Unformatted text preview: s assertion. Before going on, stop and think for
a moment about how the house inspection example might relate to a ﬁnancial
TABLE 1–1 Important Characteristics of House Inspectors and Inspections Desirable Characteristics of House Inspectors
• Competent—they possess the required training, expertise, and experience to evaluate the property for sale.
• Objective—they have no reason to side with the seller; they are independent of the seller’s inﬂuence.
• Honest—they will conduct themselves with integrity, and they will share all of their ﬁndings with the buyer.
• Skeptical—they will not simply take the seller’s assertions at face value; they will conduct their own analysis and testing.
• Responsible and/or liable—they should stand behind their assessment with a guarantee and/or be subject to litigation if they fail to act with due care.
Desirable Characteristics of a House Inspection Service
• Timely—the results of the service are reported in time to beneﬁt the decision maker.
• Reasonably pr...
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This note was uploaded on 12/08/2012 for the course ACCT 564 at Washington University in St. Louis.