Finance Audit
The financial audit is also referred to as an external or independent audit. A very basic definition for the financial audit states that it is an "audit of financial statements". The main objective of a financial audit is to determine whether the financial statements (including the balance sheet, income statement and cash flow statement) of an organization provide a fair representation of the operations and financial condition of the organization. The academy will felicitate the financial audit as per the following:
- Ethics and independence
- Standard Operating Procedures
- Engagement team management and skills
- Communication
- Documentation
- Planning
- Understanding the audited entity
- Audit evidence.
- Form of opinion.
- Elements required in the auditor's report.
- Modifications to the opinion in the auditor's report.
- Determining the type of modification to the auditor's opinion.
- Comparative information-corresponding figures and comparative financial statements.