https://www.taxtmi.com/news?id=17733 The Guidance Note to SCA 101 requires cost auditors to perform pre engagement checks (appointment, ethics, terms), develop an Overall Audit Strategy and a detailed audit plan tailored to the entity's characteristics, assess risks of material misstatement through understanding the entity and performing inquiries, analytical procedures and inspections, and to design responses linking nature, timing and extent of procedures to assessed risks. Auditors must determine materiality, document and update strategy and plan as needed, consider reliance on others and experts, and maintain comprehensive audit documentation of procedures, changes and judgements. en-us Thu, 30 Mar 2017 12:44:59 +0530 Wed, 11 Feb 2026 15:56:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=17733 The Guidance Note to SCA 101 requires cost auditors to perform pre engagement checks (appointment, ethics, terms), develop an Overall Audit Strategy and a detailed audit plan tailored to the entity's characteristics, assess risks of material misstatement through understanding the entity and performing inquiries, analytical procedures and inspections, and to design responses linking nature, timing and extent of procedures to assessed risks. Auditors must determine materiality, document and update strategy and plan as needed, consider reliance on others and experts, and maintain comprehensive audit documentation of procedures, changes and judgements. News - Thu, 30 Mar 2017 12:44:59 +0530 https://www.taxtmi.com/news?id=17733