How audit fieldwork, walkthroughs and exit discussions work
The presenter outlined audit fieldwork steps: initial walkthrough, field tests and reconciliations, preliminary exit discussion for additional documents, and a final exit discussion when results are presented and the completed audit package is mailed.
The full story
The presenter described the audit process beginning with an initial audit discussion and a walkthrough of the business to understand operations and transaction flow, followed by fieldwork that analyzes reporting methods, work papers and internal controls. They said auditors perform tests of completeness and use sampling methods to reduce burden.
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