Fairness - auditing, Auditing

Fairness -  Auditing

The word fair can have the following meanings:  on the other hand clear, plain and distinct and on the one impartial, equitable and simple.  When fair is required in an accounting text, all can be considered relevant.

Whenever we ask ourselves the questions-fair to whom? So it seems which we should be fair to the user of the accounts in such the user of the accounts has certain expectations.  He expects which accounts will comply along with the Companies Act utilization and he expects also which the accounts will conform to commonly accept the IAS and accounting principles, thus whether we can convince the expectations of the user it can be felt such we have been fair.  Therefore this leads us to relevance, or we say as, the accounts must provide a view which is relevant to the uses of the user.  Therefore it will be expected that the accounts will prove the resources requirement in the company, the changes in the resources and claims against those resources and claims over a period of time.  The accounts report on historical events also.  Therefore they are not intended to be needed for decision making hence they are regularly required for this purpose.


Posted Date: 1/24/2013 7:11:52 AM | Location : United States

Related Discussions:- Fairness - auditing, Assignment Help, Ask Question on Fairness - auditing, Get Answer, Expert's Help, Fairness - auditing Discussions

Write discussion on Fairness - auditing
Your posts are moderated
Related Questions
Your firm has recently been appointed auditors of the Social Transport Corporation and you are commencing the audit of the wages system. The Corporation has about 2500 employee

how to operate distribute amount and section rate also provision party bill

Necessity of Transactions with Related Parties Transactions along with related parties are essential for several reasons: (a) Several financial scandals including related p

#quInternal Audit checklist for fixed assetsestion..

Auditor performs analytical work only at the end of the audit. Ans: I disagree with the statement because: i) Analytical work/procedures are used to obtain an understanding o

You are auditing Pell grant provided to students at six state universities. The Pell grant program is a federal financial aid program for college students. The maximum grant a stud

Research and Development - Audit Process The past of business is littered along with cases of companies which have collapsed as a convulsion of over indulgence in discover and

Audit of Holding Companies and Group Accounts Authoritative documents are as: The Companies Act Cap 486 IAS 27 IAS 28 IAS 31 IFRS 3 ISA 600 r

Explain the purpose and content of a statutory audit report. Explain what recommendations you would make to the case study business Statuary and Non- Statuary audits In

Non-Attendance at Stock Takes Whether the auditor is unable to attend a stock take, since he has numerous clients along with the same accounting date, or stock is situate at r