Audit Techniques

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August 31, 2024 3 min read Definitions

Audit Confirmation: Verifying the Accuracy of Records in Auditing

Auditing Accounting Audit Confirmation Financial Accuracy Verification Accounting Procedures Audit Techniques

Audit Confirmation is a term used for methods employed to verify the accuracy of records and statements during an audit. Learn about its definition, types, examples, and significance in auditing.

August 31, 2024 4 min read Definitions

Risk-Based Audit: Strategic Focus on High-Risk Areas

Auditing Accounting Risk Management Risk-Based Audit Internal Controls Audit Planning Financial Risk Audit Techniques

Risk-based auditing is an approach that identifies and assesses the risks associated with various parts of an organization's system to focus the audit on high-risk areas, thereby increasing the likelihood of detecting errors and irregularities.