Management and Organizational Studies 3363A/B Final: MOS 3363 - Intro to Audit - Complete Study Guide - Cumulative 20 Chapters

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 3363A/B
• Professor: Michelle Loveland

Document Summary

Nautre & relevance of auditing: auditing: the accumulation & evaluation of evidence about info to determine & report on the degree of correspondence b/w the info & established criteria. Info & established criteria: must be info in a verifiable form & some standards by which the auditor can evaluate, canada revenue agency auditor: works for the cra & conducts examinations of the info taxpayers" returns. Competent, independent person: auditor must be qualified to understand the engagement risks & criteria used, independent auditor: a pa or accounting firm that performs audits of commercial. & non-commercial entities: absolute independence is impossible, internal auditors: employed by a company to audit for the company"s bod & mgmt, usually report directly to the audit committee. Reporting: independent auditor"s report: the communication of audit findings to users. Internal responsible to management: both must be competent, remain objective and follow a similar methodology.