Determine whether the information being audited is

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determine whether the information being audited is stated in accordance with the establish criteria. - oral testimony, written communication with outsiders, observations by the auditor, electronic data about transactions. JMS Feb 2018 Acc 3531 audit fundamentals
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Auditing Establish criteria - normally the accounting standards (financial statement audit) Communicating to users - audit report Competent and independent person - The auditor must be qualified to understand the criteria used - The auditor must be competent to know the types and amount of evidence to accumulate - The auditor must have an independent mental attitude JMS Feb 2018 Acc 3531 audit fundamentals
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Attestation vs. Assurance Attest services occur when a practitioner is engaged to issue a report on subject matter, or an assertion about subject matter, that is the responsibility of another party. Assurance services are independent professional services that improve the quality of information or its context for decision makers. JMS Feb 2018 Acc 3531 audit fundamentals
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Distinction Between Auditing and Accounting JMS Feb 2018 Acc 3531 audit fundamentals Accounting is the recording, classifying, and summarizing of economic events
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