The audit is structured into activities that follow a logical sequence. The audit will focus on the management and delivery of the electronic device, which supposes fluxes of electronic devices and procedures of treatment specific associated.
There are six essential features or characteristics of auditing are;
- Systematic process.
- Three-party relationship.
- Subject matter.
- Established criteria.
The essential features of Auditing are explained below;
- Systematic process
Auditing is a systematic and scientific process that follows a sequence of activities, which are logical, structured, and organized.
- Three-party relationship
The audit process involves three parties, that is, shareholders, managers, and auditors.
- Subject matter
Auditors give assurance on a specific subject matter. However, the subject matter may differ considerably, such as – data, systems or processes and behavior.
The auditing process requires collecting the evidence, that is, financial and non-financial data, and examining thereof.
- Established criteria
The evidence must be evaluated regarding established criteria, which include International Accounting Standards, International Financial Reporting Standards, Generally Accepted Accounting Principles, industry practices, etc.
The auditor has to express an opinion as to the reasonable assurance on the financial statements of the entity.
Conclusion on Audit Features
Audit Features influences the objectives of the audit to refer to the security of the information and systems, the protection of the personal data, access to some databases with an informational sensitive character.