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    Note 3

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    Naresh Budhaair
    The document outlines the principles of public sector auditing. It discusses general principles like professional competence, due care, skepticism, quality control, independence and ethics. It also covers the audit process, including planning the audit, conducting procedures to obtain sufficient evidence, evaluating evidence and drawing conclusions, and reporting with recommendations. The reporting can be in a long-form describing the audit in detail or a short condensed standardized format.

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    Note 3

    Uploaded by

    Naresh Budhaair
    5 views1 page
    The document outlines the principles of public sector auditing. It discusses general principles like professional competence, due care, skepticism, quality control, independence and ethics. It also covers the audit process, including planning the audit, conducting procedures to obtain sufficient evidence, evaluating evidence and drawing conclusions, and reporting with recommendations. The reporting can be in a long-form describing the audit in detail or a short condensed standardized format.

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    The document outlines the principles of public sector auditing. It discusses general principles like professional competence, due care, skepticism, quality control, independence and ethics. It also covers the audit process, including planning the audit, conducting procedures to obtain sufficient evidence, evaluating evidence and drawing conclusions, and reporting with recommendations. The reporting can be in a long-form describing the audit in detail or a short condensed standardized format.

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    © All Rights Reserved
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    Flag for inappropriate content
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    5 views1 page

    Note 3

    Uploaded by

    Naresh Budhaair
    The document outlines the principles of public sector auditing. It discusses general principles like professional competence, due care, skepticism, quality control, independence and ethics. It also covers the audit process, including planning the audit, conducting procedures to obtain sufficient evidence, evaluating evidence and drawing conclusions, and reporting with recommendations. The reporting can be in a long-form describing the audit in detail or a short condensed standardized format.

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    © All Rights Reserved
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    of 1

    PRINCIPLES OF PUBLIC SECTOR AUDITING

    Engagement team
    management & skill

    Professional
    cmpetence, due Materiality
    care & skepticism

    Quality 1. GENERAL
    Audit risk
    control PRINCIPLES

    Independence Documentation
    & ethics

    Communication

    2. PRINCIPLE RELATED TO AUDIT PROCESS

    Reporting:
     Prepare report based on conclusion
    Planning of audit: Conducting Audit: reached
     Establish TOE  Perform audit  Report should be complete,
     Understanding of procedure to obtain understandable & free from
    entity SAAE vagueness
     Risk assessment  Evaluate audit  Fulfill requirement of law &
     Develop an audit evidence & draw regulation related to layout or
    plan with NTE conclusion wording of report which may be:
     Long-form report*
     Short form report: (condensed
    & standardized format)

    ** Long-form report generally describe in detail the audit scope, audit findings and conclusion
    including consequences & recommendation.

    By NBB

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