Section 55Sec./Art. 55

Examination and evaluation standards.

1. The audit work shall be adequately planned and assistants shall be properly supervised.

2. A review shall be made of compliance with legal and regulatory requirements.

3. An evaluation shall be made of the system of internal control and related administrative practices to determine the extent they can be relied upon to ensure compliance with laws and regulations and to provide for efficient, economical and effective operations.

4. The auditor shall obtain through inspections, observation, inquiries, confirmation and other techniques, sufficient competent evidential matter to afford himself a reasonable basis for his opinions, judgments, conclusions, and recommendations.