Lecture 2 - Concepts And Postulates Flashcards
1
Q
What is the hierarchy of auditing?
A
- Social purpose
- Postulates
- Concepts
2
Q
What Are the 7 postulates of auditing?
A
- Accountability
- Complex/ remote/ significant
- Independent
- Verifiable
- Standards
- Communicated
- Economic/social benefit
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3
Q
What do auditing concepts relate to?
A
-Credibility
-Audit process
-Auditors communication
-Auditors performance
CPCP
4
Q
What are the credibility concepts?
A
- Competence
- Independence
- Integrity and Ethics
5
Q
What are the Audit Process concepts?
A
- Risk
- Evidence
- Judgement
- Materiality
6
Q
What are the Communication concepts?
A
- Reporting
- Truth and Fairness
7
Q
What are the Auditors Performance concepts?
A
- Due care
- Standards
- Quality control (ISA 220)
- Rigour
