Auditing

Measure of performance

Audit principles

Acts to be performed

Audit judgments

a flowchart of the internal controls

Organization charts

a copy of financial statements

copies of bond and debentures

To report on financial statements

To check accounting system and internal control are operating efficiently

To determine the accuracy of financial statement values and disclosures

To establish a control system in the company

The auditor should express an opinion on financial statements.

His opinion is no guarantee to future viability of business

He is responsible for detection and prevention of frauds and errors in financial statements

He should examine whether recognized accounting principle have been consistently