To scrutinize that work done was properly or not according to prescribed rules and regulations.
To avoid discrepancies while doing work.
Intangible assets are those which we can't be seen like goodwill of the company.
Tangible Assets are those assets which we can see or touch like fixed asset ,machinery,etc.
Vouching is the process of checking for the existence an example for this is checking from the final record to the supporting document.
One auditing firm can audit other auditing firm.
Decommission Liability is costs that a company expects to incur in the future when the plant is shut down.
Contact the board of directors or the audit committee. They should ensure the independence of internal auditing.
CARO means company audit report order 2004.It describes the matter on witch Statutory Auditors has to report in their Audit Report.
social audit is performed to know the corporate social responsibility.
Final audit is commenced when all account has been closed and final accounts is been prepared.