Auditing Principles and Practices
Introduction – Why Auditing Principles and Practices Matter
In today’s corporate environment, the role of auditing has never been more critical. From enhancing stakeholder trust to ensuring regulatory compliance, the topic of auditing principles and practices sits at the heart of robust governance and financial integrity.
Auditing isn’t just about checking numbers; it is about applying sound audit techniques, adhering to ethical audit standards, evaluating internal controls, gathering reliable audit evidence, assessing audit risk, and finally issuing a clear audit report.
When you understand both the principles (the “why” behind auditing) and the practices (the “how” of auditing), you equip yourself or your organisation with the tools to improve transparency, reduce risk, and add real value beyond mere compliance.
In this blog you will learn:
- The core auditing principles that guide every good audit engagement.
- The key audit practices: procedures, methods and tools used when performing audits.
- Different types of audits and how practices vary across them.
- A step-by-step look at a typical audit process.
- Critical concepts like materiality, professional scepticism and internal controls.
- Common challenges and limitations in the audit process.
- Best practices for auditors and audit clients to maximise value.
- Emerging trends in auditing and how the landscape is evolving.
- The specific context for auditing in India (via ICAI) and how global frameworks (IAASB, PCAOB) influence practice
1. Core Principles of Auditing – The “Why” Behind Good Audit Practice
The foundation of reliable auditing lies in sound auditing principles. These principles serve as the moral, professional and technical guidelines that auditors and organisations must follow. When they are ignored or weakly applied, even the best audit procedures may yield poor outcomes.
Key Principles (and why they matter)
- Integrity
Auditors must act honestly and fairly. They should not allow bias, conflict of interest or deception to interfere with their work.
Integrity builds trust with stakeholders and ensures audit results are credible. - Objectivity & Independence
Auditors must be free from relationships or influences that compromise their judgement. Independence matters in fact and appearance.Without objectivity, risk assessment and conclusion become suspect.
- Professional Competence & Due Care
Auditors must possess the skills, knowledge and experience needed to perform the audit, and they must apply due care.Competence ensures audit procedures are adequate; due care ensures they are performed diligently.
- Confidentiality
Auditors receive sensitive information. They must safeguard it and use it responsibly. - Professional Scepticism & Judgement
An auditor must maintain a questioning mind, not accept all representations without challenge.Professional judgement is critical in risk assessment, evidence evaluation and reporting.
- Planning & Supervision
Audits must be planned properly, with clear strategy, appropriate staffing and supervision of work. - Sufficient & Appropriate Audit Evidence
The auditor must obtain evidence that is both adequate (quantity) and relevant/reliable (quality) to form an opinion.
- Understanding the Accounting System & Internal Controls
Before substantive auditing, one must understand how the entity’s systems and controls operate. - Audit Conclusions & Reporting
At the end, auditors must form a clear opinion, based on evidence and in accordance with standards and ethical requirements.
These principles are embedded in auditing standards worldwide. For example, the ICAI’s “AAS 1 – Basic Principles Governing an Audit” enumerates integrity, objectivity, independence, documentation, audit evidence, internal controls and more. Similarly, the IAASB and the public-sector auditor frameworks emphasise ethics, independence, professional scepticism, and quality control.
2. Auditing Practices – The “How” of Audit Process & Techniques
Having established the principles, we now turn to audit practices — the actual methods, procedures and workflows auditors follow to execute an audit engagement. These comprise the audit process: planning, control evaluation, substantive testing, evidence gathering, documentation, and reporting.
Audit Practices – Key Technique
- Risk-Based Audit Planning / Audit Strategy
Identify where the greatest risks of material misstatement lie (inherent risk + control risk) and allocate resources accordingly.
Determine materiality thresholds: what level of misstatement would influence users of the financial statements. - Understanding and Testing Internal Controls
Review entity’s control environment, IT systems, accounting processes.
Test controls when auditor intends to rely on them (e.g., access controls, reconciliation procedures, approval processes). - Substantive Procedures
Detailed testing of transactions, account balances, disclosures to see if misstatements exist.
Techniques include inspection of documents, confirmation with third parties, recalculation, reperformance, observation. - Analytical Procedures
Use ratio analyses, trend analyses, budget vs actuals, expectation testing to identify unusual fluctuations or relationships. - Sampling
Since checking every transaction is usually impractical, auditors use sampling (statistical or judgmental) to test representative items. - Audit Evidence Evaluation
For each item, evaluate reliability of evidence obtained, reconcile conflicting information, aggregate misstatements below threshold, and determine if overall evidence is sufficient. - Audit Documentation (Working Papers)
Maintain clear audit file: planning documents, risk assessment, procedures done, evidence collected, conclusions reached. Documentation supports transparency and review. - Audit Reporting
Draft the auditor’s report: type of opinion (unmodified, qualified, adverse, disclaimer), basis for opinion, key audit matters (if applicable), other required disclosures.
Communicate with those charged with governance (audit committee, board) about findings, control deficiencies, fraud risks, etc. - Follow-up & Quality Control
For internal audit functions: follow up on management’s response to recommendations.
Audit firms: conduct internal quality reviews, peer reviews, continuous improvement of methodology.
Linking Principles to Practices
We should emphasise how principles support practices:
Principle | Practice Example |
Objectivity & Independence | Auditor selects risk areas without client bias |
Professional Competence | Audit team includes IT/data-analytics specialist |
Professional Scepticism | Auditor questions management’s estimate of inventory obsolescence |
Sufficient & Appropriate Evidence | Substantive tests and confirmation support opinion |
Planning & Supervision | Audit plan approved, staff supervised, work reviewed |
When practices are carried out without adherence to underlying principles, audit quality may suffer — for example, if an auditor lacks independence, evidence may be biased; if insufficient evidence is obtained, conclusions are weak.
3. Types of Audits – How Practices Vary by Audit Purpose
Auditing isn’t one-size-fits-all. Depending on the nature of engagement—whether internal, external, compliance, operational or IT—the audit practices will differ in emphasis, scope and techniques, even though auditing principles remain consistent.
Major Audit Types
- External/Financial Statement Audit
Carried out by independent auditors, aims to express opinion on whether financial statements present true and fair view (or fairly present) in accordance with applicable framework.
Emphasis: substantive testing of balances/disclosures, audit opinion, compliance with standards such as those issued by the PCAOB or IAASB. - Internal Audit
Performed by an entity’s internal audit department (or outsourced). Focus: operational effectiveness, efficiency, internal controls, risk management.
Emphasis: process reviews, control reviews, recommendations rather than formal auditor’s opinion. - Compliance Audit
Examines whether entity has adhered to laws, regulations, contractual obligations or internal policies.
Emphasis: verification of compliance, disclosures, regulatory reporting. - Operational Audit
Reviews business operations, processes and systems to assess economy, efficiency and effectiveness.
Emphasis: performance metrics, cost-benefit analysis, process improvement. - Information Systems / IT Audit
Focuses on the IT environment, systems controls, cybersecurity, data integrity, electronic processing
Emphasis: IT-specific controls, data analytics, system access testing.
How Practices Differ by Audit Type - In a financial statement audit, the auditor often relies heavily on substantive procedures and issues a formal external opinion.
- In an internal audit, the focus may be more on continuous monitoring, internal control assessments and management reporting, rather than issuing an external opinion.
- For an IT audit, practices may include penetration testing, review of user access logs, system change control reviews and data integrity tests — techniques different from traditional financial auditing.
- For compliance audits, checking regulatory adherence may outweigh testing financial balances; documentation and explanations of non-compliance are key.
Understanding the type of audit helps in tailoring the audit plan, staffing, evidence gathering techniques and reporting style, even though the same auditing principles apply across these types.
4. The Audit Process - A Step-by-Step Look at Practices in Action
To bring together principles and practices, below is a typical audit workflow for a financial statement audit. It shows key stages and how practices are applied.
Stage 1: Engagement Acceptance & Continuance
- Auditor assesses whether to accept (or continue) with a client: review management integrity, independence considerations, auditor’s competence, potential risks.
- Issue an engagement letter: defines scope of audit, responsibilities of management and auditor, timing, fees, deliverables.
- This stage ensures the principle of independence and competence is respected.
Stage 2: Planning the Audit - Obtain understanding of the entity, its environment, industry, and internal control systems.
- Identify significant audit areas and assess risk of material misstatement (inherent risk + control risk).
- Determine materiality.
- Develop audit strategy and detailed audit plan: nature, timing, extent of audit procedures.
- Allocate audit resources, assign staff, evaluate use of internal auditors or experts.
- Document audit plan, risk assessment, materiality and strategy.
Stage 3: Understand and Evaluate Internal Controls - Review entity’s internal control framework: policies, procedures, accounting system, IT systems, access controls, reconciliation processes.
- Determine which controls are relevant for the audit and which can be relied upon.
- If auditor plans to rely on controls, design and perform tests of controls (sample transactions, walkthroughs, inquiry, observation).
- Identify control deficiencies and assess the implication for audit risk.
- Document control evaluation and test results.
Stage 4: Perform Audit Procedures – Substantive & Control Tests - Execute tests of controls (if applicable).
- Perform substantive tests: inspection of documents, confirmation from third parties (bank, debtors), analytical procedures, recalculation, reperformance, observation.
- Use analytical procedures to highlight unexpected variances or relationships (trend analysis, ratio analysis).
- Apply sampling to test representative items rather than full population.
- Evaluate evidence: consider reliability, relevance, sufficiency.
- Accumulate identified misstatements, evaluate their materiality and whether they require adjustment or disclosure.
- Consider management’s estimates, accounting policies, going-concern issues, events after balance sheet date.
Stage 5: Evaluate and Form Audit Opinion - Review audit findings, misstatements, control deficiencies, evidence gathered.
- Assess whether audit objectives have been achieved and whether the financial statements are free of material misstatement.
- Review disclosures in the financial statements to ensure completeness and accuracy.
- Conclude on audit opinion: unmodified/unqualified, qualified, adverse, disclaimer (as per standards).
- Prepare auditor’s report.
Stage 6: Reporting and Communication - Issue auditor’s report including opinion, basis of opinion, key audit matters (where applicable), other required paragraphs (e.g., emphasis of matter, other matter).
- Communicate with those charged with governance: significant findings, control deficiencies, fraud risk, going-concern issues.
- For internal audit or operational audit: issue management letter with recommendations for internal control improvements.
- Ensure the audit report is clear, timely and addresses user needs.
Stage 7: Follow-up and Quality Review - For internal audit functions: follow up on management’s implementation of recommendations.
- Audit firms: conduct engagement quality reviews, peer reviews, evaluate staff performance, refine methodology.
- Reflect on lessons learned: what went well, what could be improved (audit planning, documentation, staffing, technology).
- This aligns with the principle of continuous improvement.
5. Key Concepts in Auditing Practices – Audit Risk, Materiality, Professional Scepticism & Evidence
In executing audit practices, there are certain key concepts that auditors must master. These drive much of the decision-making in an audit.
Audit Risk
- Audit risk is the risk that an auditor gives an inappropriate audit opinion when the financial statements are materially misstated.
- It is often expressed as: Audit Risk = Inherent Risk × Control Risk × Detection Risk.
- Auditors design audit procedures to reduce audit risk to an acceptably low level.
- Understanding audit risk helps in planning — for high-risk areas, more extensive audit procedures are required.
Materiality - Materiality in account refers to the significance or significance of fiscal information. It represents the extent to which an elision or misstatement in the fiscal statements could affect the profitable opinions of druggies, similar as investors, creditors, or operation. In simple terms, materiality determines what information is essential enough to impact someone’s judgement about a company’s fiscal health.
- Auditors assess materiality when planning and performing the audit, and when evaluating misstatements found.
- Both quantitative and qualitative factors matter (e.g., an otherwise small amount might be material if it hides non-compliance).
Professional Scepticism & Professional Judgement - Professional scepticism means having a questioning mindset and being alert to conditions which may indicate possible misstatement due to error or fraud.
- Professional judgement is the application of relevant training, knowledge and experience, along with the audit standards, in reaching decisions about the courses of action.
- Both are crucial when dealing with estimates, complex transactions, or management override of controls.
Audit Evidence – Sufficient & Appropriate - Auditors must obtain sufficient (enough quantity) and appropriate (relevant & reliable quality) evidence to draw reasonable conclusions.
- Evidence reliability depends on its source and nature (e.g., externally obtained, contemporaneous documentation, original).
- Variety of audit evidence gathering methods: inspection, observation, inquiry, confirmation, recalculation, analytical procedures.
- Documentation of evidence and reasoning is vital.
Internal Controls & Accounting System Understanding - Internal controls are the policies and procedures designed to provide reasonable assurance that objectives (financial reporting, operations, compliance) will be achieved.
- The auditor’s understanding of the accounting system and controls helps assess risk of material misstatement and determine the nature, timing and extent of audit procedures.
- For example: how the entity captures transactions, authorises them, records them, reconciles them.
6. Challenges & Limitations in Auditing Principles and Practices
Even when auditing principles are well established and practices properly executed, audits face inherent challenges and limitations. Acknowledging them helps audit clients and users interpret audit outcomes reasonably.
Common Challenges
- Control limitations: No internal system is perfect. Errors, collusion, management override or fraud may bypass controls.
- Sampling and non-sampling risk: Because auditors sample, there is risk that misstatements exist in the untested population.
- Estimates and subjectivity: Many accounting figures depend on management estimates (e.g., valuations, provisions) and these carry uncertainty.
- Dependency on management for information: Auditors rely on management’s records and decisions; if management conceals information or misleads, audit may not uncover all issues
- Time & resource constraints: Audit engagements have budgets and deadlines, which can restrict scope or depth.
- Technology and data challenges: With increased IT systems, data volumes and complexity, auditors must adapt (e.g., big data, analytics, cybersecurity).
- Fraud detection complexity: Auditors provide reasonable assurance—not an absolute guarantee that all fraud will be found.
- Going concern and future risks: Predicting future events (insolvency, rapid change) is inherently uncertain.
Implications for Users & Auditors - Audit reports provide reasonable assurance, not absolute assurance.
- Users of audited financial statements should be aware of the inherent limitations of auditing.
- Organisations should view audit as part of a broader governance, risk and control framework—not as a stand-alone guarantee.
- Auditors must prioritise communications: communicate control issues, risk exposures, and areas of significant judgement.
7. Best Practices: For Auditors, For Organisations, and for Audit Committees
To leverage the full benefit of auditing principles and practices, both auditors and organisations must adopt strong best practices beyond the minimum compliance.
Best Practices for Auditors
- Maintain continuous professional education: stay updated with standards (e.g., those of IAASB, PCAOB) and emerging issues.
- Assemble audit teams with a diversity of expertise (industry, IT/data analytics, judgement).
- Adopt a risk-based audit approach: allocate more effort to highest-risk areas.
- Use technology & data analytics: auditing tools, continuous monitoring, anomaly detection.
- Conduct effective planning and supervision: clear audit strategy, timely reviews, adequate resource allocation.
- Document thoroughly: make the audit file transparent, supporting conclusions, logging key judgments.
- Communicate clearly: issue timely reports, highlight key audit matters, discuss control deficiencies with those charged with governance.
- Uphold independence: monitor and address any threats to independence and take appropriate safeguards.
- Reflect and improve: after each engagement, review what worked and what can be improved.
Best Practices for Organisations Being Audited - Build and maintain a strong internal control environment and robust accounting system.
- Provide complete, accurate and timely information to auditors: delays or missing data increase audit risk and cost.
- Collaborate proactively with auditors: treat the audit as valuable for improvement, not just a compliance box-tick.
- Implement audit recommendations: track management action plans and demonstrate follow-through.
- Maintain an audit-friendly culture: open communication, willingness to change and improvement mindset.
- Ensure management and the board are engaged in audit matters: understand key audit issues, control weaknesses, implications for business.
Best Practices for Audit Committees / Boards - Ensure independence of the external auditor and oversight of internal audit.
- Receive, review and question the auditor’s report and key audit matters.
- Monitor management’s responses to audit findings and track implementation of control improvements.
- Encourage internal audit to adopt risk-based planning, data analytics and focus on value-add.
- Promote a culture of integrity, ethics and transparency across the organisation—aligning with auditing principles.
8. Emerging Trends in Auditing Principles and Practices
Auditing is evolving rapidly. Understanding emerging trends helps both auditors and organisations stay ahead and apply the principles and practices more effectively.
Key Trends
Data Analytics, Artificial Intelligence & Automation
- Big data and machine learning help auditors process large volumes of data, identify patterns, anomalies and reduce sampling risk.
- Auditors increasingly adopt continuous monitoring, dashboards, predictive analytics.
IT Audit, Cybersecurity & Data Integrity - As business operations go digital, audits must incorporate IT controls, cybersecurity testing, data processing reliability.
- Auditors must understand system architecture, access controls, cloud environments, data flows.
Sustainability, ESG Assurance & Non-Financial Reporting - Stakeholders now demand assurance not just on financial statements but on environmental, social and governance (ESG) disclosures. Auditing practices are adapting accordingly.
Integrated Audits & Real-Time Assurance - Some organisations move toward more frequent or “near-real-time” assurance rather than annual audits. This requires new audit methods and technologies.
Global Convergence of Audit Standards - Bodies such as IAASB, PCAOB and national accountancy institutes work toward harmonisation of audit frameworks (e.g., International Standards on Auditing – ISAs) so audits across jurisdictions become more comparable.
Focus on Audit Quality, Culture & Ethics - In the wake of audit failures and corporate scandals, regulators emphasise audit quality, ethical culture, enhanced oversight, and auditor accountability.
Remote Auditing & Virtual Work - Post-pandemic, remote audit work, digital workpapers and virtual meetings are now common. Audit practices must adapt to these new modalities.
Auditors and audited entities that embrace these trends can make auditing more efficient, insightful and forward-looking—while continuing to adhere to fundamental auditing principles.
9. Auditing Principles and Practices in the Indian Context
For professionals or organisations in India, it’s useful to understand how global frameworks and local regulation intersect in auditing.
Key Indian References & Entities
- The Institute of Chartered Accountants of India (ICAI) has issued Standards on Auditing (SAs, formerly AAS) applicable for audits in India. For example, SA 200, SA 315, SA 320, SA 230 etc.
- The Comptroller & Auditor General of India (CAG) issues auditing standards for public sector audits, emphasising ethics, independence, professional judgement, due care, risk assessment and documentation.
Key Indian Practice Considerations - Indian audits must align with regulatory requirements under the Companies Act, SEBI regulations (for listed entities), tax laws, and sectoral rules.
- Internal control frameworks in Indian entities often vary in maturity: auditors often place emphasis on evaluating accounting system, IT systems, reconciliations, authorisations, approvals.
- Growth of data analytics in Indian audit practice: Audit firms are increasingly adopting digital audit tools, analytics of ledger data, exception reports etc.
- Auditors in India must demonstrate adherence to auditing principles (integrity, professional competence, independence) and practices (planning, control testing, substantive procedures, documentation) in alignment with ICAI’s pronouncements.
- Indian audit committees / boards are playing greater roles: reviewing auditor’s reports, key audit matters, follow-up on control deficiencies, ensuring audit independence.
By understanding both the underlying global frameworks (IAASB, ISAs) and the local Indian context (ICAI SAs, CAG standards), audit professionals and organisations can execute audits of high quality, address Indian regulatory expectations, and align with international best practices.
10. Practical Checklist – Applying Auditing Principles and Practices Effectively
Here’s a practical checklist you can use (whether you’re an auditor, audit client or board member) to align with auditing principles and practices.
For Auditors:
- Verify independence, objectivity and absence of conflicts of interest.
- Confirm competence of audit team and plan required expertise (IT/data analytics, industry specialist etc).
- Issue engagement letter clearly defining scope, responsibilities, timelines.
- Understand the client’s business: entity, environment, industry, regulatory requirements.
- Assess inherent risk and control risk; set materiality thresholds.
- Evaluate internal controls: design, implementation and operating effectiveness.
- Design audit strategy and detailed plan (nature, timing, extent of procedures).
- Perform tests of controls (if relying), substantive procedures (on transactions, balances, disclosures).
- Apply analytical procedures to identify anomalies/trends.
- Use sampling appropriately and evaluate sample risk and non-sampling risk.
- Obtain sufficient appropriate audit evidence; evaluate reliability of evidence.
- Document audit planning, procedures performed, evidence gathered, conclusions reached.
- Maintain professional scepticism throughout; exercise professional judgement.
- Draft and issue audit report with clear opinion, basis, key audit matters, communications to governance.
- Communicate control deficiencies, fraud risk, going-concern issues to management/governance.
- Conduct post-engagement review: identify lessons learned, improve methodology, update audit tools.
For Audited Organisations / Management: - Build and document robust internal control frameworks: policies, procedures, authorisations, reconciliations.
- Maintain accurate, timely and full accounting records.
- Provide access to auditors: records, systems, staff, management explanations.
- Ensure responsiveness to auditor queries and timely closure of audit items.
- Treat audit findings as improvement opportunities, not just a compliance burden
- Develop action plans for control weaknesses, monitor implementation and report progress.
- Engage actively with audit committee/board: understand key audit findings, follow-up and accountability.
- Keep abreast of regulatory changes, data-analytics risks, IT controls, cybersecurity—all of which impact audit practices.
- Foster a culture of integrity, transparency and open communication with auditors.
For Audit Committees / Boards: - Ensure auditor independence, approve the auditor’s appointment and review service arrangements.
- Review the auditor’s plan, key risk areas, audit scope, timeline.
- Receive and analyse the auditor’s report: opinion, key audit matters, control deficiencies, management responses.
- Ensure management’s responses to audit findings are tracked, implemented, and reported to governance.
- Promote internal audit function with risk-based planning, strong link to external audit and management oversight.
- Stay informed about emerging issues: data analytics, IT controls, cyber risk, ESG assurance.
- Support a culture of auditor collaboration, transparency, improvement rather than adversarial approach.
Conclusion – Making Auditing Principles and Practices Work for You
The landscape of auditing is multifaceted. The phrase “Auditing Principles and Practices” encapsulates both the ethical and professional foundation (principles) and the concrete methods, workflows and techniques (practices) by which audits are executed.
When both are understood, aligned and applied, audits move beyond a compliance activity and become strategic tools—enhancing internal controls, strengthening governance, improving decision-making and safeguarding stakeholder trust.
Key take-aways:
- Auditing principles (integrity, independence, competence, evidence, scepticism) premain timeless and non-negotiable.
- Audit practices (planning, risk assessment, control testing, substantive procedures, documentation, reporting) bring those principles to life.
- Audits provide reasonable assurance, not absolute assurance—acknowledge limitations.
- The audit type (external, internal, operational, compliance, IT) influences practices—tailor accordingly.
- Continuous improvement, technology adoption, data analytics, and enhanced ethics are the future of auditing practices.
- In India, alignment with ICAI (and other local bodies) ensures both global and local relevance of audit work.
- Organisations and auditor teams who embrace best practices will derive more value from the audit than just a tick in the box.
Finally, view the audit engagement not merely as a regulatory requirement—but as an opportunity. It’s a chance to uncover process improvements, to strengthen internal controls, to identify emerging business risks, and ultimately to contribute to more reliable, transparent and resilient financial reporting and operations.
Frequently Asked Questions
Auditing ensures accounting and tax records are accurate, transparent, and compliant. It builds trust between businesses, investors, and regulators.
- Key principles: Integrity, Independence, Objectivity, Competence, Confidentiality, and Evidence-based Reporting.
- These ensure fair and reliable audits under IAASB and ICAI standards.
Auditing detects errors, prevents fraud, ensures tax compliance, and boosts credibility in financial reporting.
- Internal Audit – checks operations and controls
- External audit: reviews financial statements.
- Tax Audit – verifies tax accuracy
- Compliance Audit – ensures legal adherence
- IT Audit – tests system security
Through testing, analysis, and risk evaluation, auditors confirm that reports are accurate and compliant with accounting laws.
Internal controls safeguard assets, ensure correct accounting, and prevent fraud. Strong controls make audits smoother and more reliable.
They ensure businesses follow tax laws and accounting standards set by bodies like ICAI and AICPA, avoiding penalties and errors.
Trends include AI-driven audits, blockchain verification, real-time auditing, and ESG (sustainability) audits improving accuracy and transparency.
It means keeping a questioning attitude, verifying evidence, and not relying solely on management claims — a key part of audit quality.
- Keep accurate records
- Strengthen internal controls
- Use modern accounting software
- Cooperate with auditors
- Stay compliant with financial and tax standards
The goal is to verify accuracy and compliance of financial records, ensuring reliable reporting and strong tax compliance.
Auditing standards are issued by entities like the International Auditing and Assurance Standards Board (IAASB), AICPA, and ICAI in India.
An audit report is the final statement by auditors giving their opinion on whether the financial statements show a true and fair view of the business.
Auditing identifies financial, operational, and compliance risks, helping management implement stronger internal controls to prevent losses or fraud.
A good auditor should have:
- Strong knowledge of business accounting and taxation
- Analytical and critical-thinking skills
- Understanding of audit software and data analysis
- Knowledge of financial reporting standards