Financial Audit - Audit Process and Techniques

Audit Process and Techniques

For collection and accumulation of audit evidence, certain methods and means generally adopted by auditors are:

  1. Posting checking
  2. Casting checking
  3. Physical examination and count
  4. Confirmation
  5. Inquiry
  6. Year-end scrutiny
  7. Re-computation
  8. Tracing in subsequent period
  9. Bank reconciliation
  10. Vouching
  11. Verification of existence, ownership, title and value of assets and determination of the extent and nature of liabilities

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