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The Process Of audit

In this slide, you will gain knowledge of Audit means, what is an audit, how to do it, what are the process etc.<br>Visit https://www.singaporeaccountingservice.com/services/audit-and-assurance/ for more deatils.

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The Process Of audit

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  1. THE 5 AUDIT PROCESS inspection or examination

  2. What are those 5 processes of Auditing? • Selection • Planning • Execution • Reporting • Follow-Up

  3. Selection Phase • This is the initial stage of Audit process to develop the audit plan for the subsequent year. • Auditor review the audit plan before it is executed.

  4. Planning Phase • Planning is the next step after section. During this phase Auditor identify risks and determine the objectives and scope of the audit as well as the timing of fieldwork and the report distribution.

  5. Execution Phase In this Execution Phase, We discuss about • audit observations • potential findings • Recommendations

  6. Reporting Phase • After completion of 4th stage, The auditor submit report to check error and submit an action plan and time frame.

  7. Follow-Up • Internal Audit follows up on all audit findings within one year of when the report was issued.

  8. How we do Your Audit? • Requesting Documents. • Preparing an Audit Plan. • Scheduling an Open Meeting. • Conducting Fieldwork. • Drafting a Report. • Setting Up a Closing Meeting.

  9. Get in touch with us • For more information on Singapore audit, You can visit at our website mentioned below to check out our Services and much more. Website: https://www.singaporeaccountingservice.com/services/audit-and-assurance/ Telephone: +65 97290371

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