acc311 past papers midterm solved.
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Fundamentals of audit
Auditing – Introduction
What is an auditor’s report?
The main purpose of the auditor is to enable the auditor to state that “these accounts reflect the true and correct view” or, of the of course, to say that “they do not reflect a true and correct view”. At the end of the audit, when he has reviewed the business, its record, and its financial statements, the auditor produces a report to the owners / stakeholders in which he expresses his opinion of the truth as well justice, and sometimes other aspects, of financial statements. The standard format of the Auditor’s Report in terms of Corporate Orders. ACC311 Past Papers Midterm Solved 1984:FORM 35A
We have considered the written balance of COMPANY NAME as THE DATE and the associated benefits with lost account, cash flow statement and equity exchange statement and constructive notes part of it, last year and say we got all the information again
the explanations needed for our knowledge and faith were needed for the purpose of our audit. ACC311 Past Papers Midterm Solved
It is the responsibility of the company’s management to establish and maintain an internal control system and to prepare and present the above statements in accordance with approved accounting standards and the requirements of the Companies Ordinance, 1984. Our job is to express our opinion about these are statements based on our audit.We have conducted our research in accordance with the standards of audit as applicable in Pakistan. ACC311 Past Papers Midterm Solved
These standards require that we plan and perform audits to obtain reasonable assurance about that. The above statements do not contain any erroneous statements. Audit involves examining, evaluating,evidence supporting the prices and disclosure of the above statements. ACC311 Past Papers Midterm Solved
Audit work includes:Reviewing accounting policies and key estimates made by management, as well as reviewing complete presentation of the above statements. We believe that our literature research provides a sound basis for this our opinion and, after due confirmation, we report that: ACC311 Past Papers Midterm Solved
a) In our opinion, the relevant account books are kept by the company as required by
Companies Ordinance, 1984
b) In our view:
i. The balance sheet and profit and loss account and the notes in it should be the same
designed in accordance with the Companies Ordinance, 1984, and complies with
account books and proceed in accordance with accounting policies applied consistently.
ii. Expenditure during the year is for company business; and
iii. The business made the investment made and the expenses incurred during the year were
in accordance with company material.
ACC311 past papers midterm solved
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