audit and asurance assignment - Introduction In this essay,...

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Introduction In this essay, we are going to examine the auditor’s role in respect to the services provided by auditors. Auditors tend to work on the ethics and standards put forward by the standard bodies in order to make sure the work carried by auditors provides true and fair value of the company. In order for them to be able to carry out their task properly auditors needs to be independent. We are going to discuss this in the light of how the internal and external audits practices carried out by auditors could affect auditor’s code of ethics. We need further discuss how the new developments are emerging in the audit field and whether this development is having any negative effects on auditors’ ethics. Auditors Independence One of the most important tasks of auditor is being independent. In order for the audit carried to be successful, the auditor must be of a third party, checking the accounts to make sure they provide true and fair value of the company. After checking, the company accounts in respect to the standards set by APB, auditors give their verdict in the form of professional opinion. The meaning of the auditor’s independence is that when they are preparing audits their mind should be free and they should only concern themselves with the job in hand. According to, http://www.icaew.com/index.cfm/route/111382/icaew_ga/en/Technical_and_Business_Topic s/Topics/Ethics/Auditor_Independence_General_for_APB_Ethical_Standards_see_separate_ note One of the largest Accounting bodies’ website, has given the fundamental principles of what auditors needs to do in order to be independent. One of the most important codes for auditor is “integrity” and “objectivity.” The meanings of integrity here is that auditors work with
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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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audit and asurance assignment - Introduction In this essay,...

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