What does Accountability mean?
Test Yourself on these notes:
What does Stewardship mean?
What does Agency mean?
5 Elements of Assurance engagements are:
Types of assurance engagement are:
2 types of External Audits:
External Audits - 2 types
1) Statutory - This is when entities are required by law to have an audit
2) Non - Statutory - This is when there is no legal requirement.
Types of Review engagements:
Review engagements - The auditor reviews the FS using less evidence than in an audit
Risk assessment reports
Review of internal controls
Value for money reviews
Social and environmental reports