[BU477] - Final Exam Guide - Comprehensive Notes for the exam (126 pages long!)
Document Summary
The demand for audit and other assurance services. Bu477 chapter 1: the accumulation and evaluation of evidence about information to determine and report on the degree of correspondence between the information and established criteria. To do an audit there must be information in a verifiable form and some standards (criteria) by which the auditor can evaluate the information. Evidence is defined as any information used by the auditor to assess whether the information being audited is stated in accordance with the established criteria. Audit strategy: a planned approach to the conduct of audit testing based upon assessed risks. Professional judgement: analytical, systematic and objective judgement carried out with integrity and recognition of responsibility to those affected by its consequences. Integrity: the quality of being honest and courageous. Professional skepticism: an attitude that includes a questioning mind, a critical assessment of audit evidence and the willingness to challenge the auditee"s assertions. Independence in mind: the auditor"s ability to exercise objectivity.
