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Bhanur
aj
i
mher
e@gmai
l
.
com;
cel
l
: 9133032358

Mahendr
akar
t
ar
un15@gmai
l
.
com;
cel
l
:
8019839923.

1

Bhanur
aj
i
mher
e@gmai
l
.
com;
cel
l
: 9133032358

PREFACE
ItGi
v
e
smei
mme
n
s
ep
l
e
a
s
u
r
ei
np
r
e
s
e
n
t
i
n
gb
e
f
o
r
et
h
es
t
u
d
e
n
t
so
fCA
IPCCt
h
ef
i
r
s
te
d
i
t
i
o
no
ft
h
eb
o
o
ko
ns
t
a
n
d
a
r
d
so
nAu
d
i
t
i
n
g
.
Au
d
i
t
i
n
gi
so
n
eo
ft
h
emo
s
td
y
n
a
mi
cs
u
b
j
e
c
t
si
nt
h
ec
ac
u
r
r
i
c
u
l
u
m.t
h
e
mi
n
i
s
t
r
yo
fc
o
mp
a
n
ya
f
f
a
i
r
sh
a
sr
e
p
l
a
c
e
dt
h
eo
l
dCo
mp
a
n
i
e
sAc
t1
956
wi
t
hn
e
wCo
mp
a
n
i
e
sAc
t201
3.Th
eIn
s
t
i
t
u
t
eo
fCh
a
r
t
e
r
e
d
Ac
c
o
u
n
t
a
n
t
so
fIn
d
i
ah
a
sr
e
v
i
s
e
dmo
s
to
ft
h
es
t
a
n
d
a
r
d
so
nAu
d
i
t
i
n
g
.
Th
es
t
u
d
e
n
t
so
fCh
a
r
t
e
r
e
dAc
c
o
u
n
t
a
n
c
ya
r
ee
x
p
e
c
t
e
dt
oh
a
v
ea
ne
x
p
e
r
t
k
n
o
wl
e
d
g
eo
ft
h
e
s
eSA'
s
.
Th
ep
r
e
s
e
n
tb
o
o
k
sh
a
sb
e
e
nwr
i
t
t
e
nk
e
e
p
i
n
gi
nv
i
e
wt
h
er
e
q
u
i
r
e
me
n
t
so
f
CAIPCCe
x
a
mi
n
a
t
i
o
no
fTh
eIn
s
t
i
t
u
t
eo
fCh
a
r
t
e
r
e
da
c
c
o
u
n
t
a
n
to
f
In
d
i
a
.
Th
ef
e
a
t
u
r
e
so
ft
h
i
sb
o
o
kh
a
sf
o
l
l
o
w:
St
u
d
e
n
tf
r
i
e
n
d
l
y
.
c
o
n
c
e
p
t
u
a
lu
n
d
e
r
s
t
a
n
d
i
n
go
ft
h
es
t
a
n
d
a
r
d
s
.
v
e
r
ys
i
mp
l
el
a
n
g
u
a
g
et
ou
n
d
e
r
s
t
a
n
d
.
d
i
a
g
r
a
mma
t
i
cp
r
e
s
e
n
t
a
t
i
o
na
tt
h
er
e
q
u
i
r
e
dp
l
a
c
e
sg
i
v
e
st
h
eg
r
i
p
o
nt
h
eSA'
s
.

Mahendr
akar
t
ar
un15@gmai
l
.
com;
cel
l
:
8019839923.

2

Bhanur
aj
i
mher
e@gmai
l
.
com;
cel
l
: 9133032358

Au
t
ho
r
'
so
p
i
ni
o
n
Th
i
sb
o
o
ki
sp
r
e
p
a
r
e
do
nt
h
ep
r
i
n
c
i
p
l
eo
f“
s
h
o
r
ta
n
d
s
i
mp
l
e

.Th
i
sb
o
o
ka
c
t
sa
saq
u
i
c
kr
e
v
i
s
i
o
nf
o
rs
t
a
n
d
a
r
d
s
o
na
u
d
i
t
i
n
ga
tIPCCl
e
v
e
l
.
Th
i
si
smo
s
t
l
yu
s
e
f
u
lo
nt
h
ed
a
y
b
e
f
o
r
ey
o
u
rf
i
n
a
le
x
a
mi
n
a
t
i
o
n
.
Al
lt
h
eb
e
s
tf
o
ry
o
u
rp
r
e
p
a
r
a
t
i
o
n
.
~
Bh
a
n
u
r
a
j
Sa
k
i
l
a
m.
Soma
n
ys
t
a
n
d
a
r
d
s
,
s
ol
i
t
t
l
et
i
me
Toc
o
v
e
re
n
t
i
r
es
t
a
n
d
a
r
d
so
na
u
d
i
t
i
n
g
,
i
tt
a
k
e
sl
o
to
ft
i
me
.
Th
i
sma
t
e
r
i
a
lwi
l
lh
e
l
py
o
ut
or
e
d
u
c
et
i
me,
e
f
f
o
r
t
sa
n
dt
o
s
c
o
r
eg
o
o
dma
r
k
s
.
-Ta
r
u
nma
h
e
n
d
r
a
k
a
r
Sp
e
c
i
a
lt
h
a
n
k
st
o
:
CA.Ka
r
a
nma
n
s
u
k
h
a
n
i
B.Pr
e
ms
a
g
a
r
Pa
b
b
a
.
s
a
n
d
e
e
p
P.
Sa
ik
r
i
s
h
n
ak
u
ma
r
G.
p
r
a
v
e
e
nr
e
d
d
y
Mahendr
akar
t
ar
un15@gmai
l
.
com;
cel
l
:
8019839923.

3

Bhanur
aj
i
mher
e@gmai
l
.
com;
cel
l
: 9133032358

SA200:Ov
er
al
lobj
ect
i
v
esofani
ndependentaudi
t&
conductofaudi
ti
naccor
dancewi
t
hSAs
Theobj
ect
i
v
esofanaudi
tar
et
wof
ol
ded:
1. Pr
i
mar
yobj
ect
i
v
e
2. Secondar
yobj
ect
i
v
e
1.
pr
i
mar
yobj
ect
i
v
e:Thepr
i
mar
yobj
ect
i
v
eofanaudi
t
ori
st
oex
pr
essani
ndependentopi
ni
onon
t
r
ue&f
ai
rv
i
ewshownbyf
i
nanci
al
st
at
ement
s
2.
secondar
yobj
ect
i
v
e:Wher
east
hesecondar
yobj
ect
i
v
eoft
heaudi
t
ori
st
opr
ev
entanddet
ectof
f
r
audsander
r
or
s.

Theaudi
t
ori
sr
equi
r
edt
omai
nt
ai
nf
ol
l
owi
ngr
equi
r
ement
s:






Codeofet
hi
csi
ssuedbyI
CAI
Tomai
nt
ai
npr
of
essi
onal
skept
i
ci
sm.
Toappl
yhi
spr
of
essi
onal
j
udgement
Toobt
ai
nsuf
f
i
ci
entandappr
opr
i
at
eaudi
tev
i
dence
Toconductanaudi
ti
naccor
dancewi
t
hst
andar
dsonaudi
t
i
ng

SA:210Agr
eei
ngt
het
er
msofAudi
tengagement:
1.
I
ti
sanagr
eementormemor
andum ofunder
st
andi
ngent
er
edbet
weent
heaudi
t
orandcl
i
entpr
i
or
t
ot
hecommencementofaudi
tt
oav
oi
danymi
sunder
st
andi
ngsdur
i
ngt
hecour
seofanaudi
t
.
2.
I
tr
ef
l
ect
st
hescopeoft
heaudi
tandt
heaspect
swhi
chwi
l
l
bet
akeni
nt
oconsi
der
at
i
oni
nt
heaudi
t
.
3.Thef
ol
l
owi
ngar
esomei
mpor
t
antcl
auseswhi
char
et
obei
ncl
udedi
nt
hel
et
t
erofengagement:
● I
ti
st
her
esponsi
bi
l
i
t
yoft
hemanagementt
opr
epar
ef
i
nanci
al
st
at
ement
s.
● I
ti
st
her
esponsi
bi
l
i
t
yoft
hemanagementt
odev
i
sei
nt
er
nalcont
r
ol
swhi
chcommensur
at
e
wi
t
ht
hesi
zeandnat
ur
eoft
hebusi
ness.
● I
ti
st
heaudi
t
or
'
sr
esponsi
bi
l
i
t
yt
ov
er
i
f
yt
headequacyoff
i
nanci
alst
at
ement
sandi
nt
er
nal
cont
r
ol
.
● Theaudi
t
orhast
oappl
yhi
spr
of
essi
onalj
udgementi
nanaudi
twhi
chwi
l
lbeconduct
edona
t
estcheckbasi
sduet
owhi
cht
heaudi
t
orwi
l
l
notbeabl
et
odet
ectal
l
t
hef
r
audsander
r
or
s.
● Feesandbi
l
l
i
ngar
r
angement
s.
● Useofwor
ksofi
nt
er
nal
audi
t
or,
anot
heraudi
t
orandanexper
t
.
4.I
ncaseofr
epet
i
t
i
v
eandr
ecur
r
i
ngengagement
s,
t
hel
et
t
erwi
l
l
begi
v
enonl
ywhen
● Si
gni
f
i
cantchangesi
nt
heSeni
ormanagement
.
● Changei
nowner
shi
p.
● Changei
nl
egal
andr
egul
at
or
yf
r
amewor
k.
● Rev
i
si
onoft
er
msofengagement
.
● I
ncaseofmi
sunder
st
andi
ngbyt
hemanagement
.
● Changei
nt
henat
ur
eandsi
zeoft
hebusi
ness.
Not
e:
TheCompanymayaskorr
equi
r
et
heaudi
t
ort
omakemodi
f
i
cat
i
onst
ot
heengagementt
owhi
chan
audi
t
orcanaccepti
torwi
t
hdr
awf
r
om i
t
,
whi
chr
esul
t
si
nt
oacasual
v
acancyi
ncaseofawi
t
hdr
awal
.

SA220.
:Qual
i
t
yCont
r
olf
ort
heAudi
toff
i
nanci
alst
at
ement
s
1.Thi
sst
andar
ddeal
swi
t
ht
heaudi
t
or
'
sr
esponsi
bi
l
i
t
yr
egar
di
ngqual
i
t
ycont
r
olpr
ocedur
ef
oraudi
t
off
i
nanci
al
st
at
ement
s.
Mahendr
akar
t
ar
un15@gmai
l
.
com;
cel
l
:
8019839923.

4

Bhanur
aj
i
mher
e@gmai
l
.
com;
cel
l
: 9133032358
2.Theobj
ect
i
v
esofqual
i
t
ycont
r
olpol
i
ci
est
obeadopt
edwi
l
li
ncor
por
at
epr
of
essi
onalr
equi
r
ement
s
,
Ski
l
l
s&compet
ence,
del
egat
i
on,
accept
ance&Ret
ent
i
onofcl
i
ent
sandmoni
t
or
i
ng.
3.Tocommuni
cat
et
oi
t
sper
sonneli
namannert
hatpr
ov
i
desr
easonabl
eassur
ancet
hatqual
i
t
y
cont
r
ol
pol
i
ci
es&pr
ocedur
esar
eunder
st
ood&i
mpl
ement
ed.
4.Toi
mpl
ementsuchpol
i
ci
esandpr
ocedur
est
hatar
ei
ncont
ex
twi
t
hpol
i
ci
es&pr
ocedur
eswhi
ch
ar
eappr
opr
i
at
ef
orani
ndi
v
i
dual
audi
tf
i
r
m.
5.Toanal
y
set
heper
f
or
manceoft
heassi
st
antwhenpr
ov
i
di
ngt
hedi
r
ect
i
on,
super
v
i
si
on&r
ev
i
ewof
t
hewor
kper
f
or
med.
6.Eachassi
st
antt
owhom t
hewor
ki
sdel
egat
edr
equi
r
espr
operdi
r
ect
i
on,super
v
i
si
onandr
ev
i
ew
ont
hewor
kper
f
or
med.
I
nbr
i
eft
hi
sSAr
equi
r
es.
● Ri
ghtper
sont
obeappoi
nt
edf
orr
i
ghtJob.
● Engagementpar
t
nerandEngagementQual
i
t
ycont
r
olr
ev
i
ewert
oseet
hatpr
operpol
i
ci
esar
e
f
ol
l
owed.
● Tocont
i
nuet
heaudi
twhent
hecl
i
enti
sput
t
i
ngunusalpr
essur
et
ocompl
et
et
heaudi
tor
r
educi
ngf
eesori
ndul
gi
ngi
nanyi
l
l
egal
act
i
v
i
t
y
.
● pr
opert
r
ai
ni
ngt
obegi
v
en.
● Leader
shi
pResponsi
bi
l
i
t
y
.
● Et
hi
cal
r
equi
r
ement
s.

SA:230Audi
tdocument
at
i
on
1.
Audi
tdocument
at
i
onr
ef
er
st
ot
hewor
ki
ngpaper
spr
epar
edbyt
heaudi
t
ordur
i
ngt
hecour
seofan
audi
tt
oshowt
hataudi
twasconduct
edi
naccor
dancewi
t
hSAs.
2.Thewor
ki
ngpaper
si
ncl
ude
● Thepr
ocedur
esappl
i
ed.
● Theev
i
denceobt
ai
ned.
● Ther
esponseoft
hemanagement
.
● Theconcl
usi
onsdr
awn.
3.Theymaybei
nManual
orel
ect
r
oni
cf
or
m.Theuseofwor
ki
ngpaper
sar
e:
1. Topr
epar
eanaudi
tpl
anbasedonpr
ev
i
ousy
ear
swor
ki
ngpaper
s.
2. I
tacthasanev
i
dencet
hataudi
t
orwasnotnegl
i
gent.
3. Todr
awconcl
usi
on
4. Tosuper
v
i
seaudi
tassi
st
ant
s.
4.
Anaudi
t
orshoul
dpr
epar
ewor
ki
ngpaper
si
nsuchamannert
hatshoul
denabl
eanexper
i
enced
audi
t
orwhohasnoconnect
i
onwi
t
haudi
tt
ounder
st
andt
he
1. Nat
ur
e,
t
i
mi
ngandext
entoft
heaudi
tpr
ocedur
e.
2. Resul
t
sofsuchpr
ocedur
es.
3. Si
gni
f
i
cantmat
t
er
sar
i
si
ngdur
i
ngt
heaudi
t
,
concl
usi
onsr
eachedet
c
5.Audi
t
ori
st
heowneroft
hewor
ki
ngpaper
s.Hehast
or
et
ai
ni
tf
oraper
i
odof7y
ear
s.
6.
Theaudi
t
ormayathi
sdi
scr
et
i
onmakepor
t
i
onsorext
r
act
soft
heaudi
twor
ki
ngpaper
st
ot
he
cl
i
ent
.
7.Hewi
l
l
gi
v
eaccesst
ohi
swor
ki
ngpaper
st
ot
het
hi
r
dpar
t
yonl
ywheni
ti
sr
equi
r
edbyl
aw.
8.Anaudi
tf
i
l
ei
sr
equi
r
edt
opr
epar
edwi
t
hi
n60day
sofaudi
tr
epor
t
.Anaudi
tf
i
l
emaybet
empor
ar
y
orper
manent
.

Mahendr
akar
t
ar
un15@gmai
l
.
com;
cel
l
:
8019839923.

5

Bhanur
aj
i
mher
e@gmai
l
.
com;
cel
l
: 9133032358

SA240:
-Theaudi
t
or
'
sr
esponsi
bi
l
i
t
i
esr
el
at
i
ngt
of
r
audi
nan
audi
toff
i
nanci
alst
at
ement
s.
1.
Fr
audi
sani
nt
ent
i
onalmi
sst
at
ementofi
nf
or
mat
i
onbyempl
oy
ee,
managementandTCWGort
hi
r
d
par
t
yi
nor
dert
ot
akeadv
ant
ageoft
hesi
t
uat
i
on.
2.Thepr
i
mar
yr
esponsi
bi
l
i
t
yofpr
ev
ent
i
onanddet
ect
i
onoff
r
audi
st
hatoft
hemanagementand
TCWG.
3.
Theaudi
t
orshal
lev
al
uat
et
hei
nf
or
mat
i
onobt
ai
nedf
r
om ot
herr
i
skassessmentpr
ocedur
esand
r
el
at
edact
i
v
i
t
i
esper
f
or
medt
ocheckoneormor
ef
r
audr
i
skf
act
orar
epr
esent.
4.
Whenev
ert
her
ei
saf
r
audorpossi
bi
l
i
t
yoff
r
audaudi
t
or
sshoul
dmai
nt
ai
nat
t
i
t
udeofpr
of
essi
onal
skept
i
ci
sm.
5.
I
ff
r
audr
i
skf
act
or
sar
epr
esentt
hent
heaudi
t
orwi
l
lappl
ypr
ocedur
est
ocheckt
her
i
skofmat
er
i
al
mi
sst
at
ementduet
of
r
audsandaudi
t
orwi
l
ldeput
eaper
sont
oconducti
ndept
hv
er
i
f
i
cat
i
onand
appl
y
i
ngunpr
edi
ct
abl
eaudi
tpr
ocedur
es.
6.Af
t
erconf
i
r
mi
ngaboutt
heex
i
st
enceoff
r
audheshoul
d escal
at
ei
tt
ot
hemanagementandgeti
t
r
ect
i
f
i
edanddi
scl
osedi
nt
heaudi
tr
epor
t
.
7.I
fi
ti
snotr
ect
i
f
i
edgi
v
eamodi
f
i
edr
epor
t
.
8.Somel
awsr
equi
r
esr
epor
t
i
ngoff
r
auddi
r
ect
l
yt
ot
hel
egal
aut
hor
i
t
y.
9.
Thef
r
audmay
be
● f
r
audul
entf
i
nanci
al
r
epor
t
i
ng.
● mi
sappr
opr
i
at
i
onofasset
s.
10.Thecompani
esact2013l
ay
sdownheav
ypenal
t
i
esonanaudi
t
ori
fhef
ai
l
st
odet
ectf
r
audora
possi
bi
l
i
t
yoff
r
aud,
t
hepenal
t
yi
sequalt
or
upees10l
acst
omaxi
mum ofr
upees25l
akhsand
cr
i
mi
nal
pr
oceedi
ngscanbei
ni
t
i
at
edagai
nstanaudi
t
or
.

SA250:Consi
der
at
i
onofl
awsandr
egul
at
i
onsi
nanAudi
tof
f
i
nanci
alst
at
ement
s
1.
Thi
sSA deal
swi
t
ht
heaudi
t
or
'
sr
esponsi
bi
l
i
t
yi
nconsi
der
i
ngt
hel
awsandr
egul
at
i
onsi
naudi
tof
f
i
nanci
al
st
at
ement
s.
2.
Theef
f
ect
sofl
awsandr
egul
at
i
onsv
ar
i
esconsi
der
abl
y.
3.
Thel
awsandr
egul
at
i
onswhi
char
eappl
i
cabl
et
ot
he ent
i
t
yconst
i
t
ut
el
egalandr
egul
at
or
y
f
r
amewor
k.
4.I
ti
sr
esponsi
bi
l
i
t
yofmanagementwi
t
ht
heov
er
si
ghtofTCWG t
oensur
et
hatent
i
t
yi
soper
at
i
ngi
n
accor
dancewi
t
hr
el
ev
antl
awsandr
egul
at
i
ons.
5.Ther
ear
esomel
awsandr
egul
at
i
onswhi
char
eadi
r
ectef
f
ectont
heFi
nanci
alst
at
ement
si
n
det
er
mi
ni
ngi
t
sr
epor
t
abl
eamount
sanddi
scl
osur
ei
nf
i
nanci
alst
at
ement
sandmanagementshoul
d
ensur
ecompl
i
ancewi
t
ht
hesame.
Rol
eofaudi
t
or
● Obt
ai
nanunder
st
andi
ngoft
hel
egal
andr
egul
at
or
yf
r
amewor
k.
● Audi
t
orshoul
dobt
ai
n suf
f
i
ci
entandappr
opr
i
at
eaudi
tev
i
dencet
hatt
hecompanyhas
compl
i
ed wi
t
ht
he l
aws and r
egul
at
i
ons whi
ch hav
e a di
r
ectef
f
ecton t
he f
i
nanci
al
st
at
ement
si
ndet
er
mi
ni
ngi
t
sr
epor
t
abl
eamount
sanddi
scl
osur
ei
nf
i
nanci
alst
at
ement
i
ncl
udi
ngt
het
axl
awsandl
abourl
aws.
● Per
f
or
m addi
t
i
onal
pr
ocedur
est
ocheckanynoncompl
i
ance.

Mahendr
akar
t
ar
un15@gmai
l
.
com;
cel
l
:
8019839923.

6

Bhanur
aj
i
mher
e@gmai
l
.
com;
cel
l
: 9133032358
● I
nqui
r
ywi
t
ht
hemanagementandexami
ni
ngt
hecor
r
espondencewi
t
hl
egalaut
hor
i
t
yi
ncase
ofnoncompl
i
ance.
● Respondappr
opr
i
at
el
yt
ononcompl
i
anceorsuspect
ednoncompl
i
ance.
● Obt
ai
nwr
i
t
t
enr
epr
esent
at
i
onf
r
om t
hemanagementaboutpossi
bl
enoncompl
i
ance.

SA:
260Communi
cat
i
onwi
t
ht
hosechar
gedwi
t
hgov
er
nance
andSA:
265Communi
cat
i
ngdef
i
ci
enci
esi
ni
nt
er
nalcont
r
ol
t
oTCWG
1.
Thosechar
gedwi
t
ht
hegov
er
nancear
et
hegr
oupofpeopl
ewhoar
eequal
l
yaccount
abl
eandhol
d
t
her
esponsi
bi
l
i
t
yoff
i
nanci
al
st
at
ement
s,
t
heyassi
st
edt
hemanagementt
ot
akepol
i
cydeci
si
ons.
2.I
ti
st
her
esponsi
bi
l
i
t
yofanaudi
t
ort
ocommuni
cat
ei
mpor
t
antmat
t
er
swi
t
ht
hosechar
gedwi
t
h
gov
er
nanceal
ongwi
t
ht
hemanagement.
3.
Anaudi
t
orcancommuni
cat
ef
ol
l
owi
ngmat
t
er
st
ot
hosechar
gedwi
t
hgov
er
nance
● I
ndependenceofaudi
t
or.
● Si
gni
f
i
cantaudi
tf
i
ndi
ngs.
● Scopeofaudi
t
or
saspert
er
msofengagement
.
● Ther
i
ski
nv
ol
v
edi
namanagementt
ocont
i
nueasagoi
ngconcer
n.
● Si
gni
f
i
cantdi
f
f
er
encesi
ni
nt
er
nalcont
r
ol
sandi
ft
her
ei
snodef
i
ci
ency
,t
her
ei
snoneedt
o
communi
cat
ewi
t
ht
hosechar
gedwi
t
hgov
er
nanceandanaudi
t
orcanonl
ycommuni
cat
e
wi
t
ht
hemanagement
.
4.Thosechar
gedwi
t
hgov
er
nancecanbeani
nt
er
nalaudi
t
or,
l
egaladv
i
sor
,
gov
er
nmentaut
hor
i
t
yor
ev
ent
hechai
r
manoft
hecompany
.
5.Audi
t
orshoul
dsel
ectappr
opr
i
at
et
hosechar
gedwi
t
hgov
er
nanceandt
r
yt
ocommuni
cat
emat
t
er
s
i
nwr
i
t
i
ng.Suchcommuni
cat
i
onsmustbemadeont
i
mel
ybasi
sandshoul
dbedocument
edi
nt
he
wor
ki
ngpaperf
i
l
ef
orf
ut
ur
er
ef
er
ence.
6.Anaudi
t
orshoul
dappl
yhi
spr
of
essi
onalj
udgementt
odeci
det
hemat
t
er
st
hatneedt
obe
communi
cat
edwi
t
ht
het
hosechar
gedwi
t
hgov
er
nance.

SA299:
RESPONSI
BI
LI
TYOFJOI
NTAUDI
TORS
1.Whenoneormor
eaudi
t
or
soraudi
tf
i
r
msar
eappoi
nt
edt
oaudi
tt
hef
i
nanci
alst
at
ement
sofan
ent
i
t
yi
ti
scal
l
edasj
oi
ntaudi
t
.
2.Thi
susual
l
yt
akespl
acei
nt
hecaseofl
ar
gesi
zeent
i
t
i
es.
3.
Joi
ntaudi
tbasi
cal
l
ywor
ksont
hepr
i
nci
pl
eof“
di
v
i
si
onofwor
k“
.
Thewor
kcanbedi
v
i
dedbet
ween
j
oi
ntaudi
t
or
sbasedont
heper
i
odort
heassetandt
hel
i
abi
l
i
t
yet
c.
4.
Eachaudi
t
orshoul
dt
r
ustwor
kofanot
heraudi
t
orandshoul
dr
el
yont
hewor
kdonebyhi
m.
Ther
e
i
snoneedt
or
ev
i
ewt
hewor
kdonebyanot
heraudi
t
orast
heyenj
oypeerst
at
uswhi
l
edoi
nganaudi
t
.
5.
Joi
ntaudi
t
or
sar
ej
oi
nt
l
yandsev
er
al
l
yl
i
abl
ef
ort
hewor
knotdi
v
i
dedamongt
hem.
6.Joi
ntaudi
t
or
sar
enotboundbyt
heopi
ni
onsofwor
kper
f
or
medbyoneormaj
or
i
t
yofj
oi
nt
audi
t
or
s,
whi
chmeanst
hati
ft
her
ei
sasi
mi
l
ar
i
t
yofopi
ni
ongi
v
enbyt
hej
oi
ntaudi
t
ort
heycan
execut
eacombi
nedaudi
tr
epor
t.
7.I
ft
heopi
ni
onsar
edi
f
f
er
ent
,
separ
at
eaudi
tr
epor
tar
et
obegi
v
en.
8.
I
ft
heaudi
t
or
,
t
hati
soneoft
hej
oi
ntaudi
t
or
scomeacr
osst
hemat
t
er
swhi
char
er
el
ev
antf
orot
her
j
oi
ntaudi
t
or
st
hen heort
heyshoul
d communi
cat
et
hem t
hemat
t
err
el
ev
antt
ot
hem bef
or
e
f
i
nal
i
zat
i
onofaccount
s.

Mahendr
akar
t
ar
un15@gmai
l
.
com;
cel
l
:
8019839923.

7

Bhanur
aj
i
mher
e@gmai
l
.
com;
cel
l
: 9133032358
9.
Ther
e can be ego pr
obl
ems bet
ween j
oi
ntaudi
t
or
s when f
i
r
ms ofdi
f
f
er
entst
andi
ngs ar
e
associ
at
ed,
soSA 299pr
ov
i
dest
her
eshoul
dbepr
opercoor
di
nat
i
onandt
i
mel
ycommuni
cat
i
on
bet
weenj
oi
ntaudi
t
or
st
oachi
ev
et
hei
rcommongoal
s.
10. Al
lt
hej
oi
ntaudi
t
or
shav
et
odocumentt
hei
rr
espectwor
ki
ngpaper
sandpr
esentt
hem i
n
accor
dancewi
t
hSA230

SA300:Pl
anni
nganaudi
toff
i
nanci
alst
at
ement
s:
1.
Pl
anni
ngandaudi
ti
nv
ol
v
esest
abl
i
shi
ngt
heov
er
al
l
st
r
at
egyf
ort
heengagementanddev
el
opi
ngan
audi
tpl
an.Theobj
ect
i
v
eofaudi
t
ori
st
opl
ant
heaudi
tsot
hati
twi
l
lbeper
f
or
medi
nanef
f
ect
i
v
e
manner.
2.
Oncet
heov
er
al
laudi
tst
r
at
egyhasbeenest
abl
i
shedandaudi
tpl
ancanbedev
el
opedt
oaddr
ess
v
ar
i
ousmat
t
er
si
dent
i
f
i
edi
nt
heov
er
al
laudi
tst
r
at
egy
,consi
der
i
ngt
heneedt
oachi
ev
et
heaudi
t
obj
ect
i
v
et
hr
oughef
f
i
ci
entuseofaudi
t
or
sr
esour
ces.
3.
Audi
tpl
ani
smor
edet
ai
l
edt
han audi
tst
r
at
egy
.I
tcont
ai
nst
henat
ur
e,
t
i
mi
ngs,
andext
entofaudi
t
pr
ocedur
est
obeper
f
or
med.Pl
anni
ngf
oranaudi
tpr
ocessj
ustt
akespl
acedur
i
ngt
hecour
seofan
audi
t.
4.
Fol
l
owi
ngt
hi
ngsar
et
obeconsi
der
edbef
or
edr
af
t
i
nganaudi
tpl
an.
a.
Det
er
mi
nat
i
onofmat
er
i
al
i
t
y
.
b.
usi
ngt
hewor
kofanexper
t
,
anot
heraudi
t
orori
nt
er
nal
audi
t
or
.
c.Anal
y
t
i
cal
pr
ocedur
et
obeappl
i
edasr
i
skassessmentpr
ocedur
e.
d.
obt
ai
nagener
al
under
st
andi
ngoft
hel
egal
andr
egul
at
or
yf
r
amewor
k
andhowt
heent
i
t
i
esf
ol
l
owsuchf
r
amewor
k.
e.
nat
ur
eandext
entofaudi
tev
i
dencet
obeobt
ai
ned.
f
.Degr
eeofr
el
i
ancet
obepl
acedont
hei
nt
er
nal
scont
r
ol
sy
st
em and
account
i
ngsy
st
em .
5.Theaudi
t
orshal
ldocumentov
er
al
laudi
tpl
anandaudi
tst
r
at
egi
es.
I
twi
l
lbecomepar
tofaudi
t
document
at
i
on.
6. Engagementpar
t
nerandot
herkeymember
sofengagementt
eam shal
lbe i
nv
ol
v
edi
npl
anni
ng
t
heaudi
t
.

SA 315:
I
dent
i
f
y
i
ngandassessi
ngt
her
i
skofmat
er
i
almi
s
st
at
ement
s.
1.
Ri
skmeansgi
v
i
ngani
nappr
opr
i
at
eopi
ni
ononf
i
nanci
al
st
at
ement
s
2.
Thr
eeTy
pesofr
i
sks.
● I
nher
entr
i
sks:t
hi
sr
i
ski
sboundt
oar
i
senomat
t
erwhat
ev
ert
hecasei
st
akenr
educedbut
can'
tbeel
i
mi
nat
ed.
● Cont
r
olr
i
sks:{r
i
skofmanagement}
Thi
sr
i
skoccur
sduet
oweaki
nt
er
nalcont
r
ol
si
tcanbe
r
educedandev
encanbeel
i
mi
nat
ed
● det
ect
i
on r
i
sk:{r
i
skofaudi
t
or}audi
t
or
spr
oceed y
ou ar
e unabl
et
of
i
nd anymi
ss
st
at
ement
s.
3.audi
t
orshoul
dev
al
uat
eent
i
t
y
'
s
● busi
nessenv
i
r
onment,
t
oi
dent
i
f
yi
nher
entr
i
sk.
● i
nt
er
nal
cont
r
ol
sy
st
em,
t
oi
dent
i
f
ycont
r
ol
r
i
sk.

Mahendr
akar
t
ar
un15@gmai
l
.
com;
cel
l
:
8019839923.

8

Bhanur
aj
i
mher
e@gmai
l
.
com;
cel
l
: 9133032358
4.
Heshoul
ddi
scusswi
t
hhi
saudi
tt
eam,
t
hear
easwhi
char
emor
er
i
sky
.
5.
Heshoul
dal
sodet
er
mi
net
henat
ur
e,
t
i
meandext
entofaudi
tpr
ocedur
est
obeper
f
or
med.
6.Techni
quesusedar
eNar
r
at
i
v
er
ecor
ds,
f
l
owchar
t
,
checkl
i
standI
CQ

Nat
ur
e:
i
nspect
i
on,
obser
v
at
i
on,
i
nqui
r
y
,
cut
of
fpr
ocedur
e,
anal
y
t
i
cal
r
ev
i
ewpr
ocedur
e.

Hi
ghr
i
sk:
Mor
e
audi
t
pr
ocedur
e

Lowr
i
sk:
Less
audi
t
pr
ocedur
e

Ti
mi
ng:
f
ul
l
y
,
hal
f
y
ear
,
i
nt
er
i
m
per
i
od

Hi
ghr
i
sk:
Ful
l
y
ear
t
r
ansact
i
onsmust
be
cov
er
ed

Ext
ent
:
quant
i
t
y
/
sampl
es
oft
r
ansact
i
onst
hat
shoul
dbekept
.

Lowr
i
sk:
Hal
fy
ear
t
r
ansact
i
ons/
i
nt
er
i
m per
i
od
t
r
ansact
i
ons
mustbe
cov
er
ed

Hi
gh
r
i
sk:
Lar
ge
sampl
e
si
ze

Lowr
i
sk:
Smal
l
er
sampl
e
si
ze

SA320:Mat
er
i
al
i
t
yi
nPl
anni
ngandPer
f
or
mi
nganAudi
t
1.
Ani
nf
or
mat
i
oni
sconsi
der
edmat
er
i
alwheni
taf
f
ect
st
hedeci
si
onsofuser
soff
i
nanci
alst
at
ement
.
2.
Anaudi
t
orshoul
dusehi
spr
of
essi
onalj
udgementt
odeci
dewhati
nf
or
mat
i
oni
smat
er
i
alt
ohi
mi
n
t
hecour
seofaudi
t
.
3.Mat
er
i
al
i
t
yl
ev
el
sshoul
dbedeci
dedatt
hepl
anni
ngst
agei
t
sel
f
.
4.Theaudi
t
or
sshoul
dassesst
her
i
skofmat
er
i
almi
sst
at
ement
sandt
hendet
er
mi
net
heaudi
t
mat
er
i
al
i
t
y
.
5.Anaudi
t
orshoul
dest
abl
i
sht
hemat
er
i
al
i
t
yl
ev
el
sbydi
scussi
ngwi
t
ht
hei
rt
eam member
sand
cl
i
ent
skeepi
ngi
nmi
ndt
het
er
msofanaudi
tengagement
.
6.Basedont
her
i
skt
heaudi
t
ori
swi
l
l
i
ngt
oaccept,
heshoul
ddet
er
mi
net
hel
ev
el
sofaudi
t
mat
er
i
al
i
t
y
.
7.
Thesel
ev
el
scanber
ev
i
sedasanaudi
tpr
ogr
esses.
8.Audi
tmat
er
i
al
i
t
yi
si
nv
er
sel
ypr
opor
t
i
onal
t
oaudi
tr
i
sk.

SA:
330Audi
t
or

sr
esponsest
oassessedr
i
sks
1.
Theaudi
t
or
sshal
ldesi
gnandi
mpl
ementov
er
al
lr
esponsest
oaddr
esst
heassessedr
i
sksof
mat
er
i
almi
sst
at
ement
satt
hef
i
nanci
alst
at
ement
sl
ev
elt
or
educet
heaudi
tr
i
skt
oanaccept
abl
y
l
owl
ev
el
byobt
ai
ni
ngsuf
f
i
ci
entandappr
opr
i
at
eaudi
tev
i
dence.
2.Theaudi
t
orshal
l
desi
gnandper
f
or
mt
estofcont
r
ol
andsubst
ant
i
v
epr
ocedur
es.
3.Testofcont
r
ol
i
nv
ol
v
esev
al
uat
i
onofi
nt
er
nal
cont
r
ol
s.
4.
Thequant
um ofsubst
ant
i
v
epr
ocedur
esdependsupont
her
esul
t
soft
estofcont
r
ol5.
When
i
nt
er
nal
cont
r
ol
sar
eweakmor
esubst
ant
i
v
epr
ocedur
esar
ef
ol
l
owedandv
i
cev
er
sa.

Mahendr
akar
t
ar
un15@gmai
l
.
com;
cel
l
:
8019839923.

9


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