The audit process
To get a better understanding of the audit process, we can take a look at the definition of an audit. Audit – “an official inspection of an organisation’s accounts, typically by an independent body”. An efficient audit is one that reduces the audit risk to the targeted level, ensures that there are no material errors […]
Efficient and cost-effective audits
An efficient audit is one that reduces the audit risk to the targeted level, ensures that there are no errors contained in the financial statements while completed on time and within the budget. To ensure an efficient and cost-effective audit, we must understand the roles and responsibilities of both the client, or more specifically, the […]