Assurence

Assurance Hand Note
Professional Stage-Knowledge Level By: Shafique Ahmed-Sr. Officer (Internal Audit-BSRM)

Assurance

CA in Bangladesh www.facebook.com/cainbd

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Assurance Hand Note
Professional Stage-Knowledge Level By: Shafique Ahmed-Sr. Officer (Internal Audit-BSRM) CONTENTS OF ASSURANCE 01.
1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.08 1.09 1.10 1.11 1.12

Preliminary of Assurance:
Assurance Engagement: Key elements of an assurance engagement: Levels of assurance Objective of an Audit: True & Fair Why is assurance important? Why can assurance never be absolute? Professional ethics: Basic principle governing of an audit: Threats and safeguards: Suggestion to improve or safeguard against threat: ICAB Code

02.
2.01 2.02 2.03 2.04 2.05 2.06

Introduction to internal control
Internal control System: Reasons for internal controls Limitations of internal controls Components of internal control: Audit committee Terms of audit committee function:

03.
3.01 3.02 3.03 3.04

Introduction to Internal Audit
Internal audit: External Audit: Differences between internal and external Audit What does internal audit do?

04.
4.01 4.02 4.03 4.04

Audit Appointment:
Engagement Letter: What are the procedures for accepting new engagement? The purpose of an engagement letter is to: The form and remaining content of audit engagement letters are given below:

05.
5.01 5.02 5.03 5.04 5.05 5.06 5.07 5.08 5.09 5.10

Planning the assignment
Audit Planning Audit strategy Why audit plan is significant? Define steps to develop an audit plan including risk assessment procedures, Understanding the entity –why,what,how Professional skepticism Analytical procedures Possible source of information about the client to perform analytical procedure Materially Tolerable error

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Assurance Hand Note
Professional Stage-Knowledge Level By: Shafique Ahmed-Sr. Officer (Internal Audit-BSRM) 06.
6.01 6.02 6.03

Risk assessment
Audit risk- Inherent risk, Control risk, Detection risk Steps to identifying and