Audit Process and Techniques
For collection and accumulation of audit evidence, certain methods and means generally adopted by auditors are:
- Posting checking
- Casting checking
- Physical examination and count
- Confirmation
- Inquiry
- Year-end scrutiny
- Re-computation
- Tracing in subsequent period
- Bank reconciliation
- Vouching
- Verification of existence, ownership, title and value of assets and determination of the extent and nature of liabilities
Read more about this topic: Financial Audit
Famous quotes containing the words process and/or techniques:
“Experiences in order to be educative must lead out into an expanding world of subject matter, a subject matter of facts or information and of ideas. This condition is satisfied only as the educator views teaching and learning as a continuous process of reconstruction of experience.”
—John Dewey (1859–1952)
“The techniques of opening conversation are universal. I knew long ago and rediscovered that the best way to attract attention, help, and conversation is to be lost. A man who seeing his mother starving to death on a path kicks her in the stomach to clear the way, will cheerfully devote several hours of his time giving wrong directions to a total stranger who claims to be lost.”
—John Steinbeck (1902–1968)