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Lecture 1 - Intro to Audit
Course: Audit and Control System (ACS1)
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Auditing
Auditing is a systematic process of evaluating and assessing the financial statements of the
clients to ensure they compliant with the established criteria and present the audit reports to
the shareholders and investors by showing the evidence collected.
Types of Auditors
External auditors – Auditors that work as a member of public accounting firms and do not
have any relationship with the client.
Internal auditors – Auditors that work in the company and is responsible with the checking
of the economic events within the company.
Government auditors – Auditors that work with the government and will sometimes be sent
to a company for checking on a its particular area of operation records.
Forensic auditors – External auditor and internal auditor that are trained in detecting,
investigating and deterring fraud. They are normally being required to execute deeper
investigation on a several fraud revealed by the ordinary auditor.
Information system/ Technology auditors - Auditors that are working in the area of IT.
Compliance with standard
Code of Ethics
Independent
