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124 results

Auditing & Control Courses & Certifications Online

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Commonly asked questions
On Audit Online Courses & Certifications

Q:   What is Internal Audit?

A: 

Internal audit refers to the independent review of the operations, processes and systems of the company. This service helps the organisation in improving their performance and thus, achieve their goals. Those who are involved in internal auditing need to ensure that the company is following laws, regulations and policies.

Q:   What is Audit Report?

A: 

Audit report is a type of financial document that summarizes the financial performance of the company. An independent author prepares an audit report which includes the unbiased review of the company's financial performance. An audit report consists of the liabilities and assets of the company. The auditor's opinion on company's finances are also included in this report. The aim of audit reports is to make sure that all companies are audited and considered under the same standards.

Q:   What is Statutory Audit?

A: 

A statutory audit is required by the law. This is a legally required review of company or government's financial records. The aim of statutory audit is to make sure that financial statements are accurate and fair. Also, statutory audits ensure that regulatory standards are being followed by the organization. 

Q:   Who is eligible for the position of auditor?

A: 

As per the Section 141 of India Code, a person is eligible for the appointment as an auditor of the company. Do note that the professional is eligible only if she/he is a chartered accountant provided that a firm whereof the majority of the partners practicing in India are qualified for appointment since the aforesaid can be appointed by the firm name to be the auditor of the company.

Q:   Which is the best Auditing field?

A: 

While the best field is relative and depends on the professional's aspiration for career pursuits, 'internal audit' is one of the most popular audit fields amongst professional. The reason behind internal audit being one of the top choices is that the professional gets to learn the details about company's operation. This allows professionals to play a huge role in company's business decisions.

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Commonly asked questions
On Audit Online Courses & Certifications

Q:   Are audit courses free?

A: 

Yes, there are many free audit courses available online that can be opted by students based on their requirement. Say someone wants to enroll in intermediate level of free audit course, then that person can enroll in Coursera's UIUC - Auditing II: The Practice of Auditing

Q:   Can I complete an online audit course in 3 months?

A: 

Yes, it is possible to complete an audit course in a span of 3 months. However, the duration depends on the complexity of the course and if does not have a minimum time requirement. Based on your knowledge, the course can be wrapped up earlier as well. Also, if it is a live programme and has a duration of more than 3 months, then it is not possible to complete the course before 3 months.

Q:   Is online auditing course difficult?

A: 

Online auditing courses can neither be categorized as difficult or easy since there are different levels of auditor courses available in India. Based on your level of knowledge, the course will be regarded as either easy or difficult. Say a beginner level student enrolls in an advanced level audit online course, then automatically the course will become difficult. 

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