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

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