Fraud audits involve 100% examinations while financial statement audits require samples. Why do you think this is?
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The response address the queries posted in 427 words with references.
// Audit is the analysis and examining of the financial records of an Organization. It is important to exercise audit to find out the accuracy and relevancy of the statements being presented. This paper clarifies the concept of Financial Audit and symbolizes its importance.//
Introduction of Financial Audit
Audit refers to the examination and investigation by the third party and the government and finds out whether the transactions and statements are accurate, relevant, fair presentation and does not mislead. Audit of Financial statement gives a clear picture of company's management and is highly useful to the stakeholders ...
The response address the financial statement audit queries posted in 427 words with references.