Objectivity - external auditor report, Auditing

Objectivity - External Auditor Report

Many accounting figures are subjective and contain substantial terms of subjective judgment.  Many more business transactions have financial effects which spread over many more years.  Therefore decisions are to be made, as to the extent to such spending incurred in one year can reasonably be expected to create benefits in other years in the form of revenue.  Therefore objectivity requires which accounts state externally verifiable changes than subjectively seems opinions.  Therefore the accounts must be free from bias, since the creator of the accounts should not permit personal preferences to enter into their accounts preparation work.  All activities are influenced through personal experience in practice and prejudice.  One important thing is for the auditor to be aware of this and for him to be aware of the tendency also to bias in the all financial reporting.

Posted Date: 1/24/2013 7:12:58 AM | Location : United States







Related Discussions:- Objectivity - external auditor report, Assignment Help, Ask Question on Objectivity - external auditor report, Get Answer, Expert's Help, Objectivity - external auditor report Discussions

Write discussion on Objectivity - external auditor report
Your posts are moderated
Related Questions
Valuation - Detailed Audit of Stock IAS 2 prescribes such stock be priced at the lower of price and net realizable price, It is up to the auditor to ensure that net realizable

General advantages and disadvantages of joint audits Advantages: All work and fees are welcome to audit firms. An opportunity to closely inspect the auditing methods

concept,need,advantage

In a financial audit, management assertions or financial statement assertions is the set of information that the preparer of financial statements (management) is providing to anoth

Advantages and Disadvantages of a Continuous Audit Advantages: The regular or continual attendance of the auditor might act as a deterrent to scam; Weaknesses in the


#quInternal Audit checklist for fixed assetsestion..

Provide the data regarding all about auditing of Newspaper agencies

Reliance on the Work of Other Auditors The principal auditor or the primary auditor is solely responsible for the holding company's accounts. So here it is inevitable but that

Higher  normal risk Several audit assignments involve high audit risk and usually in any client there will always be at least one high risk area.  Indications that an audit has