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Audit thinking logic

Writer: Thomas Tsang
Thomas Tsang
Jan 15
1 min read

  1. What are we going to audit - revenue, trade receivables, unquoted equity investments, trade payables, etc

  2. What audit procedures (nature, timing) to be performed to ascertain each of the assertions

  3. What contents inside the evidence to be obtained from the audit procedures and why it can ascertain the assertions in accordance with FRS and SSA

  4. What sampling to be applied (extent) and why applying such sampling methodology and in accordance with SSA

  5. Evaluate the evidences obtained are sufficient (extent) and appropriate (relevant and reliable) to draw a conclusion

  6. All above thinking processes shall be documented in audit working papers


 
 
 

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