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:
“A process in the weather of the world
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Sits in their double shade.
A process blows the moon into the sun,
Pulls down the shabby curtains of the skin;
And the heart gives up its dead.”
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“It is easy to lose confidence in our natural ability to raise children. The true techniques for raising children are simple: Be with them, play with them, talk to them. You are not squandering their time no matter what the latest child development books say about “purposeful play” and “cognitive learning skills.””
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