Audit and It's Flow

Audit and Its  Flow

Audit and it's flow and audit process

Let's be clear about what is an audit?

Audit and it's flow and audit process. According to the International standards of Auditing and types of audit,

An audit is a process of examination of Entity’s financial statements to give an opinion on it and what is the purpose of auditing.

The main objective of the Audit is to express an opinion on whether the statements.

In attendance exact and pale view or not.

It is the application of audit procedures after risk assessments, so the auditor follows the proper flow of the Audit. A flow of audit is illustrated below.

The main steps are;

1.       1. Proposal to the Auditor for engagement by an  entity 

2.       2. Preliminary engagement Activities by  the auditor

3.       3. Pre-conditions of audit

4.       4. Risk Assessment procedure

5.       5. Substantive procedure

6.       6. Obtain evidence

7.       7. Prepare audit report to express an opinion.