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Detailed explanation of each & every topic of AUDIT for better understanding

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SIr, what are the examples of Audit Risk at Account Balance Level and at the class of Transaction level ?
NikitaNikita asked 6 years ago • 
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Sir, what is Letter of Weakness?
NikitaNikita asked 6 years ago • 
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What are the steps to assess the Internal Audit function of an eneterprie?
NikitaNikita asked 6 years ago • 
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You have been appointed auditor of a large Industrial Company which has an established Internal Audit Department. You are required to state the interse relationship between the Statutory and Internal Auditor.
NikitaNikita asked 6 years ago • 
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The Auditor of Bank has conducted Audit for 07-08. In 08-09, he is reappointed. He does not want to check internal controls system again as last year it was effective and he has evidences in working papers of last year. Is Auditor justified ?
NikitaNikita asked 6 years ago • 
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Distinguish between Reserves and Provisions
NikitaNikita asked 6 years ago • 
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Distinguish between Capital Reserve and Reserve Capital
NikitaNikita asked 6 years ago • 
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The assertions used by auditor to consider potential misstatements about account balances at the period end.
NikitaNikita asked 6 years ago • 
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In auditing the auditor checks the specific assertions of the items appearing in the financial statements and opines about the overall assertions they signify. Explain specific assertions and overall assertions in this context.
NikitaNikita asked 6 years ago • 
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Which resolution is required in EGM to appoint First Auditor by shareholders?
NikitaNikita asked 6 years ago • 
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As per section 139(6), shareholders are given 90 days to appoint the first auditor at EGM if BOD fail. From where does this 90 days start i.e from Registration or from default of BOD. Also which resolution is required at EGM to appoint First Auditor?
NikitaNikita asked 6 years ago • 
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