Question

the board of directors of kate's company recently hired an independent firm to review the state of the organization's security controls and certify those results to the board. what term best describes this engagement?

Answer 1

Audit best describes this Engagement

• A physical inventory check is followed by an auditor's review or inspection of various books of accounts to ensure that all departments are using the same documented procedure of documenting transactions. It's done to make sure the organization's financial accounts are accurate.

What does an audit have as its goal?

• The goal of an audit is to make a conclusion regarding the financial statements' fairness and conformance to relevant accounting rules.
• Payrolls, management accounts, bank statements, invoices, and receipts are a few examples of auditing proof..
• Good auditing evidence must be ample, trustworthy, supplied from the right source, and pertinent to the audit at hand.

To Learn more Audit, Click the links.

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