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Assignment Sample Of Subject-ACCT2002 Auditing and Assurance Services

Auditing and Assurance Services covers audit processes, the role of auditors and how assurance is provided to stakeholders. It includes details about audit risk and responsibilities, and evidence.
 
1. What is the purpose of an audit?
Auditing is done to verify that and check financial reports of the organisation. It helps to identify any errors in financial reports.
 
2. What risks does auditing include?
Audit has a risk of errors and mistaken financial statements, which can damage business relations.
 
3. What is the importance of audit evidence?
Audit evidence is the information used by the auditors to check financial reports.
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