June 28, 2022
Auditing standards

What is Auditing standards

Auditing standards

Auditing standards are quality of work that can be used to measure the performance of auditors. The audit staff can follow the stated principles and practices in the conduct of an audit.

Auditing standards

The business world is ever-changing. In order to meet the business needs, the professional accountants are busy improving the rules of the business audit.

General Standards

Technical Training

The auditor must have adequate technical training and proficiency. A firm of chartered accountants provides technical training in the field of auditing.

Due Care

The auditor must exercise due professional care in performing an examination. He must use his abilities in audit as a man of ordinary prudence performs his duties.


The auditor must be independent in fact and appearance. He is Independent if he is not an employee and the other persons do not influence him.

Field Work Standard

Proper Planning

The audit work should be properly planned and any assistant properly supervised. He should prepare an audit program to complete his work.

Obtaining Evidential Matter

The audit works require evidence to check the performance of the business. The auditor should collect sufficient and reasonable evidence in order to discharge his duties.

Evaluation of Internal Control

The study and evaluation of internal control should be made. The compliance and substantive procedures help him to test the system of internal control.

Reporting Standards

Proper Financial Statements

The reboot should state whether financial statements are presented in conformity with generally accepted accounting principles.

Indication of Inadequate Information

The report should indicate any information disclosures in the financial statements, which are Inadequate.

Expressing An Opinion

The report should state judgment on the financial statement or contain the assertion that an opinion cannot be expressed.

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