What are the key features of auditing?

The key features of auditing are:

• ·         Engagement
• ·         Audit Plan & Programs
• ·         Risk based systematic approach
• ·         Competency
• ·         Independence
• ·         Objectivity
• ·         Due professional care
• ·         Planning, Supervision and Sufficiency
• ·         Materiality
• ·         Sampling
• ·         Compliance & Substantive testing
• ·         Evidence gathering
• ·         True & Fair opinion

Key Features of Auditing are :Integrity ObjectivityProfessional Competence and Due care,Professional BehaviorConfidentiality 

Audit is a systematic and scientific examination of the books of accounts of a business and it is  undertaken by an independent person or body of persons who are duly qualified for the job. Audit is a verification of the results shown by the profit and loss account and the state of affairs as shown by the balance sheet. 

As accounting student in usmanu danfodiyo university sokoto,Nigeria,i am privilege to answer this question,below are the six key features of auditing;SYSTEMATIC PROCESS,THREE PARTY RELATIONSHIP(that is the auditor,manager and shareholder),SUBJECT MATTER,EVIDENCE,ESTABLISHED CRITERIA AND OPINION.