Audit and assurance

Audit and assurance is the process of reviewing and verifying financial records to ensure they are accurate and compliant with regulations. This includes examining financial statements and other records, testing internal controls, and providing assurance that the financial information is reliable.

Beginner competence definition

At a beginner level of competence, individuals understand the basic concepts of audit and assurance, including the importance of accurate financial records.

Intermediate competence definition

At an intermediate level, professionals are able to perform basic audit procedures, including reviewing financial statements and testing internal controls.

Advanced competence definition

Advanced-level professionals have an in-depth understanding of audit and assurance procedures, including the ability to design and implement effective audit plans and evaluate the effectiveness of internal controls.