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The auditing are a famous topic in both private and public sectors. However,
in the public sector, the auditing is an up-and-coming issue that has received
little concentration by researchers. To date, only a limited number of studies
on the challenges of audit in the public sector are available, either in the
context of a financial audit or a performance auditThe auditing are a famous
topic in both private and public sectors. However, in the public sector, the
auditing is an up-and-coming issue that has received little concentration by
researchers. To date, only a limited number of studies on the challenges of
audit in the public sector are available, either in the context of a financial
audit or a performance audit. This study focused on the auditing practices in
Bangladesh . The importance of the performance audit function in
Bangladeshi public sector, combined with recent developments related to
this type of audit in the country (such as increasing expectations among the
users andassociated problems in practice) were the reasons for conducting
the study in this area. . Thus, the study aims to identify the existence of the
challenges of performance audit in the public sector of Bangladesh. In
achieving this objective, it explores the perceptions of auditors and auditees.
What is Auditing ?
Auditing involves the testing and evaluation against agreed norms. Auditors
will obtain supporting documentation to assess if the stated is in agreement
with the norms. Therefore it is hard to audit something if there are no agreed
norms. There are many forms of auditing. The most common form is a
financial audit. A financial audit will be performed starting from the use of
auditing assertions. Other forms are an operational audit or an IT audit
What is Auditor ?
An auditor is a professional that accumulates and evaluates evidence to
report on the degree a company's assertions comply with an established set
of procedures or standards (criteria). Use of the title certified public
accountant (CPA) is regulated by state law and individuals using this
designation must be licensed in the state they practice auditing. Each state
has their own regulations for becoming a CPA.
There are four primary types of auditors: certified public accounting firms,
all donor funded development projects to prevent error and fraud, to ensure
accuracy and completeness of accounting records and examine the
adequacy of rules and regulation; to prepare the annual audit report and
submit the same to C&AG for placement before the parliament; to conduct
audits of all Accounts and Financial Statements of donor fund in
accordance with the agreement between the government and donors; to
express an opinion as to whether the financial statements of the donor
funded projects presented are consistent with international standards on
auditing, whether the accounts prepared are in accordance with accepted
principles and whether they present fairly the results of the operation of the
project. In terms of IDA and ADB loans, a separate opinion needs to be
furnished for the statement of expenditure.
Civil Audit:
Following the departmentalization of government accounts, the Civil Audit
Directorate was established in 1985 to strengthen the capability of the C&AG
in discharging his duties. This directorate carries out audits in the following
accounts offices: office of the Controller General of Accounts, Chief Accounts
offices, Regional Accounts offices, District Accounts offices
and Upazila Accounts offices.
CONCLUSION
In todays world; auditing has become an incorporated segment of the
association. All association wants auditing not only for avoidance and
recognition of fake but in addition for organizational effectiveness. Auditing
plays an essential part to appropriately finish the accounting records and
timely preparation of the consistent financial information.
Internal audit moreover helps organization to defend the property and
maintaining the arranged and effectively accomplish of the business
including adherences to the management policies. The manner of auditing is
becoming easier day by day because of using computer aided audit. The
computer aided audit tools and technique software is simplifying and
automating the audit process. The auditor is now able to find any kind of
fraud or material misstatement through the use of CAATTs software.
Government audit also helps the government to find whether the resources
are use effectively and efficiently. They evaluate the data and directly report
to the Comptroller and Audit general of Bangladesh. Also to guard the
shareholder, creditor and supplier from any kind of fraud, every corporation
must verify their financial report by an external auditor. The external auditor
must be an independent man also has to be a member of the ICAB in
Bangladesh.