Question
In relation to materiality principle, determining a
percentage to be applied to a chosen benchmark, would require the exercise of ________Ā on part of the auditor. Refer to the following information to answer the next 4 questions (Q17 to Q20) The word Audit is derived from Latin word āAudireā which means āto hearā. Auditing is the systematic examination of financial statements, records and related operations to determine adherence to generally accepted accounting principles, management policies and stated requirement. Importance of auditing can be judged from the fact that even those organizations which are not covered by Companies Act get their financial statements audited. It has become a necessity for every commercial and even non- commercial organization. A company appoints an auditor who submits his opinion on the truthfulness and fairness of the financial performance and position of the company. An auditorās Report is the format of result of all the effort that goes into the audit. Communicating the Auditorās findings to interested users is part of all audits. Thus, the Final phase of an Audit involves preparing that communication, which is known as auditorās report.Solution
Professional Judgement is the application of relevant training, knowledge and experience within the context provided by auditing, accounting and ethical standards in making informed decisions about the courses of action that are appropriate in the circumstances of the audit engagement.Ā It is required with respect to Materiality and audit risk, nature, timing and extent (NTE) of audit procedures, evaluating sufficiency & appropriateness of audit procedures, evaluating management judgement in applying applicable FRF and drawing conclusions based on audit evidence
In rice, 'Dee-geo-woo-gen' is a source of
In which year the National Food Security Act was passed?
A subdivision on the basis of some important deviations such as surface texture, erosion, slopeĀ and stoniness is called as
The cooling of seed during germination in order to accelerate flowering when it is planted is referred as
What is a defining feature of a pyranose structure in saccharides?
Which of the following is correctly matched ?
Name the branch of agricultural science deals with principles, & practices of soil, water & crop management.
Which nutrient deficiency is associated with "Grey speck" disease in oats?
Which agenda of SDGs of UN addresses zero hunger?
Cholesterol oxidase (CO) protein present in Streptomyces showed acute toxicity to
