Important points about auditor - audit process, Auditing

Assignment Help:

Important Points about Auditor - Audit Process

The Points that should be noticed that:

i. The auditor must forever date his audit report. This date should be as close as probable to the date of approval of the financial statement through the directors however must be after that date. ISA 700 needs that the date the director's approval to their accounts must be disclosed.

ii. Special condition. These are concern rare circumstances but probable:

a) Whether the auditor becomes aware among the date of his report and the AGM whenever the accounts will be presented, of information such would change his report then he have to:

1. Discuss the issue along with the directors who may desire to amend the accounts

2. Consider getting legal advice

3. Consider creating a statement at the AGM as he is allowed to through the Companies Act.

b) Whether the directors desire to amend the accounts among the date of the report and, the auditor should the posting to the members

1. Consider whether the proposed amendment needs a change in his report

2. Re date his report

3. Review post balance sheet events up to the re dating.


Related Discussions:- Important points about auditor - audit process

Case study and report, Assessment item 2 Case Study and Report Due date: 19...

Assessment item 2 Case Study and Report Due date: 19-08-2016 Length: 2000 words Task Question 1 (5%) Case: Battersby and Associates Chartered Accountants is a successful mid-t

Factors affecting statistical technique, Factors Affecting Statistical Tech...

Factors Affecting Statistical Technique Factors to be taken into concern before adopting statistical techniques as: a) The number of clients to whom it is appropriate since

Systems based audit approach, Systems Based audit approach The basis of...

Systems Based audit approach The basis of IAS 400, Risk Assessment and Internal Control. The term systems audit refers to the typical audit approach to medium and large comp

Definition of auditing , Definition of Auditing According to Internatio...

Definition of Auditing According to International Standard on Auditing (ISA) objective and common principles governing an audit of financial statements, the purpose of a financ

Inter-related components of internal control, Part A: What are the five...

Part A: What are the five inter-related components of internal control? Briefly discuss them. Part B: A file maintained by the Accounts Department for one of Sharp's s

Auding , What are the are the advantages and disadvantages of auditing an I...

What are the are the advantages and disadvantages of auditing an IT firm

Negligence in general, Negligence in General There is no case against a...

Negligence in General There is no case against auditors and this made it hard to be accurate as to where the auditor’s legal liability falls.  We require therefore referring to

Experts as a source of audit evidence, Experts as a source of Audit Evidenc...

Experts as a source of Audit Evidence Mostly the auditor's work on evidence obtained from along within the entity supported through confirmations from third parties will provi

Strategic audit, A. Board of Directors Best Buy's Board is elected by th...

A. Board of Directors Best Buy's Board is elected by the shareholders to oversee the business and affairs of the company.  The board counsels, advises and oversees management wi

Case law about auditing, assume that auditors lost a civil lawsuit for dama...

assume that auditors lost a civil lawsuit for damages and the court found total losses of $5 million. if the auditors were determined to be 30 percent at fault and were the only so

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd