Page 19 - Auditinf Electronic System

financial limited scope prohibiting
statement in audit the auditor
ability to
procedures perform the

audit
procedures
needed to
perform an

audit

The The Financial Except for " a The Financial The auditor
interpretation statements particular statements doesn’t
matter" The aren’t fairly express
fairly presented Financial
in all material statement presented in all opinion on
fairly material the financial
aspects presented aspects
position.

2) Documenting of audit process:

Also, the auditor has to document the whole auditing process starting from
planning and accepting the client through the engagement letter, the procedures
taken, the audit evidences gathered till his final conclusion and issuing the audit
report

N.B

Absolute Assurance reasonable assurance Limited Assurance

Auditor 100 % sure of Auditor is 55-95 % sure Auditor is 20-30 % sure

his opinion of his opinion of his opinion

If he audits 100% if the If he audits enough If he audits little amount

transactions and accounts amount if the of transaction and
balances
of financial statements. transactions and accounts

of financial statements

In Continuous Audit In Traditional external In limited review audit
audit

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‫جميع الحقوق محفوظة ـ الإعتداء على حق المؤلف بالنسخ أو الطباعة يعرض فاعله للمسائلة القانونية‬