Identify four important groups related to a client with whom the auditor may maintain professional relationships ? ● Management : refers coactively to individuals who actively plan . ● The board of directors and audit committee: of corporation is responsible for seeing that the corporation ● Internal auditors :close working relationship ● Stockholders : on audit financial statement Question (2 (: Question (3 (:
How may the typical approach the auditor should take toward management’s assertions be characterized ? The auditor recognizes the need to objectives evaluate and evidence . What is an audit committee , what is its ideal composition ? The board, or a designated Audit committee is composed exclusively or primarily of outside members of the board , can serve as an intermediary between the auditor and management . What are the function of audit committees ? Nominating the public accounting firm to conduct the annual audit . Discussing the scope of the audit with the auditor .
- Fall '16