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Posts Categorized as 'The Audit Process'

Friday, July 20th, 2007

Going Concern Qualification

In the event that an auditor has to review and diagnose the going concern difficulties of his/her clients, he/she should at the very least:

compare the client’s cash flow forecasts with the overdraft or other loan facilities available for up to twelve months from the accounting date
obtain written confirmation from the board of the holding company […]

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Monday, February 12th, 2007

Minimum Terms Of Reference For An Audit Committee

The following are some recommendation extracted from CIMA’s guideline: A Framework for Internal Control which might be useful to those who wish to familiarize with the minimum role of the Audit Committee:

to confirm and ensure the independence and objectivity of external auditors and review with management any areas of disagreement between management and the external […]

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Filed under Auditing Topics, The Audit Process