Audit proposal Essay example
College
Essay
Finance & Accounting
Pages 3 (753 words)
Download 0
An audit is a process of planning, gathering of evidence, investigating the evidence and writing a report about the findings including recommendations for betterment of the process. An audit is a vital aspect of any organization and its undertaking is equally more important. …

Introduction

This therefore shows that an audit should be frequently undertaken and in a very concise manner. Another reason it should always be undertaken is that it helps mitigate the possibility of any risks in the operations of the business. In line with the above, an auditor selected to conduct one to an organization needs to write an audit proposal to convince the management on the importance of conducting the audit and how cost effective they are likely to do it and achieve the organizational objectives. A proposal must be detailed and thorough, prepared in an ethical and professional manner (Blazek, 2008). Types of Audits applicable There are several forms of audit that can be performed to Kudler fine foods. This is to ensure its smooth operations, sure financial stability, and accountability and the most is, the audit to ensure that it’s system controls function effectively. Among the types of audits we have; financial audits, this is done ascertain the reliability, reliance, fairness, accuracy of the financial data. Financial data that can be relied upon aids in the planning of several company activities, good financial data helps an organization in focusing into the future (Blazek, 2008). ...
Download paper
Not exactly what you need?

Related papers

The Lack of an internal audit department in a company called Mawarid Islamic finance in the UAE
The organization specializes in developing Shariah complaint economical or financial services. It provides eMurabaha that allows its clients to buy the goods offline or online; financing for the purchase of the items; letter of guarantee covering bib; online labor guarantees, and advance payment bonds, together with guarantees for the retention monies, customs duty, labor, home financing,…
The analysis of EC Proposals and the Statutory Audit
Blame was levied at rating agencies, directors of companies in the financial system and their regulatory agencies, as well as accounting and auditing professionals. This led to a number of regulatory responses that were aimed at strengthening controls over the operations of financial institutions and enhancing financial reporting. These responses have not only been limited to governments in the…
audit
The company’s reserves have also increased during the current financial year which shows that its investors are considering the company lucrative and are planning to have a long term association with it. The company’s current ratio is 2 which portray quite strengthened financial outlook of the company in terms of liquidity and optimum utilization of its resources. We have been appointed as the…
Audit
In the year 2003, IAPC was accepted as a series of restructuring regarding the auditing guidelines in order to further reinforce the setting-standard procedures. The IAASB mainly contributes in delivering auditing process related information clearly to the public as much as possible (International Federation of Accountants, 2011). This paper intends to analyse and critically discuss the…
A report entitled "Audit concentration :lack of competition in the large company audit market"
The Big Four Companies audit almost all the companies under FTSE 100 and FTSE 350. The report elaborates whether the auditing of the large companies in the hands of the Big Four companies are a matter of concern or not (“Big Four find Competition Commission audit conclusions Lacking”). Though the plan of CC was not successful but there was question whether other audit companies are to be given…
Audit
The auditor should consider whether to acknowledge the commitment since inherent risk increases the generally risk of the audit. It is often beneficial to set aside transactions into three types- routine, non-routine, and evaluation when valuing inherent risk.  Little Digger’s auditors may not use the system that gives the precise outcome to them, the result is mainly inherited by the risk…
Audit
This has resulted in the emergence of the phrase that “auditors are the dogs that did not bark during the crisis”, and thus their role in helping avert financial crisis through detecting and reporting any anomaly or perceived misrepresentation of the financial truthfulness of organizations has been put to question (Fielding, 2011 p35). Therefore, considering that there are four major auditing…