Lecture_01_S22009 - Introduction to Course Accounting provides financial information for decision making control and accountability Assurance

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1 Introduction to Course Accounting provides financial information for decision making, control and accountability Assurance provides satisfaction as to reliability of provided information various levels (reasonable, limited) depending on nature and extent of procedures and objectivity of evidence Auditing provides assurance that accounting information is relevant, reliable, comparable and understandable
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2 Review Negative form of conclusion e.g. nothing has come to our attention Limited assurance engagement c Financial performance c Non-financial performance (e.g. efficiency/effectiveness) c Physical characteristics c Systems and processes (e.g. internal controls or IT) c Behaviour (e.g. Corporate governance compliance) Audit Positive form of expression of the conclusion Reasonable assurance engagement Common Subject Matter Example Engagement Type Type of Report Levels of Assurances Framework for Assurance Engagements
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3 Definition of Auditing c Service to provide reasonable (i.e. high level) assurance through issue of an opinion about an accountability matter
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This note was uploaded on 11/18/2010 for the course ACCT 3014 taught by Professor - during the Three '09 term at University of Sydney.

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Lecture_01_S22009 - Introduction to Course Accounting provides financial information for decision making control and accountability Assurance

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