Reporting to the members-fraud suspection, Auditing

Reporting to the members

Except the faults and irregularities outcome in the accounts not giving an accurate and fair view, or do not conform to statute, or appropriate books have not been kept, then there is no requirement to report. To the top management: when the auditor suspects that management are included in irregularities, then he must report to the main board or to the audit committee. To management: all real or potential irregularities must be reported with recommendations for changes. To third parties: the auditor must take legal suggestion or advice from his professional body to make sure the accounts provide a true and fair view, though only disclose those matters where he has an obvious public responsibility to disclose for illustration, when a serious crime has been committed.

Posted Date: 12/3/2012 5:45:34 AM | Location : United States







Related Discussions:- Reporting to the members-fraud suspection, Assignment Help, Ask Question on Reporting to the members-fraud suspection, Get Answer, Expert's Help, Reporting to the members-fraud suspection Discussions

Write discussion on Reporting to the members-fraud suspection
Your posts are moderated
Related Questions
list and explain four factors that influence the auditor''s judgement regarding the sufficiency if the evidence obtain

In previous times, the Kings used to hear their accountants narrate the accounts verbally. Though, as the complexity of the accounting function grew, require was felt to thoroughly

phases of operational auditing report sample or template of companies operational audit report

Initial Identification - Intangible Asset Subsequent to initial identification, an intangible asset is carried at: a) Cost, less any accumulated amortization and any accumu

Statistical sampling – Advantages a) It is scientific and defensible; b) It provides a precise mathematical statement about probabilities of being correct; c) It is efficie

Audit Sampling ISA 530 Audit Sampling and Other Selective Testing Procedures defines Audit sampling is the application of a compliance or substantive procedure to less than 10

Disclosure and Presentation - Audit Process IAS 16 provides exclusive disclosure requirements. Fixed assets should be split into appropriate classes and the following shoul

General phases of control evaluation are: Phase 1: Understand and document • Understand the client's internal control • Document the understanding of internal control o

Q. What is Withholding Allowance? Withholding Allowance -Every taxpayer is allowed to claim a withholding allowance, which exempts a certain amount of wages from being subject

Recognize the Related Parties The auditor should review information provided through the management and directors recognize the names of all identified related parties and sho