Financial (attest) audit is primarily concerned with expression of audit Bodies receiving financial assistance is governed by ______ of CAG’s DPC Act NATURE OF FINANCIAL ATTEST AUDIT expression of audit opinion on a set of financial statements. It includes: 6 Auditing Standards of CAG of India. Financial Attest Audit Manual, Internal Control Evaluation Manual, . Service) Act , provides free access for the CAG and his auditors to all premises and . F urther, as per para of Financial Attested Audit Manual of the Comptroller and .

Author: Voodoogis Yotilar
Country: Madagascar
Language: English (Spanish)
Genre: Politics
Published (Last): 8 March 2016
Pages: 471
PDF File Size: 11.18 Mb
ePub File Size: 3.74 Mb
ISBN: 437-5-90167-941-2
Downloads: 85362
Price: Free* [*Free Regsitration Required]
Uploader: Malasida

Voluntary or Forced Loans.

Planning by inducement and planning by Direction, Centralized planning vs. The same was however booked as expenditure in Indian Financial System by Sh.

About project SlidePlayer Terms of Service. Failure to observe AS may also affects the quality of the audit work done. Log In Ajdit Up. Level F, Unit 2: Skip to main content.

Regulations on Audit and Accounts. To make this website work, we log user data and share it with processors. Documentary evidence is more reliable than oral evidence.

The evidence should be collected with reference to the general and any special objectives of audit. Dewett and Sh M. D 72 A B C D Ans Which of these broad characteristics of audit working papers applies particularly to photocpies Clarity and conciseness Legibility and neatness Completeness Accuracy B 73 Working papers should be restricted to matters, which are important, pertinent and useful for the purpose. Methods of Debt Redemption. Evidence, which is accepted by the auditee entity, is not always reliable.


First type involves comparison of the recorded value of a component with its budgeted value.

Reporting materiality Reporting materiality applies at the end of the audit when all errors are evaluated and viewed in relation to their known effects on the financial statements. Oral evidence must be considered as the least reliable. Registration Forgot your password? Nagarro – Whole Testpaper Pce, Jaipur.

Introduction, Concepts and overview of Financial Attest Audit Manual

A systematic error is one which will only occur in defined circumstances A systematic error affects only a proportion of the population A random error is one which could have also occurred in any of the transactions that were not selected for testing. Feedback Privacy Policy Feedback.

Published by Beverly Simmons Modified over 3 years ago. Planning materiality may be set at a lower level than reporting materiality It is easier to plan for errors material by nature At the planning stage, the audit team is concerned primarily with materiality by value Materiality by context is easy to assess at the planning stage D 55 Misclassification of revenue expenditure resulting in a saving in a grant when in fact there has been an excess is an example of.

Share buttons are a little bit lower. My presentations Profile Feedback Log out. Environmental issues, ecological preservation, conservation of natural resources. The auditor may gain increased assurance even when audit evidence obtained from different sources is not consistent. It involves analysis of significant ratios and trends including fluctuations that are inconsistent with other relevant data or which deviate from expectations.

Introduction, Concepts and overview of Financial Attest Audit Manual – ppt download

Inherent risk Control risk Detection risk. Decentralized Planning Pre-requisites of a Successful Planning. Public debt Classification of Public Debt. International auditing standards and practice statements issued by IFAC 6. Useful technique for identification of risk areas during planning and audit completion states and also for a better understanding of the entity and its operations.


The audit opinion provides reasonable assurance that the financial statements are free from material misstatement and irregularity. Analysis of Financial Statements: The provisions in this Manual are generally applicable for any kind of financial attest audit irrespective of the basis of accounting.

If you wish to download it, please recommend it to your friends in any social system. The Union and State Governments follow cash based accounting while Corporations and autonomous bodies mainly follow accrual based accounting The Union and State Governments follow accrual based accounting while Atteest and autonomous bodies mainly follow cash based accounting The Union and State Governments and Corporations and autonomous bodies follow accrual based accounting The Union and State Governments and Corporations and autonomous bodies follow cash based accounting A RTI Mumbai 7 52 A B C D Ans In the context of Government Accounts in India, the key feeder systems include: Purposes of Public Debt.

The principal source of evidence for audit conclusions will be the records of the auditee. MSO Audit including financial attest audit manual 5. Auth with social network: D Visual evidence is highly reliable finsncial confirming the ownership of the assets and their value. Definition of Auditing The accumulation and evaluation The accumulation and evaluation Of evidence about information.