ADM 4341 Study Guide - Final Guide: Financial Audit, Environmental Audit, Performance Audit

• School: University of Ottawa
• Department: Administration
• Course: ADM 4341
• Professor: Chris Liboiron

Document Summary

Environment which includes the overall environment and the workplace, advantages: inc. csr, no restriction, risk prevention, verifies compliance with laws, disadvantages: costly, audit should be regular in nature, increase liability risk. Financial statement audit: are mandatory, performed by competent and trained staff, done on an annual basis, auditors are partially liable for their reports. Pre-audit: identify company objectives, form audit team, background checks, pre-audit questionnaire, initial site visit, review and adjust audit plan. Audit: review documents, detailed site inspection, interview employees, review audit evidence, closing meeting.