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The application of statistical and mathematical tool in conducting audit is very important from the point of view of auditor's effectiveness in discharging his duties. Due to paucity of time, it is not possible for the auditor to conduct in depth checking of different transactions in an Organization. Test checking is the only way out and the technique of test checking is basically based on one of the statistical tool, i.e., sampling. Different other mathematical and statistical techniques are adopted in conducting audit in the areas of vouching, verification and routine checking to make the audit procedures effective.
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What is the relationship between algebra and probability?
They are both branches of mathematics.
What is the relationship between art and mathematics?
not sure , maybe cuzins ..
Differences between IS Audit nad Traditional Audit?
Aspect IS Audit (Information Systems Audit) Traditional Audit (Financial/Statutory Audit) Objective To evaluate the security, integrity, and performance of an organization’s IT systems To assess the accuracy and fairness of financial statements Focus Area IT infrastructure, data security, software systems, cyber risk, IT governance Financial records, accounting systems, balance sheet, income statement Primary Standards ISACA standards (e.g., COBIT), ISO 27001, NIST IFRS, GAAP, International Standards on Auditing (ISA) Performed By IT auditors, IS/IT governance professionals (e.g., CISA holders) Chartered Accountants or Certified Public Accountants (CPA) Key Components Access controls, data privacy, disaster recovery, system reliability Revenue, expenses, assets, liabilities, equity, compliance with laws Tools Used Audit software, vulnerability scanners, system logs, cybersecurity tools Financial statements, accounting software, trial balances, ledgers Risk Assessment Focus on IT-related risks (data breach, downtime, hacking, etc.) Focus on financial risks (fraud, misstatement, internal control weaknesses) Output IS Audit Report with findings on system effectiveness and recommendations Auditor’s Report giving opinion on the financial statements Relevance For businesses heavily reliant on IT systems, e.g., banks, fintech, e-commerce Required by law for companies (statutory compliance, tax purposes)
What is the relationship between accounting and mathematics?
accounting is general mathematics which improve your calculations and makes you a expert in mathematicx. So to be perfect in mathematics you have to make your account best than your mathematics.
Differences between audit plan and audit program?
difference between audit program audit & note book
What is the relationship between math physics and chemistry?
Mathematics is used in all the sciences.
What is the relationship between tessellations and Mathematics?
symetry is part of math, based on angles and numbers
What is the relationship between x and y in mathematics?
In mathematics, the relationship between x and y is often represented by an equation or a function. This relationship shows how the value of y changes based on the value of x. It can be linear, quadratic, exponential, or any other type of relationship depending on the specific equation or function being used.
Is addition and subtraction is a part of commercial mathematics?
audit to bank working system
How would you save against disadvantages of continuous Audit Compare between Continuous Audit and Periodical Audit?
How would you save against disadvantages of continuous Audit Compare between Continuous Audit and Periodical Audit?
Difference between audit plan and audit program?
an audit program may contain several audit plans
What is relation between mathematics and geography?
Linear Analysis is a technique used in statistics to determine the constant relationship between two variables.
