Direct Tax
Consulting
ESG Advisory
Indirect Tax
Growth Advisory
Internal Audit
BFSI Audit
Industry Audit
Valuation
RBI Services
SEBI Services
IRDA Registration
AML Advisory
IBC Services
Recovery of Shares
NBFC Compliance
IRDA Compliance
Finance & Accounts
Payroll Compliance Services
HR Outsourcing
LPO
Fractional CFO
General Legal
Corporate Law
Debt Recovery
Select Your Location
According to Accounting Standards 200 (SA 200), basic principles of auditing or the basic principles governing an audit describe the basic principles which govern the auditor’s professional responsibilities which must be duly followed by an auditor while carrying out an audit. This piece of information is an overview of the basic principles which govern the auditing responsibilities undertaken by an auditor. According to SA 200 the basic principles which govern an audit are:
According to SA 200, following are the basic principles of auditing:
Another important principle to be kept in mind is the independence of the auditor. An auditor should not have any interest in the organisation being audited as it will hamper in the auditor being independent and impartial during the audit cycle. There should not be any existence of conflict of interests.
After completing the audit, the auditor gives his opinion through an audit report. A clean audit indicates that the auditor does not find financial irregularities in the accounts. The auditor believes that the books represent a true and fair reflection of financial status of an organisation. However, the auditor may provide an adverse or qualified report with a disclaimer if he finds financial irregularities and frauds in the financial accounts.
Read Our Article: Why a Business Plan is Considered as a First Step of Business?
Social Stock Exchange (SSE) is a platform where social welfare organizations and social enterpr...
Foreign investors today hold over Rs 80 Lakh crore assets in the Indian markets. However, in re...
A Non-Banking Financial Company (NBFC) is a financial organization registered under the Compani...
Payment aggregators are playing a crucial role in India's digital economy. From small shops to...
India today has set an ambitious goal to become a $5 trillion economy by 2027-28. Although a st...
Are you human?: 2 + 1 =
Easy Payment Options Available No Spam. No Sharing. 100% Confidentiality
Automotive industry audit checklist as the process audits is made simpler and generates better actionable informati...
03 May, 2024
The course of review in the field of the existence of life science and biomedical audit assumes a fundamental part,...
30 Mar, 2024