Quickcomputerstips
These are some of the difficulties of working with paper:
- Lack of storage space. Paper documents can take up a significant amount of space, and the quantity of paper will increase day by day. ...
- Security issues. ...
- Prone to damage. ...
- Document transportation. ...
- Editing problems. ...
- High costs. ...
- Limit communication and collaboration.
- What are the disadvantages of audit working papers?
- What are the advantages and disadvantages of audit Programme?
- What is the purpose of working paper?
- Is a working paper a report?
- Which is relevant in respect of working papers?
- What are the disadvantages of soft copy?
- Which of the following is not the disadvantage of audit Programme?
- What is audit working paper PDF?
- What is auditing explain the limitations of auditing?
What are the disadvantages of audit working papers?
1. Very often, it creates misunderstanding between the client staff and the audit staff. 2. If it is not properly and carefully prepared it cannot be used as evidence against the auditor for negligence.
What are the advantages and disadvantages of audit Programme?
Reduces the Initiative of Efficient Staff: – A program reduces the initiatives of efficient and competent staff. Thus, staff members cannot make changes in the audit plan and cannot make suggestions to it. Audit Work becomes Mechanical: The program becomes mechanical when it ignores other aspects like internal control.
What is the purpose of working paper?
Working papers are summary documents used by accountants and auditors to prepare financial statements. They act as supporting documentation that organizes and supports up the information found in management reports and financial statements, and they also summarize information found in other client documents.
Is a working paper a report?
A working paper or work paper may be: A preliminary scientific or technical paper. ... Sometimes the term working paper is used synonymously as technical report. Working papers are typically hosted on websites, belonging either to the author or the author's affiliated institution.
Which is relevant in respect of working papers?
Each of the audit working papers should have a proper subject, objective, name of the client, date of the working paper, audit period, sources of evidence, staff who prepare, and staff who review. Reference to relevance working paper should properly cross.
What are the disadvantages of soft copy?
Soft-copy displays have the disadvantage of a less dynamic range than does film, making it more difficult to display the tissues near the skin edge and in dense regions of the breast simultaneously.
Which of the following is not the disadvantage of audit Programme?
The audit work conducted becomes too mechanical. Auditors may have covered the whole field but it can not be said with certainty that all the necessary work have been done. It kills the initiative of capable persons assistant can not suggest any improvement in the plan.
What is audit working paper PDF?
Audit working papers are used to document the information gathered during an audit. They provide evidence that sufficient information was obtained by an auditor to support his or her opinion regarding the underlying financial statements.
What is auditing explain the limitations of auditing?
Generally, the audit evidence the auditor collects is persuasive in nature, not conclusive in nature. So there is never cent percent conclusive evidence in most cases while auditing. This is one of the major limitations of auditing. There also a lot of use of estimates in accounting.
