Category: Auditing
Definition of Expectation gap Definition: The term Expectation gap refers to the fact that the public perception of the role and responsibilities of the external auditor is different from his …
Sufficient Appropriate Audit Evidence Sufficiency is the measure of the quantity of audit evidence. The quantity of audit evidence needed is affected by the auditor’s assessment of the risks of …
Audit Evidence The outcome of an audit is a report, usually expressing an opinion.That report and opinion must be supportable by the auditor, if challenged.Therefore, the auditor will collect evidence …
Professional Judgment: It means making informed decisions by a professional accountant about the courses of actions that are appropriate in the circumstances during an audit engagement, in the context of …
What is Advocacy Threat? Advocacy threat Definition: Advocacy threat occur when members promote a position or opinion on behalf of a client to the point that subsequent objectivity may be compromised. …