Specialized Audit Situations
Companies carry on thousands of different types of trade, business or professional activities. It is not possible in a manual on general auditing procedures to consider the special audit problems of each of them. In US therefore, when we are talking of specialised audit situations, we would be talking about the financial sector, including institutions such as banks, financial institutions, building societies, insurance companies, hire purchase companies. We are also concerned with charitable organisations, non-profit making organisations, lawyer's practices and public entities such as cooperative societies, parastatals and local government authorities.