PROCESS OF AUDITING

EXHIBIT 1: AUDIT STAGES/PROCESS/SCOPE

AUDIT STAGES/PROCESS/SCOPE

1. Ascertain type of audit

1.Pre-Audit Evidence Before Commencement 2. Documents from client
3. Knowledge of Business
4. Preparations by Client

2.How to Gather Evidence Audit Plan 1.Overall Plan

2.Audit Programme

3.Evidence About Audit Evidence 1.Internal Controls

What 2.Transactions
3.Balances

1.Inspactions
4.Method of Obtaining 2.Observation
evidence Audit Techniques 3.inquiry
4.Confirmation
5.Analystical Review

1.Evaluate controls
2.Vouching
3.check Posting
5.Step in Obtaining Evidence Audit Procedures 4.Check Casting
5.Ledger Scrutiny
6.Verification
7.Valuation
8.Disclosure

6.Evaluate Evidence Audit papers Audit Note book/ Working Papers

7Evaluate Evidence Audit Report Give Opinion