Audit procedure
This query is : Resolved
CA-ASPIRANT
(Querist)
07 May 2009
Please explain Compliance & substantive Procedure of Audit.
07 May 2009
COMPLIANCE : DOCUMENTS ARE VERIFIED BY
SUBSTANTIVE : ACTUAL VERIFICATION ON SITE
SUBSTANTIVE : ACTUAL VERIFICATION ON SITE
Deepak Agrawal
(Expert)
18 May 2009
Compliance procedures are adaped to check whether the comapny has complied with internal control and checks defined by the management.
Substanive procedures are adapted to vouch the transactions on the basis of amount, period, etc
Substanive procedures are adapted to vouch the transactions on the basis of amount, period, etc
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