The external auditor reviews the financial statements every year., The company prepares its annual report in accordance with IFRS., The audit team is examining the inventory records at the moment., The finance manager is discussing the audit findings with the directors., The auditors tested the internal controls last month., The company capitalised these costs in the previous financial year., The auditor has identified several weaknesses in the control system., The company has improved its accounting procedures since last year., The financial statements are prepared by management., The audit report is reviewed by the audit partner before publication., Revenue is recognised when the performance obligation is satisfied., The auditors are currently reviewing the evidence collected during the audit., The company has received a qualified audit opinion., The inventory count was observed by the auditors last week., Internal controls help the company prevent fraud and errors

ACCA audit

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