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Reference to an expert in auditor’s report
When issuing an unmodified auditor’s report, the auditor must not refer to the work of the expert. This is because such a reference might be misunderstood to be a qualification of the auditor's opinion or a division of responsibility neither of which is intended.Occasionally the auditor may feel that even though he is expressing an unqualified opinion, it may benefit the reader of the accounts if he refers to the work of the expert then the auditor must obtain the permission of the expert. If permission is refused and the auditor believes that such a reference is necessary he should seek legal advice.
Forms of evidence a) Observation: is usually witnessing internal control and book-keeping procedures. It includes attendance at wages pay out. Observation of stock-take, open
Work Related Health Problems The health of a person working on a specific job in a particular environment may be affected by both. It is valuable to have a clear understanding
how to calculate materiality given the acoountin period information
Charities and Non Governmental Organizations Key audit areas: Income: donations therefore are not easy to confirm good internal control is needed particularly o
Responsibilities of the Auditor The Auditor has no duty for the prevention and recognition of fraud and error though the annual audit might act as a restraint. As explained
State four factors considered determining sufficiency of audit evidence
Current Audit File The current audit file may involve inter alia: a) A copy of the audited financial statements and other report prepared such as a conclusion of audit work
AsList and define five audit procedures for obtaining audit evidence. (ii) Why is it necessary to obtain corroborating evidence for inquiry and observation? (iii) What is the dif
IAS 36 Impairment of Assets It is very necessary for the auditor to determine the client's method for determining and accounting for impairments. Corresponding IAS 36, 'impai
Companies Modes of Operation Some companies (especially small ones) operate without any overtly expressed plan and simply carry out the business as always, responding to market
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