LEARN IT AUDIT WITH ME

Merry Marshela

Learn IT Audit with Me - IT Audit Student, currently studying at BINUS University. Let's learn something unique and never seen about technologies. Please check blog site to read some articles and watch the related videos in this homepage. Thank you :)

Home: Welcome

ALL ABOUT ME

Your Friend to Learn IT Audit

I'm a junior studying IT Audit at BINUS University. I strive to learn about technologies, focused on Risk Assesment and Auditing. Hopefully I can share what I've learn these past 2 years here. Please send me an email if you have any thoughts about IT Auditing, and let's learn together. Perhaps you're the professional in this field, please kindly teach me more, that's my humble request ^_^

Home: Homepage_about

WHY AUDIT?

Discover what is Auditing here

Home: Service

AUDITING

An audit is the examination of the financial report of an organisation - as presented in the annual report - by someone independent of that organisation. The financial report includes a balance sheet, an income statement, a statement of changes in equity, a cash flow statement, and notes comprising a summary of significant accounting policies and other explanatory notes.

The purpose of an audit is to form a view on whether the information presented in the financial report, taken as a whole, reflects the financial position of the organisation at a given date, for example:

Are details of what is owned and what the organisation owes properly recorded in the balance sheet?
Are profits or losses properly assessed?

https://www.pwc.com/m1/en/services/assurance/what-is-an-audit.html

WHAT CAN'T AUDITORS DO?

Predict the future – The audit relates to a specific past accounting period. It does not judge what may happen in the future, and so cannot provide assurance that the organisation will continue in business indefinitely.
Be there all the time – The audit is carried out during a defined timeframe, and auditors are not at the organisation all the time. The prime purpose of the audit is to form an opinion on the information in the financial report taken as a whole, and not to identify all possible irregularities. This means that although auditors are on the look-out for signs of potential material fraud, it is not possible to be certain that frauds will be identified. https://www.pwc.com/m1/en/services/assurance/what-is-an-audit.html