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An Introduction

to
Risk Based Audit

Institute of Chartered Accountants of Nepal

cfly{s ljj/0fpk/
Joj:yfkgsf] lhDd]jf/L
n]vfdfg, cEof; / k|rng cg'?k cfly{s ljj/0f tof/ ug]

{ Pj+ plrt ?kdf k|:t'lts/0f ug]{


cfly{s ljj/0f hfn;fhL, q''l6 / unt cfFs8f /lxt
;f/e"t ?kdf k|:t'lts/0f ug,]{
cfGtl/s lgoGq0f k|0ffnL ljsf; u/L lg/Gt/ k|efjsf/L
x'g] u/L :yflktug,]{
pko'Qm n]vf lgltsf] 5gf}6 u/L sfof{Gjogug]{ ,
cfjZostf cg';f/ plrt n]vf cg'dfg nfu" ug]{ .

n]vfk/LIfssf] lhDd]jf/L
cfly{s ljj/0f pk/ n]vfk/LIf0fsf] cfwf/df /fo JoQm

ug'{ ,
k|rlnt P]g, sfg'g, cfwf/e"t n]vfk/LIf0f l;4fGt,
n]vfk/LIf0f dfg / dfu{ bz{gsf cfwf/df n]vfk/LIf0f
;DkGg ug'{ ,
n]vfk/LIf0fdfg tyf dfu{bz{g cg';f/ Joj;flos cfrf/ ;
+lxtfsf] kfngf ug'{
cfly{s ljj/0f ;f/e"t ?kdf unt cfFs8f/lxt k|:t'tePsf] 5
eGg] s'/fdf oyf]lrt cfZj:ttf (Reasonable Assurance) k|
bfgug{ n]vfk/LIf0f of]hgf th{'df u/L tbg';f/
n]vfk/LIf0f ;DkGg ug'{ ,

n]vfk/LIf0f
sfo{ljlw
cfly{s ljj/0fdf v''''''nf;f ul/Psf ;'rgfsf af/]df k':6\ofO{ ug]
{ oy]i6 k|df0f ;+sng ug]{, k|df0fsf] k"0f{, cf+lzs jf
58\s] kl/If0f ug]{
cfly{s ljj/0fdf ;f/e"t ?kdf hfn;fhL jf q'l6 jf unt cfFs8f
k|:t'lt x'g ;Sg] s'/fnfO{ dWogh/ /fVb} cjnDag ul/g]
n]vfk/LIf0f hf]lvdsf] d"Nofg ug]{
cfly{s ljj/0f tof/L tyf oyf{y k|:t'lts/0fsf] nflu cfjZos kg]
{ cfGtl/s lgoGq0fsf] Joj:yf tyf pko'Qmtf af/]df k/LIf0f
ug]{
cfly{s ljj/0f tof/ ubf{ k|of]u u/]sf n]vf lgltsf] ;fGb{lestf,
ljZn]if0f / n]vf cg'dfgsf] pko'Qmtf nufot cfly{s
ljj/0fsf] ;du| l:yltsf] d"Nofg ug]{

n]vfk/LIf0f ul/g] lgsfosf] ;~rfng


;DaGwL 1fg (Understanding of the Entity)
n]vfk/LIfsn] pko'Qm n]vfk/LIf0f dfgb08 / cfjZostf

adf]lhd n]vfk/LIf0f of]hgf ;Dkfbg ug{ n]vfk/LIf0f


ul/g] lgsfosf] af/]df kof{Kt 1fg xfl;n ug'{ kb{5 .
n]vfk/LIf0f ul/g] lgsfosf] ;du| hfgsf/L xfl;n ug{ o;sf]
pTklQ / Oltxf;, cfsf/ / cjl:ylt, ;f+u7lgs Pj+ k|f?k,
nIo, ;~rfng k|s[of, /0fgLlt, ljBdfg hf]lvd, lgoGq0fsf]
jftfj/0f tyf cfGt/Ls lgoGq0fsf] af/]df hfgsf/L xfl;n
ug'{ kb{5 .
o; hfgsf/Ln] n]vfk/LIfsnfO{ n]vf tyf n]vfk/LIf0fsf
;d:ofsf] klxrfg ug{, k|lts[of JoQm ug{ ;dfwfg ug{
;Ifd agfpF5 .

n]vfk/LIf0f ul/g] lgsfosf] ;~rfng


;DaGwL 1fg (Understanding of the Entity)
n]vfk/LIfs nfO{ n]vfk/LIf0f ul/g] lgsfo / o;sf]
;~rfng ;DaGwdf b]xfosf ljifox?sf] af/]df hfgsf/L
x'g' h?/L 5 M
n]vfk/LIf0f ul/g] lgsfosf] Joj:yfkg / ;+u7g
;~rfngdf c;/ k'ofpg] jfx\o tTjx?
jflif{s tyf cfjlws of]hgfx?
n]vf ;DaGwL gLlt tyf ljifox?

cfGt/Ls lgoGq0fsf] hfgsf/L


(Knowledge of Internal Control System)

;~rfngsf] k|efjsf/Ltf tyf sfo{bIftf (Efficiency and

Effectiveness of Operatins)
cfly{s ;"rgfsf] ljZj;lgotf (Reliability of Reporting)
ljBdfg sfg"g tyf lgodsf] cg'z/0f (Compliance of
Laws and Regulations)
Joj:yfkgn] cfef; u/]sf pRrtd hf]lvddf cfGt/Ls lgoGq0f
k|0ffnL cfwf/Lt /xG5 . n]vfk/LIf0f ul/g]
lgsfonfO{ afXo tTjx?, bafj tyf zlQmsf dfWodjf6
cfgf] p2]Zox? xfl;n ug{ afwf k'ofpg] ;~rfngsf
hf]lvdx?sf] (Operations Risk) Joj:yfkgn] cg'udg tyf
hf]lvd sd ug{ sbd rfN5 .

cfGt/Ls lgoGq0f k|0ffnLsf cGt/;DalGwt tTjx?


(Principles of Internal Control System)

Committee of Sponsoring Organizations


(COSO) Framework 2013 cGt/ut lgDg cGt/
;DalGwt tTjx? kb{5g\ :
lgoGq0f jftfj/0f (Control Environment)
hf]lvd lgwf{/0f (Risk Identification)
lgoGq0f lqmofsnfk (Control Activities)
;"rgf tyf ;~rf/ (Information and

Cooounication)
lgoGq0f lqmofsnfkx?sf]cg'udg (Monitoring
Activities)

COSO Cube 2013

cfGt/Ls lgoGq0fsf] k|efjsfl/tf


(Effectiveness of Internal Control System)

n]vfk/LIf0f ul/g] lgsfosf ;~rfng p2]Zox? xfl;n ePsf]


(Operations Objective),
k|sflzt cfly{s ljj/0fx? ljZj;gLo tj/n] tof/ ul/Psf]
(Reporting Objective),
ljBdfg sfg"g tyf lgodx?sf]cg'z/0f ePsf]
(Compliance Objective) .
Effectiveness of Internal Control System depends on
Existence, Continuous Use and Effective Use of the
Control System

hf]lvd / n]vfk/LIf0f b[li6sf]0f


(Risk and Audit Approach)

n]vfk/LIf0fdf c;/ k'ofpg] hf]lvdx?nfO{ hf]lvddf


cfwf/Lt n]vfk/LIf0f (Risk Basd Audit) p2]Zodf ?kfGt/0f u/L
o:tf p2]Zox?sf ;Gbe{df n]vfk/LIf0f b[li6sf]0f (Audit
Approach) lgwf{/0f ul/G5 .
;~rfng hf]lvdx?sf] klxrfg (Operating Risk
Identification)
hf]lvd Joj:yfkg (Risk Management)
hf]lvdx?sf] ljZn]if0f (Analysis of Risk)

lgoGq0f jftfj/0f / n]vfk/LIf0f b[li6sf]0f


(Control Environment & Audit Approach)

k4tLdf cfwfl/t z}nL (System Based Approach)

;Gtf]ifhgs lgoGq0f jftfj/0fn] k4tLdf cfwfl/t n]vfk/LIf0f


z}nLnfO{ k|f]T;fxg ub{5 / n]vfk/LIfsn] cfGt/Ls lgoGq0faf6
cToflws n]vfk/LIf0f ;'lglZrttf xfl;n ug]{ of]hgf ub{5 .
;f/e"t z}nL (Substantive Approach)
cfGt/Ls lgoGq0f k|ltsf] k|lta4tf sdhf]/ 5 eg] ;du| lgoGq0f
jftfj/0f g} sdhf]/ x'G5 . sdhf]/ lgoGq0f jftfj/0fn] w]/} jf
;Dk'0f{ n]vfk/LIf0f p2]Zox?sf nflu ;f/e"t n]vfk/LIf0f ljlwsf]
cfjZostf kb{5 / o;n] n]vfk/LIf0fsf qmddf n]vfk/LIfs a9L
rgfvf] /xg'kg]{ tkm{ O+lut ub{5 . n]vfk/LIfsn] ;f/e"t
n]vfk/LIf0f sfo{ljlwx?sf] dfWodaf6 a9L ;] a9L
n]vfk/LIf0f ;'lglZrttf xfl;nug]{ of]hgf ub{5 .

n]vfk/LIf0f of]hgfx?df ;+zf]wg


(Change in Audit Program)

n]vfk/LIfsn] hf]lvd lgwf{/0f k|s[of tyf lgoGq0f

jftfj/0fsf] af/]df hfgsf/L k|fKt ubf{ n]vfk/LIf0f


ul/g] lgsfosf] ;"rgf tyf ;~rf/ nufot Joj:yfkgn] nfu'
u/]sf cg'udg tyf lgoGq0f lqmofsnfkx?sf af/]df
;d]t 1fg xfl;n ub{5 . o;sf ;fy} lgoGq0f jftfj/0f
cfGt/Ls lgoGq0fsf cGo tTjx?sf cfwf/df x'g]
ePsf]n] olb n]vfk/LIf0f ul/+bf kQf nfu]sf s'/fx?
ck]Iff ul/P eGbf pNn]vgLo ?kdf km/s ePdf
n]vfk/LIfsn] z'?sf of]hgfx?df ;+zf]wg ug{
;Sg]5 .

hf]lvddf cfwf/Lt n]vfk/LIf0f


(Risk-based Audit Approach)

cfly{s ljj/0fx? ;f/e"t unt k|:t'tLaf6 d'Qm (Free from Material


Misstatement) /x]sf] s'/fsf] ;'lglZrttf k|bfg ug'{ n]vfk/LIf0fsf]

p2]Zo xf] . cfly{s ljj/0fsf ;Dk'0f{tTjx? 7Ls ePsf] k|dfl0ft


ug{sf nflu cfjZos ;Dk"0f{ n]vfk/LIf0f k|df0f (Audit Evedence)
xfl;n ug{ n]vfk/LIfs lj/n} ;Ifd x'G5 . hlxn] klg s]xL sndx?
n] ;f/e"t unt k|:t'ltsf] pRr hf]lvd af]Sg] x'bFf n]vfk/LIfsn]
ljj]ssf] k|of]u ug'{kg]{ x'G5 . cGtlg{lxt hf]lvd (Inherent
Risk) pRr /x]sf] cj:yfdf n]vfk/LIf0f /0fgLlt tyf of]hgfn]
n]vfk/LIf0f z}nLnfO{ lj:t[t ?kdf ;Daf]wg ug'{sf cltl/Qm
n]vfk/LIf0f sfo{ljlwsf] k|s[lt(nature), ;do(timing) tyf
dfqfnfO{ (extent) ;Djf]wg ug'{kb{5 .

hf]lvddf cfwf/Lt n]vfk/LIf0f


(Risk-based Audit Approach)
A risk-based audit approach is designed to efficiently and

effectively focus the nature, timing and extent of audit


procedures to those areas that have the most potential for
causing material misstatements in the financial statement.
The risk-based approach requires the auditor to first understand
the entity and its environment in order to identify risks.
Next, the auditor performs an assessment of those risks at both
the financial report and assertion levels.
The result of the assessment categorizes the audit into (a) areas
of significant risk that require specific responses and (b) areas of
normal risk that can be addressed by standard audit programs.
Having assessed risks, the auditor then designs appropriate
audit responses to those risks

Advantages of Risk-Based Audit

Foster dedicated audit coverage to high risk

areas (for minimising audit risk);


Disciplined approach to evaluating audit
universe;
Highlight potential risk otherwise unknown;
Allocate resources where payback is greatest
(for quality of audit report);
Provide auditor a tool to gauge risk in the
audit entity.

Risk Based Audit Approach


At Planning Level: Selection of Audit Entities

Risk-based audit approach gives emphasis on focusing audit on the


high-risk areas minimizes the auditor's risk against credibility of
audit. This avoids both over auditing and under auditing, and leads
to cost effectiveness without compromising the quality of audit. SAI
may divide the audit universe based on the risk, materiality and
legal or contractual provisions as below:
Entities which are mandatorily audited every year (Grade M);
Key entities the volume of transaction of which are material and
hence the audit has to be carried out every year (Grade A);
Entities the volume of transaction of which are fairly material and
hence the audit has to be carried out every 2 year (Grade B);
Entities the volume of transaction of which is not material and
hence the audit has to be carried out every 3 year (Grade A);

In case of the audit of the corporate with number of branches


same approach may be used for planning of audit of different
branches.

Risk Based Audit Approach -At Planning


Financial Statement Level

Risk based audit approach is also used for the

selection of the key items, items of high


potential risk, items with low risk and so on
and the audit program is designed to respond
the risk to avoid both over auditing and under
auditing and make the audit cost
effectiveness without compromising the
quality of audit.

Risk Based Audit Approach


At Assertion Level

The risk based approach is also used at the assertion

level. Based on the result of the test of control, the


auditor shall decide whether the nature, extent and
timing of the audit as specified in the audit program
needs any modification and makes necessary changes
in the program accordingly to respond the risk at the
assertion level. This process continues during all audit
procedures. Based on the materiality and audit risk, the
auditor classifies the items as key items, significant
items and normal items and accordingly different audit
procedures like substantive procedure, analytical
procedure, system audit or sampling test shall be used.

n]vfk/LIf0f k|df0f
(Audit Evidence)

k|efjsf/L n]vfk/LIf0f k|df0f (Effective Audit Evidence)

k|efjsf/L n]vfk/LIf0f k|df0f Ps jf ;f]eGbf a9L


n]vfk/LIf0f p2]Zox? k'/f ug{ kof{Kt tyf pko'Qm
x'G5 / >f]tsf] pRrtd k|of]uaf6 sd vr{df xfl;n ul/G5 .
kof{Kt n]vfk/LIf0f k|df0f (Adequate Audit Evidence)

n]vfk/LIf0f k|df0fsf] kof{Kttf n]vfk/LIfsn] ;Dkfbg


ug]{ n]vfk/LIf0f sfo{ljlwx?sf] dfqf;Fu ;DalGwt 5 .
pko'Qm n]vfk/LIf0f k|df0f (Relevant Audit Evidence)

n]vfk/LIf0f k|df0fsf] pko'Qmtf n]vfk/LIf0f sfo{ljlwx?


sf] k|s[lt tyf ;do ;Fu ;DalGwt 5 .

n]vfk/LIf0f sfo{ljlwsf] k|s[lt


(Nature of Audit)

n]vfk/LIf0f ul/g]lgsfo aflx/af6 xfl;n ul/g]n]vfk/LIf0f k|df0f

n]vfk/LIf0f ul/g]lgsfo leq}af6 xfl;n ul/Psf k|df0fx? eGbf a9L k|


efjsf/L x'G5g\
c;DalGwt t]>f]kIfaf6 xfl;n u/]sf jf ;[hgf u/]sf n]vfk/LIf0f k|df0fx?
;DalGwt kIfaf6 xfl;n u/]sf k|df0feGbf a9L k|efjsf/L x'G5g\
n]vfk/LIf0f ul/g]lgsfosf] ;~rfng leqaf6 xfl;n ePsf] k|df0f cfGt/Ls
lgoGq0f k|efjsf/L ePsf] cj:yfdf a9L k|efjsf/L x'G5
t'ngf, k/LIf0f cjnf]sgaf6 k|ToIf ?kdf xfl;n ul/Psf] n]vfk/LIf0f k|df0f
cGo JolQm;Fu ck|ToIf ;f]wk'5af6 xfl;n ul/Psf] k|df0feGbf a9L k|
efjsf/L x'G5
lnlvt k|:t'tL tyf sfuhftsf] ?kdf /x]sf n]vfk/LIf0f k|df0fx? df}lvs k|:t'tL
eGbf a9L k|efjsf/L x'G5g\ /
Pp6} lgisif{k|fKt x'g] ljleGg >f]taf6 xfl;n n]vfk/LIf0f k|df0f
Pp6}dfq >f]taf6 k|fKt k|df0f eGbf a9L k|efjsf/L x'G5g\ .

n]vfk/LIf0f sfo{ljlwsf] ;do


(Timing of Audit)
cfly{s ljj/0fx?n] ;d]6]sf] cjlw leq, cufl8 jf k5fl8 n]vfk/LIf0f k|df0f xfl;n

ug{ n]vfk/LIf0f sfo{ljlwx? ;Dkfbg ub{5 .


;do cjlw ;dfKt x'g'cl3 g} n]vfk/LIf0f sfo{ljlwx? ;Dkfbg u/]df ;dofjlwsf]
cGTodf pTkGg x'g ;Sg] dxTjk'0f{ unt k|:t'tLx? kQf nufpg g;Sg] ;Defljt
hf]lvdsf] klxrfg ub{5 .
AffFsL cjlwe/ cfGt/Ls lgoGq0f k|efjsf/L ?kdf sfod /xg g;Sg] nfu]df ;f/e"t
n]vfk/LIf0f kof{Kt /x] g/x]sf] ;'lglZrt ub{5 .
olb cGtl/d ldltdf n]vf df}Hbftdf unt k|:t'tLx? kfpF5 eg] afFsL
cjlwsf]nflu ;f/e"t n]vfk/LIf0f of]hgf ul/Psf] k|s[lt, ;do jf ;Ldfdf kl/jt{g
ug]{ gug]{ jf jif{fGtdf yk n]vfk/LIf0f sfo{ljlwx? ;Dkfbg ug]{ ;DaGWfdf
ljrf/ ub{5 . of]lg0f{o ubf{ b]xfosf ljifodf Wofg lbg'{{kb{5 .
klxrfg ul/Psf unt k|:t'tLsf k|s[lt tyf sf/0fsf c;/x?
n]vfk/LIf0fsf cGo kl/R5]b ;Fusf] ;DaGw
n]vfk/LIf0f ul/g] lgsfon] t'?Gt} clen]v u/]sf ;'wf/x? /
afFsL cjlwnfO{ ;d]6\g] n]vfk/LIf0f sfo{ljlwx?sf] kl/0ffd .

n]vfk/LIf0f sfo{ljlwsf] dfqf


(Extent of Audit)

n]vfk/LIf0f sfo{ljlwsf] ;Dkfbg ubf{ ;ft ljlwx? dWo]


Ps jf j9L ljlw k|of]u ul/G5 . oL ljlwx? o; k|sf/ 5g\M
t'ngf (Comparision)
u0fgf (Computation)
:jLsf/f]QmL (Confirmation)
;f]wk'5 (Enquiry)
lg/LIf0f (Inspection)
cjnf]sg (Observation)
ef}lts k/LIf0f (Physical Examination)

hf]lvdsf k|sf/
(Types of Risk)

cGt{lglxt hf]lvd (Inherent Risk - IR)


lgoGq0f hf]lvd (Control Risk - CR)
n]vfk/LIf0faf6 kQfnfUg g;Sg] hf]lvd (Detection risk )
Audit Risk (AR) = IR X CR X DR
;f/k"0f{unt k|:t'tLsf] hf]lvd (Risks of Material Misstatements)

cGt{lglxt hf]lvd tyf lgoGq0f hf]lvdsf] ;+o'Qm ?kg} ;f/k"0f{ unt


k|:t'tLx?sf] hf]lvd xf] . olb n]vfk/LIfsn] ;f/k"0f{ unt k|:t'tLsf
hf]lvdx?sf] :t/nfO{ pRr lgwf{/0f ub{5 eg] of] ljZjf; ul/G5 ls
n]vfk/LIf0f p2]Zox?n] ;d]6]sf cfly{s ljj/0fdf ;f/e"t unt k|:t'tL x'g]
;Defjgf /xG5 .
;f/k"0f{ unt k|:t'tLsf] hf]lvd hlt pRr x'G5 Toltg}a9L ljZjfl;nf]
n]vfk/LIf0f k|df0fsf] cfjZostf x'G5 , sd x'Fb} uPdf n]vfk/LIf0f
sfo{ljlw x?sf] k|s[lt tyf ;do jf ;LdfnfO{ kl/jt{g u/L ;+zf]wg ug{
;Sg]5 .

hf]lvddf cfwf/Lt n]vfk/LIf0f sfo{ljlwx?

a.

(Procedures of Risk-based Audit)

Pre-engagement
Appointment of Auditor
Code of ethics declaration of Audit Team
Competency of Audit Team
Engagement Letter

hf]lvddf cfwf/Lt n]vfk/LIf0f


sfo{ljlwx? (Procedures of Risk-based Audit)
b. Strategic Planning
Understanding of the entity and its environment
Identification of Materiality and preparation of lead
schedule
Preliminary Analytical Procedure
Assessment of Internal Control System
Identification of Risk of Material Misstatement
Using the work of others
Risk Analysis and Audit Approach
c. Detailed Planning
Preparation of the Audit Program

hf]lvddf cfwf/Lt n]vfk/LIf0f


sfo{ljlwx? (Procedures of Risk-based Audit)
d. Audit Execution
Entrance Conference
Test of Control
Sampling
Analytical and Substantive Procedure
Test of Details
Audit Differences and Issue Log
Management Representation
Audit Completion Summary
Final Analytical Review
Preparation of Draft Preliminary Report
Exit Conference

hf]lvddf cfwf/Lt n]vfk/LIf0f


sfo{ljlwx? (Procedures of Risk-based Audit)
e. Reporting
Audit Quality Control Review
Matter of Attention for next year's Audit
Code of Ethics Compliance
Preparation of Management Letter and
Preliminary Report
Preparation of Final Report

lgoGq0fsf] k/LIf0f
(Test of Controls)
lgoGq0fsf] k/LIf0fn] cfGt/Ls lgoGq0f k|s[ofsf]

;Ldfleq Ps jf a9L n]vfk/LIf0f p2]Zox?sf] nflu k|


s[ofdf cfwfl/t z}nLsf] cfwf/ ePsf s]xL
lqmofsnfkx?sf] (Sample Translations) ;+/rgf /
;~rfngsf k|efjsf/Ltfsf af/]df n]vfk/LIf0f k|df0f
xfl;n ug{ lj:t[t n]vfk/LIf0f sfo{ljlwsf] (Test of
Details) k|ltlglwTj ub{5 .

lgoGq0fsf] k/LIf0faf6 kQfnfu]sf ljifox?sf] k|efj


(Implication of the Findings of Test of Control)

olb lgoGq0f k/LIf0faf6 cfGt/Ls lgoGq0f ;+/rgf / ;~rfng

b'j} k|efjsf/L ePsf] k'li6 u/]df n]vfk/LIfsn] of]hgf


u/]sf :ff/e"t sfo{ljlwx?sf] cjnDag ub{5 .
lgoGq0fsf] k/LIf0f ubf{ k|efjsf/L t/Lsfn] lqmofsnfkx?sf]
;+/rgf tyf ;~rfng gePsf] cj:yfdf ;f]] cj:yfsf] k|s[lt tyf
sf/0fsf] cg';Gwfg ub{5 .
ljz]if lgoGq0f k|0ffnLsf] cbIftfsf sf/0f dxTjk'0f{ unt
k|:t'tLx? klxrfg x'g g;s]sf] tyf g;lRrPsf] cj:yfdf lgoGq0f
hf]lvdsf] k|f/lDes lgwf{/0f;Fu d]n vfg] lgisif{ lgsfNg
k'li6 ug]{ n]vfk/LIf0f k|df0f xfl;n ug{ :ff/e"t n]vfk/LIf0f
sfo{ljlwx? (Substantive Procedure) nfu'ug{ ;lsG5 .

lj:t[t ljj/0fsf] k/LIf0f


(Tests of Details)

lj:t[t ljj/0f k/LIf0fsf] p2]Zo n]vfk/LIf0f

p2]Zon] ;Daf]wg u/]sf cfly{s ljj/0f k|:t'tLx?df ;f/


unt k|:t'tLx? ;dfj]z eP gePsf] k'li6 ug'{ jf
n]vfk/LIfsnfO{ ;f/k"0f{ unt ljj/0fx? ;dfj]z ePsf]
nfu]sf cfly{s ljj/0f k|:t'tLx?df ePsf n]vfk/LIf0f
leGgtfsf] /sdsf] cg'dfg ug'{ .
lj:t[t ljj/0fsf] k/LIf0f eg]sf] s'g} n]vf df}Hbft jf
sf/f]jf/sf] ju{ lgdf{0f ug]{ k|To]s cfO6d jf
sf/f]jf/x?df n]vfk/LIf0fsf ljlw dWo] s'g} Ps jf a9L
ljlwsf] k|of]unfO{ a'lemG5 .

lj:t[t ljj/0fsf] k/LIf0fsf nflu cfO6dx?sf] 5gf}6


(Selecting item for Tests of Details)

clt dxTjk'0f{ (Key) cfO6dsf] 5gf}6


k|ltlglwTj d'ns gd"gf 5gf}6 (Selection of Sample)

k/LIf0f ug{ vf]lhPsf ljifo n]vfk/LIf0f ug{ 5gf}6


ul/Psf] gd"gfn] ;Dk"0f{ hg;+Vofsf] k|ltlglwTj u/]sf]
n]vfk/LIfsn] ;'lglZrt ug'{ kb{5 . s'g}Ps gd"gf k'/f
hg;+Vofsf] k|ltlglw x'gsf] nflu hg;+Vofdf ePsf
;Dk'0f{ cfO6dsf] 5gf}6 x'g] ;Defjgf a/fa/ x'Gf' kb{5
.
n]vfk/LIf0fsf] nflu dxTjk'0f{ (Key) cfO6dsf] 5gf}6
ug]{ jf k|ltlglwTj d'ns gd"gf 5gf}6 nfu'ug]
{ eGg]lg0f{o n]vfk/LIfsn] ug'{ kb{5 .

n]vfk/LIf0f ;dfkg
(Completion of Audit)

sfo{kqx?sf] k'g/fjnf]sg (Review of Working Papers)


k'g/fjnf]sg l6kf]6 km5f}{6 ug]{ (Dispostion of Review Notes)
pknAw n]vfk/LIf0f k|df0fx? n]vfk/LIf0f /fo agfpg kof{Kt /

pko'Qm eP gePsf] d"Nof+sg (Evaluating whether the audit evidence


obtained is sufficient and appropriate to form an Audit Opinion)

cfly{s ljj/0fx? ;f/k"0f{unt k|:t'tLaf6 d'Qm ePsf]d"Nof+sg


(Evaluating whether financial statementsare free of material misstatements)

cfly{s ljj/0f k|:t'tLsf]d"Nof+sg (Evaluating Financial Statement


Presentation and Disclosures)

lg/Gt/ ?kdf nfu'ePsf :jLsfo{ n]vf dfg / n]vf ;DaGwL gLltx? .


pko'Qm hfgsf/Lx? v'nfOPsf], juL{s[t ul/Psf] tyf JofVof ul/Psf .
cfly{s ljj/0fsf hfgsf/Lx? ;~rfng ;Fu d]n vfPsf] .
;dfkg sfo{kqsf] tof/L (Preparing a Completion Memorandum)

n]vfk/LIf0f k|ltj]bg
(Preparation of Audit Report)

k|f/lDes k|ltj]bg (Preliminary Report)


Joj:yfkgnfO{ kq (Management Letter)
clGtd k|ltj]bg (Final Report)
n]vfk/LIf0f k|ltj]bgdf b]xfosf cfwf/e't tTjx? ;dfj]z x'G5g\M

! lzif{s (Title)
@ x:tfIf/ / ldlt (Signature and Date)
# p2]Zox? tyf sfo{If]q (Objectives and Scope)
$ k|fks (Addresee)
% ljifo a:t'x?sf] klxrfg (Identification of Subject Matters)
^ sfg"gL cfwf/ (Legal Basis)
&dfgb08sf] cg'z/0f (Compliance with Standards)
* sfo{If]q cg'R5]b (Scope Paragraph)
( /fo cg'R5]b (Opinion Paragraph)

u'0f:t/ ;'lglZrttf k'g/fjnf]sg


(Quality Assurance Review)

ljZje/ ;/sf/, cf}Bf]lus tyf Joj;flos lgsfox? c;n

Joj;flos cEof; / kf/blz{tfsf] dfWodaf6 ;'zf;g


(Corporate Governance) nfO{ cfTd;ft ug{ vf]lh/x]sf
5g\ . skf]{/]6 ueg]{G; tyf c;n Joj;flos
cEof;nfO{ cfTd;ft ug{ n]vfk/LIfsaf6 c;n u'0f:t/
tyf d"No clea[l4sf ;]jfx? (Value Added Services) k|bfg
x'g] / ;'zf;gdf d2t k'ofpg] s'/fsf] Joj:yfkgn] ck]Iff
ub{5 . k'g/fjnf]sg jf n]vfk/LIf0f ;]jfsf] u'0f:t/
lgwf{/0f tyf ;'wf/ ug]{ Ps dxTjk'0f{ ;fwgsf] ?kdf
kl/lrt Quality Assurance Review sf] sfof{Gjog af6 of]
s'/f xfl;n x'G5 .

n]vfk/LIfs u'0f:t/ ;'lglZrttf k'g/fjnf]sgsf]]


p2]Zo
(Objectives of Quality Assurance Review)
pko'Qm dfgb08 cg';f/ n]vfk/LIf0f sfo{;Dkfbg ul/Psf] ;'lglZrt ug]{ .
kl/0ffdnfO{ ;Gtf]ifhgs tj/n] k|:t't ul/Psf] ;'lglZrt ug]{ .
n]vfk/LIf0f sfo{ k|of]ustf{sf] :jfy{ jf lxt cg's"n ePsf] ;'lglZrt ug]{ .
;du|u'0f:t/ ;'lglZrttf k|s[of ;Gtf]ifhgs ?kdf ;~rfng ePsf] ;'lglZrt ug]{ .
n]vfk/LIf0f k|ltj]bgsf] u'0f:t/ ;'lglZrt ug]{ .
;'wf/ k|s[ofnfO{ clw a9fpFb} sdhf]/Lx?sf] k'g/fj[lQ /f]Sg] .
n]vfk/LIf0f sfo{;Dkfbgsf] u'0f:t/sf] d"Nof+sg ug]{ .
;Dkflbt sfo{ ;j{dfGo dfgb08 / gLlt tyf sfo{ljlwx? cg'?k ePsf] ;'lglZrttf ug]

{.
hf/L ePsf k|ltj]bgnfO{ k'li6 ug{ kof{Kt k|df0f k|bfg u/]sf] plrt ;'lglZrttf
ug]{ .
sfof{Gjog tyf sdhf]/L ;RRofpg] sfo{ of]hgfsf] k|efjsf/Ltf nfO{ k'li6 ug]{ .
n]vfk/LIf0f sfo{;Dkfbgsf] u'0f:t/sf] dxTjk"0f{ sdhf]/Lx?sf] klxrfg ug]{ .
u'0f:t/ lgoGq0fsf] bIftf / k|efjsf/Ltfdf ;'wf/ ug{ ;'emfjx? k|bfg ug]{ .