Internship Report on Audit Procedure of Chowdhury Emdad & Co. Chartered Accountants

Abstract

This report entails a detailed discussion of the audit processes that are being carried out in Chowdhury Emdad & Co. Chartered Accountants (CEC) which is a leading CA firm in Bangladesh. The study is prepared as a part of the coursework under Bachelor of Business Administration (BBA) degree requirement in Daffodil International University and carried out on the basis of first-hand internship and backed by primary and secondary data. The main aim of the report is to comprehend and study the audit operations of CEC, such as the engagement operations, audit planning, audit execution, and reporting. The report is organized into multiple chapters which include background history of the firm, audit procedures, internship duties and obligations, dilemmas and experience of the learning process. Voucher checking, helping with the audit fieldwork, and preparing working papers, as well as helping with tax-related documentation were some of the tasks done during the internship, which exposed me to the real-life auditing practices. The report also outlines the procedures that CEC undertakes in external audits such as risk assessment, gathering of evidence and audit sampling as per the Audit Practice Manual of ICAB and international standards. Irrespective of the constraints like time constraints, lack of access to confidential information, and little use of modern accounting software, the internship provided useful information on how chartered accountancy firm work. The report ends with the recommendations on how the engagement of the intern can be improved, and the efficiency of the audit can be increased with the involvement of digital tools and organized training programs. The research does not only integrate academic knowledge with the practice but also adds practical value to the audit picture in Bangladesh.