Performing the audit refers to the means of collecting evidence.
Knowing the client and its business, making risk and materiality assessments, and finalizing an audit strategy.
- To help keep audit costs reasonable
- To avoid misunderstandings with the client
- To identify areas of risk of material misstatements
In terms of continuing clients, the audit report from the previous year should not influence the approach for the new year. The auditor must consider if there are any new issues that he should be careful about.
Audit Execution is important because auditors should execute and perform the audit to reduce audit risk to an acceptably low level that is consistent with the objective of the process.
Audit Report Submission
This is the final report of submission of the audit report.
- Detailed Discussion about audit
- All checked areas and report warnings
- Reported details and details