What is External Auditing?

External audit refers to a review of financial statement by an independent auditor. In other words, it’s an inspection/examination of the numbers & facts stated … Read more

Types of Auditors

An investigation, inquiry, or validation of accounting standards may all be carried out in the form of an audit. An auditor may be asked to … Read more

audit vs assurance

Audit VS. Assurance

An audit is a process of checking accounting and other information given in the financial statement. For instance, the closing balance of property, plant and … Read more


Qualities of a good auditor

Broadly, there are three qualities of a good auditor, these include knowledge on financial principles & audit processes, certain personality characteristics, and experience in the … Read more

Scope of an audit

Scope of an audit

The scope of an audit means extent of work the auditor needs to perform. If the scope of an audit is extensive, the auditor needs … Read more

Types of audit risk

There are three types of audit risk. These types of audit risk include inherent risk, control risk, and detection risk. 1-Inherent risk The nature of … Read more

Tracing vs vouching

Vouching vs tracing

Vouching and tracing play a number of similar roles in auditing, but the key difference is the use of these auditing procedures to collect audit … Read more


What is an audit program?

Definition The audit program is a detailed action plan for the audit team. It sets a direction for an audit team to perform audit procedures. … Read more

Qualities of audit evidence

Auditors collect audit evidence during fieldwork. If audit evidence is sufficient and appropriate, they issue a clean audit report. Sufficiency of audit evidence refers to … Read more

Audit report modification/changes

Audit report modification is when auditors need to change/modify their audit opinion. The audit report can only be changed/modified in line with the accounting standard. … Read more