Objectivity - external auditor report, Auditing

Assignment Help:

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.


Related Discussions:- Objectivity - external auditor report

Audit points - audit process, Audit points - Audit Process Key audit p...

Audit points - Audit Process Key audit points are as 1. Internal control particularly along with regard to computerisation and internal audit.  2. Provision for doubtful

Operational auditing, phases of operational auditing report sample or templ...

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

Meaning of true in auditing, Meaning of True in Auditing Meaning of 't...

Meaning of True in Auditing Meaning of 'true and fair'/present fairly' Truth in accounting is quite different form scientific truth.  Accounting does without a deal along w

Standard defines development and research, Standard Defines Development and...

Standard Defines Development and Research The standard defines development and research as follows: (a) Research - planned and original investigation undertaken along with

Co-operative societies and parastatals, Co-operative Societies and Parastat...

Co-operative Societies and Parastatals Co-operative Societies An audit in this case is carried out as a general audit except you should notice that the auditor is appoi

Procedures in evaluating the work of expert, Procedures in Evaluating the W...

Procedures in Evaluating the Work of Expert The auditor must get reasonable assurance which the expert's work constitutes suitable audit evidence in based of the financial inf

Amortization and impairment, Amortization and Impairment Amortization...

Amortization and Impairment Amortization - capitalized costs would be amortized to reflect the pattern whether the related economic benefits are identified. Once commercial

Statutory audit of bank, what are the things we need to check in statutory ...

what are the things we need to check in statutory audit of bank?

Audit of assets- audit process, Audit of Assets- Audit Process Non cur...

Audit of Assets- Audit Process Non current assets have the fundamental characteristic which they are held for require in the business and not about resale. IAS 1 Presentation

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