoid losses that cannot be recovered. This book is organized into seven chapters.