PRACTICE OF AUDIT OF ACCOUNTS PAYABLE IN FINANCIAL AUDITS CONDUCTED BY ASIAN AUDITING COMPANY LIMITED Before presenting the specific work steps performed by the auditor, the following section briefly.
CHAPTER : PRACTICE OF AUDIT OF ACCOUNTS PAYABLE IN FINANCIAL AUDITS CONDUCTED BY ASIAN AUDITING COMPANY LIMITED Before presenting the specific work steps performed by the auditor, the following section briefly introduces the client ABC Company ABC Company was established and operated under the Business Registration Certificate No i01061332943 iissued iby ithe iDepartment iof iPlanning iand iInvestment iof iHanoi ifor ithe ifirst itime ion iOctober i11, i2020, iand ichanged ifor ithe isecond itime ion iJuly i17, i2021 Charter icapital iaccording ito ithe iEnterprise iRegistration iCertificate iis iVND i5,000,000,000 i(Five ibillion ieven) Head ioffice: iKhuong iTrung iWard, iThanh iXuan iDistrict, iHanoi iCity The isteps iin ithe iitem iaudit iprocess iinclude: iPlanning ithe iaudit, iperforming ithe iaudit iand isummarizing ithe iaudit iresults iBefore imaking ian iaudit iplan, ithe iauditor imust iconsider iaccepting ithe iclient iand isigning ithe iaudit icontract, iaudit igrouping Accept icustomer: This iis ithe ifirst ijob iof iany iaudit, ihaving ian iimportant irole iin iinfluencing ithe iquality iof ithe iaudit iBasically, iany iaudit iinvolves irisk iBased ion iexperience iand iprofessional ijudgment, ithe iauditor iwill iassess ithe ilevel iof icontract irisk ias ihigh, imedium ior ilow iFrom ithere, iconsider iwhether ito iaccept ithis iaudit ior inot To iassess ithe ilevel iof icontract irisk, iafter ireceiving ian iinvitation ito iaudit ifor ithe iyear iended iDecember i31, i2021, ithe iauditor iwill ifirst ifind iout iwhy ithe iclient iwants ito iaudit: i“ABC iCompany iwants ito ihave ian iaudit iAudited ifinancial istatements iare ito iconfirm ithe ireasonableness iof ithe idocuments, iaccounting ibooks iand ifinancial istatements iof ithe ientity iThe icompany iwants ito iclearly see its shortcomings and errors to overcome and get transparent financial statements so that banks, credit institutions consider lending capital, suppliers can consider the policy for credit purchase …” After that, the auditor collects the basic financial information and the requirements for the client's financial statements, establish risk assessment procedures The auditor