Disadvantages of audit note book

It is considered to follow the set of rules. These extracts help the auditor to report on the financial matters of business. The matters arising during the course of audit.

Progress of audit work together with the dates on which the work was undertaken and completed.

Audit book

When the audit work is in progress he can note some important points. It mentions the maximum of the costs so that people can have prior intimation about the auditing. Advantages of Audit Note Book 1. Allocation of work among different audit staff. Advantages of note book are as follows: Audit notebook serves as a valuable tool to remember information relating to audit, queries and explanations sought and rendered during the course of audit. It has a more constructive way of improving the efficiency of business within the management. This carries greater authority standards for the account to be authorized.

The entries may not be self-explanatory so the auditor can get information. If there is pending work after the expiry of time period, he can be held responsible for it.

Names of principal officers, their duties and responsibilities. The complete address of the business place and head office is necessary.

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