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What Is Client Acceptance
What Is Client Acceptance
Acceptance of the Client means, the person accepted by the Company as a Client, therefore
the person, inter alia, who has submitted to the Company all required information/details required
under the applicable Anti-Money Laundering and Know Your Client legal framework, and it succeeded
in the Appropriateness Test.
Audit planning is a major part of audit works for both internal and external audits. A good
audit planning will help the auditor to minimize its risks, improve audit efficiency, and meet its
objective at the minimum effort. Auditors are required to prepare a proper audit plan to ensure that
all audit risks are identified and correct audit strategies are deployed to detect all concerning risk
areas. It is essential for the auditor to prepare a good strategic audit plan. If the plan is well prepared,
all kind of audit risks is identified and detected. This will help the auditor to minimize the audits risks
of issuing the incorrect opinion to financial statements.
Supervision implies one to one and prompt guidance provided to the employees, along with
instructing, monitoring and controlling them when they carry out any task or job to check if they are
working according to the organization’s plans and policies, in a timely manner. Besides this,
supervision also involves resolving the issues and work-related problems of the employees.