Your SlideShare is downloading. ×
0
Session 1    publication pre lecture - introduction to audit and corporate governance
Session 1    publication pre lecture - introduction to audit and corporate governance
Session 1    publication pre lecture - introduction to audit and corporate governance
Session 1    publication pre lecture - introduction to audit and corporate governance
Session 1    publication pre lecture - introduction to audit and corporate governance
Session 1    publication pre lecture - introduction to audit and corporate governance
Session 1    publication pre lecture - introduction to audit and corporate governance
Session 1    publication pre lecture - introduction to audit and corporate governance
Session 1    publication pre lecture - introduction to audit and corporate governance
Session 1    publication pre lecture - introduction to audit and corporate governance
Session 1    publication pre lecture - introduction to audit and corporate governance
Session 1    publication pre lecture - introduction to audit and corporate governance
Session 1    publication pre lecture - introduction to audit and corporate governance
Session 1    publication pre lecture - introduction to audit and corporate governance
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

Session 1 publication pre lecture - introduction to audit and corporate governance

101

Published on

Audability introduction

Audability introduction

Published in: Business, Technology
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
101
On Slideshare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
4
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. 1. Introduction to audit and corporate governance Audability Ltd 1
  • 2. Spot the auditor  Draw a picture of an auditor Group exercise Audability Ltd 2
  • 3. Spot the auditor Group exercise Audability Ltd 3
  • 4. An audit involves….  Investigating information prepared by someone else to decide whether it is fairly stated Group exercise Audability Ltd 4
  • 5. An audit involves….  Reporting back on your results Group exercise Audability Ltd 5
  • 6. Four key concepts     Planning Risk assessment Evidence Materiality Group exercise Audability Ltd 6
  • 7. Audability Ltd 7
  • 8. What is audit? Narrow External Audit Wider Internal Audit Widest Anything that uses the work audit e.g. a ‘Health and Safety Audit’ Audability Ltd 8
  • 9. External versus internal audit External Audit Internal Audit Requirement Usually yes e.g. Companies Act Usually no Objectives ‘True and fair view’ Assurance on & sometimes more systems & controls Independence Never an employee Can be employees Reporting Shareholders/ public Audability Ltd Management 9
  • 10. External audit: private vs public Private sector Public sector Requirement Yes – Companies Act Yes – different bits of legislation Objectives ‘True and fair view’ & sometimes more ‘True and fair view’ & value for money Independence Firm – appointed by shareholders Agency or firm – usually not appointed by body Reporting Shareholders Body/Parliament/ Public Audability Ltd 10
  • 11. Some key qualities of auditors … o o o o Independence Integrity Objectivity Professional scepticism Audability Ltd 11
  • 12. Professional sceptisism Group exercise Audability Ltd 12
  • 13. Benefits of an audit  What do you think are the benefits of having an audit (external or internal)? Group exercise Audability Ltd 13
  • 14. Benefits of audit Funding Funders Management Accountability Audability Ltd 14

×