Auditing: A Case Study

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The basic objective for auditing is to prove the truth and fairness of results presented by business organizations. Auditors are requisite to carry out their audit work with an attitude of professional scepticism, professional judgment and fulfil with ethical requirements. Professional scepticism can be define as an attitude with questioning mind and always being alert to conditions which may cause possible misstatement (Mark W.Nelson, 2009). Moreover, professional judgment means a practice that is used to stretch out a reasonable conclusion based on given relevant information and situation of the environment (Moore, 2009). Furthermore, under ethical requirements, auditors are required to comply five essential principles which include straightforward…show more content…
Generally, analysing or evaluating on financial situation acts as an important part to determine financial strategy in order to achieve the goal of a business organization, it gives a benchmark for measuring the performance of the business for the period under supervised. Auditing is a practice that has shifted many years in the business era, this practice does not only look at the outer part of the business but concerns about assessing the internal financial status of a business and compare with the picture presented to the public (Manal, History of Auditing). The primary objective of auditing as well as the role of auditor is to examine the accuracy of the information and statements…show more content…
During the administration of British Colonial Government, Brunei Darussalam Department of Audit, which is known as “Jabatan Audit Brunei Darussalam” was set up in 1935. The Supreme Audit Institution (SAI) of Brunei Darussalam was established on the basis of law and it has the authority to audit all the entities owned or managed by the Royal Government and audit the finance of the Royal Government. It has the authority of asking all financial records of institutions or organization according to its obligation. Although it has no authority to seal, but can request for documents or other things like supporting documents or proof which considered necessary for its audit task. The Brunei Darussalam SAI also has the authority to find evidence from professionals and work together with those related to the audit task according to the audit act (ASEANSAI
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