answersLogoWhite

0

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.

User Avatar

Wiki User

12y ago

Still curious? Ask our experts.

Chat with our AI personalities

ReneRene
Change my mind. I dare you.
Chat with Rene
RafaRafa
There's no fun in playing it safe. Why not try something a little unhinged?
Chat with Rafa
ProfessorProfessor
I will give you the most educated answer.
Chat with Professor

Add your answer:

Earn +20 pts
Q: What is partial audit?
Write your answer...
Submit
Still have questions?
magnify glass
imp