Page 197 - DCOM509_ADVANCED_AUDITING

Advanced Auditing Sukhpreet Kaur, Lovely Professional University

Notes Unit 11: Introduction to Special and Efficiency Audit

CONTENTS
Objectives

Introduction
11.1 Concept of Special Audit

11.1.1 Special Auditing Techniques
11.1.2 Types of Special Audit
11.2 Concept of Efficiency Audit

11.2.1 What is Efficiency?
11.2.2 How does Efficiency relate to Economy and Effectiveness?
11.2.3 Auditing Operations with Non-uniform Outputs

11.2.4 Measuring Efficiency
11.2.5 Benefits of Auditing Efficiency
11.3 Summary

11.4 Keywords
11.5 Review Questions

11.6 Further Readings
Objectives

After studying this unit, you will be able to:
 Discuss the concept of Special Audit

 Identify the special auditing techniques
 Explain the concept of efficiency audit
 Discuss measuring efficiency

Introduction

A special review entails a comprehensive and objective examination of the business underlying
the numbers. It assists management to identify and focus on key areas and issues and provides
insights and comfort to them as well as to outside interests. We provide services on specific
audit assignments like cost audits, fraud investigations, investment audits, compliance audits,
salary audits, certification of sales and other special assignments necessary to provide assurance
to management and interested parties.

11.1 Concept of Special Audit

A special audit report is the report issued by an auditor after inspecting the financial records of
a company following a directive for the audit to be performed before the usual annual audit. The

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