detailed audit

Detailed Audit

The process of reviewing activities to identify inefficiencies, to reduce costs, and otherwise to achieve organizational objectives in a more complete way than other audits. Detailed audits may investigate potential theft or fraud and ensure compliance with applicable regulations and policies. They also help ensure the accuracy and legality of reports, as well as whether they conform to the Generally Accepted Accounting Principles .

detailed audit

A thorough and complete examination of all or a selected portion of an organization's books. In a detailed audit, as opposed to a normal audit, systems of internal control, the details of all the transactions, books of account, subsidiary records, and supporting documentation may be examined for accuracy, use of generally accepted accounting principles, total accountability, and legality.
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The audit will be conducted by a team of expert auditors under the supervision of WSSP Chief Internal Auditor Zahid Anwar who will then present a detailed audit report to the chief executive officer.
According to the letter, a preliminary assessment of some documents on the operations of the company raised some concerns, hence, the need for a detailed audit to ascertain the facts.
It was however intimated by the management that the audit team may visit the respective organizations in USA and France for a detailed audit.
If a doctor is found not keeping tax records as per the law, he said, the tax commissioner has the right to do a detailed audit on his or her estimated income according to the latter's judgement.
The Ilocos Norte governor called for a detailed audit and forensic examination of all the processes and documents in the rice importation cycle.
'A second audit session (a detailed audit) will be conducted in the near future and is expected to be completed in six to eight months as it involves multiple government agencies and external agencies coupled with the complexity of multiple programmes with different implementation systems,' Waytha added.
The Tetra Pak Plant Secure total-plant management service starts with a detailed audit of all the equipment and systems across a customer's value chain.
According to details, the new Federal Finance Minister Asad Umar has suggested a detailed audit of PCB and all editions of the PSL by SBP.
The Centre told the three-judge bench, headed by Justice Madan Bhimrao Lokur that a detailed audit would be done on all shelter homes by October.
He said a comprehensive and detailed audit of the procedures for setting and printing of question papers for Quality Assurance Test (QAT) and compilation of results was conducted.
FBR Auditors detailed audit of mis-declared information, will have most likely multiple significant effects on the nation's destiny: Firstly; the actual worth of assets will be ascertained; secondly; almost all those assets which they have failed to furnish or declared will be detected; thirdly; the tax evaded thereof will be detected and get deposited and the most significant; on the basis of FBR Audit Reports, the ECP may give clean chit to those found declared correct assets for contesting upcoming election and those involved in furnishing wrong assets declaration must be disqualified.
To achieve the certification, a factory finisher must undergo a detailed audit of its finishing line, coating system and standard operating procedures.