H��VMo�0��W�6 �5}���ˆ V��m����8h� ���#c9I���:�H��{|tۯgY��+�y\���٭�M���V�����z���,�,S�5�f�~�U}6^/Vp����՝���� Audit or Auditing is a process of collection and evaluation of evidence for the purpose of reporting on economic information. A good audit planning will help the auditor to minimize its risks, improve audit efficiency, and meet its objective … *~�� ��d`��y@�n�n������+��v-�:�O P��oS ʙA6�00�\�Y���� @ʜ��T��Q � �!H/ Sorry, your blog cannot share posts by email. It is also exposed a brief history about the emergence and development of internal audit and regulatory framework. %���� Meaning of Cost Audit: The terminology issued by the CIMA defines Cost Audit as “the verification of the correctness […] Auditing should thereby provide for a more objective assessment, at least in appearance. ��/r���Y�Cxg�O�s��&*�y�{D�?7�VΦ�6)��i�h@�H� Q $x�3#r��v4���?z��t�����=�i�O���2Wس�)5���$}�،~jP�����t��%��v�͐G�kK�{��� ĘJ|MK[k%{:��+24��4��z�Z�݀�����jB8N-��qZ��&����|��I�����g��@�Q,���Ƈ�\�l�s�/V)@8����ڰfu��g�s Auditing is governed by professional standards, � Kh$hV��N0'���R���j��ɴF�y�D]v�+�b�����D_T���`:T�r���7��� �����Im3 G���q�C-x�����u� ��64�dy D@�O��P������:�1�ι��ۑ~���0Nr�5Ů�݄AwB,Mz�lw������8#:ˆ����i�Z�X�(���Z�[j�|B�'��=@�+Y;6������M��Ӎc>�����F��.�ɤi��;��4��f�M���iU�o��:d^\�Ʉ���QS��P��$DL��)�h�( �[:m��������h( �PGA��)��""Jb�`sW-9�H��!mM����@ZK_5���%0���c�o������vU�-8���w��W���[�6���Ƅ �>��8�5������oG�JQSp$%R2�$i��1ϙ-�`\����� .

�;�.����fb+˻��0��0c�YW�|"X Audit Meaning. �vLy�PD�P~S��JV�غ��-b�ۯ�S=��=8i��G��V�Nː��ӹ�2S���!m��LIf���/9����xk�� Auditing Definition: The term ‘audit’ means an unbiased examination of the financial statements, i.e. Meaning of Cost Audit 2. %PDF-1.5 �oE59�����D.�ݐNh�P�g���~352�y��{�L��{����� Auditing is an examination of the books of accounts and vouchers of the business by an independent person who should be qualified for the job, in order to ascertain their accuracy. Audit planning is a process of making strategy and planning how the auditing will be done by the auditors. The auditor has to verify the financial statements and books of accounts to certify the truth and fairness of the financial position and operating results of the business. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in … ����M��x� .T-$�t�h����K����d�&ߤ�����9W��yZq�N��G�n,���+9���i�թY�Q� �>^�4Y#�"�tE�~6͘�+�r� �:�U۩. |~� ��d�Q���e���H�Ddl"�ғ ���]. The basic objective with which auditing is done are: The auditor is given a free hand to the books, accounts, statements enabling him to thoroughly check them and if satisfied to certify that books have been properly drawn up and represent a true view of the financial position of the business. YSM�v�ذW�D�/��5|�m��m�oz8{�i���W����1�?c>���~q���w��F�\n��{��ئ�}׸n�nz�'o6�m���i�ޚ���cP������?���?���:�f��iڮ'q=9g���o�?����^�z����')�_���?z��!n����i���i��S�p��栆�m���j�������/d�tk��d�V��#���j��zk-Q4zkt�n�j��.6��ݸ�z���ڨ�7D�m��GS|���"�D����:l�")���` ��]�+6�/���n�����5�%3�{�k2������*4;����^5��������5jh��~7y�6��bO,��Ks8�*�1N�jlh�f�yӈ���&УuG�I/@�����nw����xV~�f�$�������QQ�n��Uw[�z���IT�� On�Qi�M�!��9�h�p���+7�i�Pk�w �Top�YH��#�v��!t��%�1.�������XG��kGYy�����r6��ů��no>��_�'Ҩ.�h���P0��/fi�_bP�������֍��I�NS�c|C� �@��b�V�U9j��U]>�qU]9������o�F�bN�c�S���oH9����A�����}K2:��� =�A��R�gL���r��`@IH����� �{>�2J2O�u����T��a������k&��&}- ��= ��3F��e:o`0��#`Yӓ����oIAt�sf��/r�oh"�jiJ��(��r�G0w��������`m���a���ʔ�0�v��at ;Ck�����3�è��p�±ly׀��x�J 㩓�V�Ջ�X-�벸�ё�C��q�:��ު�ysq��7�����$ܑ�G";��{E,�ZOLi����FM^��7 .��54F��TIԂn�]��p�hk�� ���(�6��f vm���I_hM�����O��mA�i' �����DIY艹��`��C~:��]#x�ܶiɪh��@N.��M�����d'}C�5�Y5�*9�����y���En~d���|����|��=o�Gn� ���#i�]��~�%����A��!� 3}���� v�5֔�^��� g�)b3-�"+�tԱ)�a�zȞ��tt�JP��=����Œ�����nup����a�����ʶ�Ps�3�oT�֍j�%sĒ%����a� '�1MVy7��-���vH��4��<7���I\�ˋi��MUL���Sdl��y����D0��>I�u&�n� g��>�}�\p�����9���y�� Cost Audit Report Rules, 1996 5. Objectives of Auditing .

endstream endobj 505 0 obj <>stream Auditing & Monitoring Definitions Auditing: Auditing is a formal, systematic and disciplined approach designed to evaluate and improve the effectiveness of processes and related controls. account books and other relevant documents such as vouchers, invoices, bills, receipts, etc., of a business entity, regardless of the size, nature, orientation and legal structure, carried out by an auditor so as to give an opinion on the financial statement. Auditing is an examination of the books of accounts and vouchers of the business by an independent person who should be qualified for the job, in order to ascertain their accuracy. 535 0 obj <>stream o!s�d�ۀ+�"Lt*�,�n�x/Mɣ�����=��.��}���� ������Qz��{�]���m+�b�����8��ɬ�rO!l��_�"q�`kt�M�ga�FSa 韹+����m�DS�X�����s)->귮s �B2E3�쁂�.A��h�����$��^/�4��l�9�DE :���NU�U[h���S3���w����Qn(|/y��ܨ�f����ڄE? �&� ��CD�}���&4W����݋�p�נ/*)X�/˛�k����)�]!o��w�oh�lזuB�]]A��B��JJ)�;B�ٗǏ�e����y��/W���n��P3�������|�� 5M݌�V�a~j��ZH�8xL3

ADVERTISEMENTS: In this article we will discuss about:- 1. To avoid such mistakes being committed the accounts are kept up-to-date.