12-Audit 1-.docx - Assignment April 3 2019 1 QUESTION a MS Zhu choose external audit voluntary since as a private company ABC Inc does not have legal

12-Audit 1-.docx - Assignment April 3 2019 1 QUESTION a MS...

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Assignment April 3, 2019 QUESTION a) MS. Zhu choose external audit voluntary since as a private company ABC Inc. does not have legal obligations to conduct an external audit. Since her business has been in success since the time she started so probably she her focus in practical consideration or to expand her business she plans for loans from her bank although she had a good relation with banks but to finance the bank may required external audit for grand presenting any grand proposal before any loan. On other hand, by external audit she gain public trust on herself and even for the success and growth of the company. External Audit also help her to modify financial statements and she can advice from the external on financial reports and accordance to GAAP and also had more credible to her business and financial reports and strength her company’s reputational. b) An independent auditor is responsible to present her services and opinions faire and according to accounting standards. The Auditor is required to
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