HAMG Consultancy Group
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Challenges and Limitations of Audit Evidence 
10 Jul 23

Challenges and Limitations of Audit Evidence 

Audit evidence is the cornerstone of the auditing process, providing the necessary support for auditors to form an opinion on the financial statements of an organization. However, it is essential to acknowledge that audit evidence is not without its challenges and limitations. We will explore below the various hurdles faced…
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Evaluation and Documentation of Audit Evidence
06 Jul 23

Evaluation and Documentation of Audit Evidence (Part v)

The evaluation and documentation of audit evidence is a crucial component of the auditing process. It involves the assessment and validation of the information and data gathered during an audit to form a basis for the auditor’s opinion. Effective evaluation and documentation of audit evidence provide assurance to stakeholders that…
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Audit Procedures for Obtaining Audit Evidence: Ensuring Effective and Reliable Assessments
01 Jul 23

Audit Procedures for Obtaining Audit Evidence: Ensuring Effective and Reliable Assessments

Obtaining audit evidence is a critical aspect of the audit process, enabling auditors to evaluate the reliability and accuracy of financial statements. This section explores various audit procedures employed by auditors to gather audit evidence. These procedures include inquiry, observation, inspection, recalculation, reperformance, and analytical procedures. By employing these procedures…
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Characteristics of Reliable Audit Evidence: Ensuring Credibility and Objectivity
26 Jun 23

Characteristics of Reliable Audit Evidence: Ensuring Credibility and Objectivity (Audit Evidence Part iii)

Reliable audit evidence forms the basis for auditors’ assessments, conclusions, and opinions. It is crucial to ensure the credibility and objectivity of the evidence gathered during the audit process. This section examines the key characteristics that auditors look for in audit evidence to ensure its reliability and effectiveness. By understanding…
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Type of Audit Evidence (Audit Evidence Part ii)
24 Jun 23

Type of Audit Evidence (Audit Evidence Part ii)

Audit evidence is the foundation of the audit process, providing support to draw auditors’ conclusions and forming the basis of their opinions in both internal and external audit engagements. This topic provides a comprehensive overview of the different types of audit evidence that auditors utilize to assess the reliability and…
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Introduction to Audit Evidence
20 Jun 23

Introduction to Audit Evidence (Audit Evidence Part i)

Audit evidence refers to the information and supporting documentation obtained by auditors during the course of an audit. It includes the records, transactions, statements, and other relevant data that provide the basis for the auditor’s conclusions and opinions regarding the accuracy and reliability of the financial statements and other information…
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Risk Assessment and Risk-based nternal Auditing
27 May 23

Risk Assessment and Risk-based internal Auditing

Risk assessment and risk-based internal auditing are critical components of an effective internal audit function. They play a key role in identifying and prioritizing areas of risk within an organization, ensuring that audit resources are allocated efficiently, and providing assurance to management and stakeholders. Risk assessment involves the identification, analysis,…
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