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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.
Principles of Auditors Procedures i. The financial statements should be prepared on the source of conditions existing on the balance sheet date. ii. The material post balance
What is an audit, what financial records are available and what is their individual function in completing your audit? Audit is an independent examination of financial informat
Question 1: "While their roles sometimes overlap, financial statement auditors and forensic accounting investigators tackle financial fraud issues from different perspectives,
Advantages and disadvantages
four factors which influence the reliability of audit evidence
Recording the Audit - ISA 230 Purpose of working papers It is necessary which all audit work is documented - the working papers are the tangible evidence of the work co
Relevance - Sources of evidence The auditor obtains evidence either through compliance testing of the internal controls or through substantive tests of the information contain
Assets held for Sale - Audit Process A non-current asset or disposal collection is classified as held for sale whether its carrying amount will be recovered principally via a
Reliability - Sources of evidence Reliability of audit evidence is influenced through its nature and its source and since it is dependent upon the specific circumstances, we c
Permanent Audit File The permanent audit file might include, inter alia: a) A copy of the enterprise's statutes and other legal or statutory documents governing the enterpri
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