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.