LECTURER: MR KAZEMBE PRESENTATION: THE AUDITOR * Appointment of Auditors * Remuneration of Auditors * Qualification for appointment as Auditor * Eligibility for appointment * Ensuring independence of Auditors * Recognized supervisory bodies APPOINTMENT OF AUDITORS The statutory provisions deal with the appointment of an auditor by two categories of a company that is public and other companies. In the case of the public company‚ the auditor must be appointed by the directors within
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independent auditors. There are six audit principles that are prerequisites that should be adhered with to achieve consistent audit results. The six principles are integrity‚ fair presentation‚ due professional care‚ confidentiality‚ independence and evidence based approach. Integrity The auditor should perform the work with honesty‚ diligence and responsibility. By using this method to perform the audit‚ the auditee will be confident the result of the audit is fair and accurate. The auditor must
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tools are now available‚ this paper asks: Do auditors use the available technological tools? What are the difficulties they find? Are there mediators to facilitate usability? Through a cross sectional case-based field study comparing four engagements in a major audit firm‚ this paper finds that the characteristics of the audit team determine the levels of technology adoption. However‚ quality integration between technology support teams and auditors may improve usability and consequently increase
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Just for this reason‚ he was kicked out from his position. Moreover‚ the other two of his executives Rognlien and Lawrence‚ just approved the $203‚000 adjusting entry recorded link to Airlines-Cardillo transaction. Afterward‚ Helen Shepherd‚ an auditor of Touch Ross‚ found the mistake that the money cannot be recorded for the payment to Cardillo was refundable under certain conditions and thus not immediately as revenue‚ so she questioned Rognlien and Lawrence‚ but they still insisted the entry
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Professional Code of Conduct Rule 301 the auditor is not to disclose any confidential client information without the specific consent of the client (Arens‚ Elder‚ & Beasley‚ p. 97). Peter has been disclosing to a friend some of the details of the audit‚ not knowing that there is a relationship between the friend and Smackeys loan officer. This could potentially affect whether or not Smackey will be granted the loan they are seeking‚ and it’s important the auditor always keep information confidential.
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and application of the GAAS. Additionally‚ the Clarity Project seeks to progressively establish the convergence of the United States auditing standards with international standards of auditing (ISAs). While undertaking its role of overseeing the auditors of public companies‚ the PCAOB‚ considers IAASB standards in the development of its own audit standards proposals. PCAOB has adopted eight auditing standards that relate to the auditor’s assessment of and response to potential risks in the audit
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interest. In addition‚ another company that could have used the funds effectively was deprived of the money. DEFINITION : 1. Spicer and Pegler: "Auditing is such an examination of books of accounts and vouchers of business‚ as will enable the auditors to satisfy himself that the balance sheet is properly drawn up‚ so as to give a true and fair view of the state of affairs of the business and that the profit and loss account gives true and fair view of the profit/loss for the financial period‚
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the external auditor is to protect the interest of the public. To achieve this‚ it is important for the public to trust and have confidence in the work of an auditor. It is crucial that auditors appear independent to the public in both fact and appearance. For this reason‚ it is the auditor’s responsibility to ensure that there are no personal or business relationships with anyone in a position of influence within the firm they are auditing. Even though the personality of the auditor might allow him
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9Th February 2015 Contents Page Introduction 3 Main Report 3 Pay Methods and Procedures 3 Appropriateness of methods and procedures against Audit requirements 5 Design and distribution of payroll outputs 7 Application of quality standards to the payroll function 8 Conclusion 10 Recommendations 10 References 12 Introduction The purpose of this report is to discuss the effectiveness of the internal procedures used to
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that if I was in David Sokol’s position‚ I would probably do the same thing David had done. I believe the proper working ethics are accountability‚ professionalism and integrity. As a COO‚ I should monitor the daily operation of the company and report the strong and weakness of internal control to the CEO. I should be accountable and professional for these responsibilities as David Sokol did. “If you ever obtain something by lying‚ it’s worthless. Integrity is the highest order of the day.” Said
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