Financial Accounting and Auditing Paper X (Introduction to Auditing) Semester VI .. Short notes on Concept of Going Concern. (April, ). 5. 18 Feb The below TYBCom audti notes prepared by Akram Pathan(Genius zone commerce classes, chembur, khardev nagar, Mumbai ). PROFESSIONAL STANDARDS Auditing Standards: GAAS: Generally Accepted Auditing Standards GAGAS: Generally Accepted Government Auditing.
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So, an auditor should detect such frauds using skill, knowledge and facts. Confirming the existence and value of assets and liabilities. Errors tybckm those mistakes which are committed due to carelessness tybcom auditing notes negligence or lack of knowledge or without having vested interest.
Errors are of various types. Management commits frauds to deceive tax, to show the effectiveness of management, to get more commission, to sell share in the market or to maintain market price of share tybcom auditing notes. Verifying whether all the statutory requirements are fulfilled or not. So, the explanation given to notss auditor also remains false.
Objectives of Auditing – Free Notes
Some of them are:. Normally such frauds are committed by the top level executives of the business. Such frauds are as follows:.
So, they are to be checked tybcom auditing notes. Under or over valuation auditng stock. Com Notes auditing Objectives of Tybcom auditing notes. Examining the system of internal check. Detection of fraud is the main job of an auditor. Objectives of Auditing auditing. They are as follows:. Checking arithmetical accuracy of books of accounts, verifying posting, costing, balancing etc.
Objectives of Auditing
The main objectives of audit are known as primary objectives of audit. Frauds are those mistakes which are committed knowingly tybcom auditing notes some vested interest on the direction of top level management. Checking the proper distinction of capital and revenue nature of transactions.
tybcom auditing notes Detection and prevention of frauds. Primary Objectives Of Audit. Proving true and fairness of operating results presented by income statement and financial position presented by balance sheet.
Subsidiary Objectives Of Audit. Errors may be committed without or with any vested interest. Detection and prevention of errors.
Introduction to Auditing TYBCOM Semester VI
Verifying the authenticity and validity of transactions. Its objectives are classified into two groups which are given below:. Basic objective of auditing is tybcom auditing notes prove true and fairness of results presented by profit and loss account tybcom auditing notes financial position presented by balance sheet. These are such objectives which are set up to help in attaining primary objectives.