Auditing Procedures And Reports Used By Auditors Essay

The audit process is a vital role to the successfulness of a company or its downfall. By having a company’s financial records frequently evaluated; hidden issues that could take years to surface could be found in a timely manner. The intention of this paper is to show a brief summary of auditing procedures and reports used. There is also a comparison and contrast of audit procedures and reporting that is used by auditors. This paper also compares the Explanatory Report to the Standard Report. An audit can be very complex in its process of checks that ensure information is correct as recognized. Auditing looks like a numbers-based analysis and it is imperative to be able to audit the procedures of the past to recommend future improvements for success. Audit Reports There are a number of auditor reports that exist. These include unqualified, explanatory, qualified, disclaimer, and adverse. 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