Audit procedures of a Chartered Accountants firm: A study on ACNABIN Chartered Accountants

Abstract

This report focuses on the audit procedures that is followed by maximum CA firms in Bangladesh. In chapter 1 the experience of my three months internship program has been described. In chapter 2 the background information on ACNABIN Chartered Accountants has been put into words. In chapter 3 the main project part of my report has been expressed that is the audit procedures ACNABIN Chartered Accountants follow in their firm as per APM in the context of Bangladesh. In this stage I have done a survey on ACNABIN and based on my survey I have found there are four steps of audit process in CA firm. The steps are planning, collection of evidence, controlling & recording and lastly review & opinion. To get the information about those steps I have collected primary data from my interpersonal observations and one to one interview method. In this case I have interviewed senior article student, supervisor, director and the partner of the firm “ACNABIN Chartered Accountants”. Henceforth, I have collected data from the official website of ACNABIN and other sources as well as journals which help me to identify the key determinants which can define the audit procedures ACNABIN follows. The main objective of this chapter is to know about the audit procedures of ACNABIN Chartered Accountants. To know the audit procedures of ACNABIN I have analyzed the process of appointing auditors, the initial planning of the audit, assessing the risk of material misstatement, the required audit evidence by testing various audit assertions, performing review of audit reports, and opinion of partners of ACNABIN on the audit report from the observations of overall documentations. Last but not least, it will be recommended for ACNABIN that they should overcome their weaknesses to improve their audit work.