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An audit which is conducted considering the particular area of accounting.
Under partial audit, audit of whole account is not conducted. Generally, transaction of business is related to cash, debtor, creditor, stock etc. A business may conduct an audit of any of these transactions.
An auditor should conduct audit of that transaction as per the scope determined by the agreement. An auditor sign the report clearing stating that the engagement is 'partial audit'. If it is not done so, an auditor will be liable for the loss which is caused due to using the report as complete audit.
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