Jan 29 • 18M

28 SA 250

Consideration of Laws and Regulation in an Audit of Financial Statements

Open in playerListen on);

Appears in this episode

Neeraj Arora
This podcast is dedicated for Audit Discussions. I will be explaining important concepts of Audit and will also try to invite Industry Experts so that the listeners can not only get theoretical knowledge but can also have practical view of the Audit subject.
Episode details

SA 250- Consideration of Laws and Regulation in an Audit of Financial Statements

Responsibility of Management for Compliance with Law and Regulations

It is the responsibility of management,

  • with the oversight of those charged with governance,

  • to ensure that the entity’s operations are conducted in accordance with the provisions of laws and regulations,

  • including compliance with the provisions of laws and regulations that determine the reported amounts and disclosures in an entity’s financial statements.

Policies are Procedures Implemented by Management to assist in the prevention and detection of non-compliance with laws and regulations.

For CA Inter & Final Classes, checkout EDU91

CA Final Classes: https://www.edu91.org/s/pages/ca-final

ACCA Classes: www.learn91.com

Get Affordable CA Inter & Final Classes with high value-added services.

Thanks for listening to the podcast “Audit By Neeraj”. Subscribe for free to receive new Audit Podcasts.

Listen to more podcasts-

Audit By Neeraj
27 Risk assessment and Response With Example
Listen now (10 min) | Audit evidence to draw reasonable conclusions on which to base the auditor’s opinion is obtained by performing: (a) Risk assessment procedures; and (b) Further audit procedures, which comprise: Test of controls, when required by the SAs or when the auditor has chosen to do so; and…
Listen now
Audit By Neeraj
26. Test of Control
Listen now (15 min) | Test of control Meaning An audit procedure designed to evaluate the operating effectiveness of controls in preventing, or detecting and correcting, material misstatements at the assertion level. Why and When (Circumstances)? The auditor shall design and perform tests of controls to obtain sufficient appropriate audit evidence as to the operating effectivene…
Listen now
Audit By Neeraj
25 Overall Objectives of Auditor
Listen now (15 min) | In conducting an audit of financial statements, the overall objectives of the auditor are ● To obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, ■ whether due to fraud or error, thereby enabling the auditor to express an opinion on…
Listen now