Saward Dawson > Articles > Audit – Reasonable AssuranceBlog - Latest News

Audit – Reasonable Assurance

An audit will provide an organisation with an opinion on the true and fair nature of the financial statements.

An audit involves:

  • review and testing of internal controls
  • physical verification of certain documentation and assets
  • direct confirmations with third parties
  • substantive verification of transactions and balances to evidence
  • review of documentation associated with various audit assertions

Benefits of an audit engagement include:

  • provides reasonable assurance that the report is free from material misstatement
  • highlights area(s) for management’s attention

Peter Shields's Articles

Big effort for all as we raised funds for Summer Foundation

An audit will provide an organisation with an opinion on the true and fair nature of the financial statements. An audit involves: review and testing of internal controls physical verification of certain documentation and assets direct confirmations with third parties substantive verification of transactions and balances to evidence review of documentation associated with various audit […]

Read more

Charity inFocus

An audit will provide an organisation with an opinion on the true and fair nature of the financial statements. An audit involves: review and testing of internal controls physical verification of certain documentation and assets direct confirmations with third parties substantive verification of transactions and balances to evidence review of documentation associated with various audit […]

Read more

NFP Fringe Benefit Tax

An audit will provide an organisation with an opinion on the true and fair nature of the financial statements. An audit involves: review and testing of internal controls physical verification of certain documentation and assets direct confirmations with third parties substantive verification of transactions and balances to evidence review of documentation associated with various audit […]

Read more

NFP – Deductible Gift Recipients

An audit will provide an organisation with an opinion on the true and fair nature of the financial statements. An audit involves: review and testing of internal controls physical verification of certain documentation and assets direct confirmations with third parties substantive verification of transactions and balances to evidence review of documentation associated with various audit […]

Read more

Income tax exemption

An audit will provide an organisation with an opinion on the true and fair nature of the financial statements. An audit involves: review and testing of internal controls physical verification of certain documentation and assets direct confirmations with third parties substantive verification of transactions and balances to evidence review of documentation associated with various audit […]

Read more