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How is Accountancy necessary but auditing is luxury?
It is necessary for company to maintain books of accounts and that's why accountancy is a must activity but it is not mandary to conduct audit of financial statement for private companies and only necessary for public companies.
How to do audit of insurance company?
What kind of audit are you talking about. Audit's are done all the time on insurance companies. The Department of Insurance audits insurance companies to make sure they have paid claims that they should and not pay claims that they shouldn't. Auditing and accounting firms audit the finances of insurance companies as most of them are publicly traded companies so the SEC also has to approve of their finances. Insurance companies are audited every year and all the time.
Provisions of the company act in audit?
The provision of the company act in audit requires that all the companies be audited after a given duration of time.
Why do some companies require an information security audit?
Companies require an information security audit to ensure the security is adequate. Also, the audit allows the company to decide if money is being spent properly on security.
What are the functions of an audit department?
to audit the books of a company and the companies employees who do the books, usually accounting related
When there is a statutory audit introduction of internal audit is not necessary at all?
false
When there is a Statutory Audit introduction of Internal Audit is not necessary at all.?
false
How is Accountancy necessary but auditing is luxury?
It is necessary for company to maintain books of accounts and that's why accountancy is a must activity but it is not mandary to conduct audit of financial statement for private companies and only necessary for public companies.
How to do audit of insurance company?
What kind of audit are you talking about. Audit's are done all the time on insurance companies. The Department of Insurance audits insurance companies to make sure they have paid claims that they should and not pay claims that they shouldn't. Auditing and accounting firms audit the finances of insurance companies as most of them are publicly traded companies so the SEC also has to approve of their finances. Insurance companies are audited every year and all the time.
What is statutory audit What is the exact meaning of statutory audit?
A statutory audit is necessary by law for auditing all company’s financial health and records. In the UAE Audit firms in Dubai provide a statutory audit for all companies in UAE to check financial health by reviewing its accounts & accounting activities. Government organizations in the UAE must have their accounts reviewed by statutory auditors. A company’s shareholders can select any qualified statutory audit firm in UAE at the annual general meeting. For more info refer : What is Statutory Audit | How To Do Statutory Audit of A Company In Dubai
Provisions of the company act in audit?
The provision of the company act in audit requires that all the companies be audited after a given duration of time.
Which companies are exempt from audit in Pakistan?
No institution exempted from audit
Audit risk assessment and audit plan?
An audit is considered a risk assessment, therefore these terms are interchangeable. And audit plan can have various meanings, some consider this to be an annual audit plan which includes all the audits that will occur within a companies calendar year. Others consider this to be the plan for undertaking a specific audit. Its all in how you define the words, audit plan, audit schedule, audit check list.
Who needs an audit?
Auditing is necessary for any person who is a position of managing finance and companies. This is to help to ensure that there is good use and management of available funds.
Why do some companies require an information security audit?
Companies require an information security audit to ensure the security is adequate. Also, the audit allows the company to decide if money is being spent properly on security.
What are the functions of an audit department?
to audit the books of a company and the companies employees who do the books, usually accounting related
What are the functions of Audit department?
to audit the books of a company and the companies employees who do the books, usually accounting related
