2007 resit - AUTUMN SESSION 2006/7 Examination for the BA(HONOURS ACCOUNTING AND FINANCE PATHWAYS BUSINESS SCHOOL OPTION FINAL YEAR 5B3030 AUDIT

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AUTUMN SESSION 2006/7 Examination for the BA (HONOURS) ACCOUNTING AND FINANCE PATHWAYS BUSINESS SCHOOL OPTION FINAL YEAR 5B3030 AUDIT AND ASSURANCE JOINT UNIT LEADER/AUTHORS: NEIL RODDA AND GRAHAM HOLT Date: Friday 7 th September 2007 Time: 9.30am 12.30pm Instructions Time allowed: 3 hours Answer TWO questions from Section A and TWO questions from Section B . All questions carry equal marks.
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1 SECTION A - Answer TWO questions ONLY from this section 1 Auditor independence is of paramount importance to the credibility of the auditing profession. Required Discuss the nature and importance of auditor independence and whether this can be achieved by: (i) Compulsory firm rotation (ii) Compulsory personnel rotation ( b) Greater use of Audit Committees in the audit process. Total 25 marks 2 Auditing standards require that audit evidence is sufficient, reliable and relevant. The origin of most legal actions against auditors results from a lack of sufficient, reliable and relevant evidence having been obtained before reaching audit conclusions. It has often been argued that little practical advice
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This note was uploaded on 10/24/2010 for the course ACCOUNTING INFS2005 taught by Professor Steven during the Three '10 term at Australian National University.

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2007 resit - AUTUMN SESSION 2006/7 Examination for the BA(HONOURS ACCOUNTING AND FINANCE PATHWAYS BUSINESS SCHOOL OPTION FINAL YEAR 5B3030 AUDIT

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