Auditing Essentials

Auditors attempt to ensure that the books of accounts are properly maintained by the entity as required by law.

The purpose of an audit is to provide an independent examination of financial information of any entity and to express an opinion on the accuracy of the information.

An audit provides third-party assurance to stakeholders that the subject matter is free from material misstatement.

<p>Some commonly audited areas besides financial information include secretarial and compliance, internal controls, quality management, project management, water management, and energy conservation.</p> Signup and view all the answers

<p>Stakeholders may evaluate and improve the effectiveness of risk management as a result of an audit.</p> Signup and view all the answers