An audit is the examination and analysis of the financial report of a company - as showed in the financial report – carried out by an external individual appointed by that organisation. The financial report includes a Statement of Financial Position, a Statement of Comprehensive Income, a cash flow statement, and statement of changes in equity. Also another part of audit include inspecting notes comprising a summary of significant accounting policies and other explanatory notes. Although every company is different, and each audit you work on will vary, you can follow some common procedures. You can’t issue an audit opinion unless you have sufficient, competent evidential matter. Relevance and reliability are two hallmarks of good evidence.

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