Professional Documents
Culture Documents
AUDITING 1
AUDITING PROCEDURES (Tuanakotta Chapter
15-20)
• Accepting Audit Engagement or Continuing the Audit
Engagement
• Overall Audit Strategy
• Materiality desicion and implementation
• Audit team discussion
• Identify the inherent risk
• Assesing the Inherent Risk
AUDITING PROCEDURES (Tuanakotta Chapter
21-25)
• Significant Risk
• Understanding the Internal Control
• Evaluating Internal Control
• Communicating the weaknesess of Internal Control
• Completing the risk assesment
Accepting an Audit Engagement
AUDITING 1
Assesing the inherent risk
• Relevant ISAs : ISA 240.25,26,27, ISA 315.25,26
• What auditor do? pg. 335
• Attributes : pg. 335 (refer to pic 20-3)
• Documenting the risk (Table 20-1)
Assesing the inherent risk
• Attributes to assess the risk: The Impact and the
likelihood (refer to pic. 21-1 also)