If you are auditing a company's books of accounts and you suspect an issue after the audit is finalized, what steps would you take?

Question

Accepted Answer

If discrepancies are found post-audit, further investigation and reporting are essential to ensure accuracy and compliance.

Review supporting documentation: Re-examine invoices, receipts, and contracts to identify any inconsistencies.
Consult with team members: Discuss findings with colleagues to gather different perspectives and insights.
Consider a follow-up audit: If significant issues are found, propose a follow-up audit to address the discrepancies.
Document findings: Prepare a detailed report outlining the concerns and evidence to support your claims.
Communicate with management: Inform relevant stakeholders about the issues and recommend corrective actions.

Accepted Answer

're audit and rectify error with interact with audit team