The most serious consequences stemming from such a misunderstanding are that the independent auditor can quickly be portrayed as the force that represents all good in financial accounting and the guarantor of anything positive anyone wants to feel about a given company.
1. Why is public accounting often viewed as a guarantor of results or even as a provider of assurance that one's investment is of high quality?
2. To what extent is it reasonable to view the auditor as a guarantor? Explain.
3. How does the auditing profession work to create or communicate a reasonable set of expectations that users should hold?
4. To what extent do you believe that user expectations of the public accounting profession appear to you to be unwarranted? Explain.
Recently Asked Questions
- Please refer to the attachment to answer this question. This question was created from Chapter 10.
- Need help with this, does not understand need a example of this one HOW we can help children and use this lens to create new roles in new settings. Examples
- Please refer to the attachment to answer this question. This question was created from Lecture 3 Tutorial Questions.pdf.