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how could a auditor complete his audit

10 May 2007

how could a auditor complete his audit in timely and efficient manner? is this based on clients business knowledge or what?

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3 Replies

theone (55 Points)
Replied 10 May 2007

The One says:

My friend Rahul The One has classified the criteria for [b]timely[/b] completion of Audit work into the following aspects:

1. Audit Planning;
2. Familiarity/Knowledge with/of the Client's Business;
3. Availability of Required Information
(Delays may be caused by the client directly or by third parties such as delay in information sought by direct confirmation)

Further all the above are related to a large extent to the [b]Auditor's Experience[/b] and Communication Skills.

Hope this is useful. The One is not averse to answering futher queries.