The Institute of Chartered Accountants of England issued a Statement on the General Principles of Auditing on 16th August, 1961, which shows the meaning of “Examination in depth” when it states: “Examination in depth” involves tracing a transaction through its various stages from origin to conclusion, examining at each stage to an appropriate extent the vouchers, records and authorities relating to that stage and observing the incidence of internal check and delegated authority. The examination in depth is sometimes called “Auditing in depth.”
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