BACC 7123 Auditing Standards and Problems
The common audit problems as per the course BACC 7123 Auditing Standards and Problems, includes failure to exercise due professional care and the proper level of professional skepticism, unreliable inquiry as a form of audit evidence, lack of confirming accounts receivable, failure to know party transactions and assuming internal controls exist.
ICAI as per the course BACC 7123 Auditing Standards and Problems, has issued 43 Engagement and Quality Control Standards covering several topics relating to auditing and other engagements.
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