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International Financial Reporting Standards Essay

772 Words4 Pages

Public Accountant has responsibility to present the trustworthy and accurate financial reporting based on the existing standards in preparing financial reporting. By presenting the accurate and trustworthy financial reporting, public accountant or auditor could gain a good reputation and trust from public, client, and the shareholders. Shareholders and public need to know the financial condition of the entity or organization’s through the financial reporting and opinion presented by public accountant in order to decide whether they will invest to the entity or organization or not. The financial reporting should be prepared based on International Financial Reporting Standard (IFRS). International Financial Reporting Standard (IFRS) is the guidance for auditors in preparing financial reporting. Jatmika (2011) stated that the needs of Public Accountant services as independent parties forces auditors to increase the performance qualities so it can produce a quality audit product for the needed parties. Public and related parties’ trust will increase to the quality of public accountant services if the profession is done by showing high standard and fulfilled all the needs.
The Majority entities and organizations that need …show more content…

Auditors must independent with their opinion and findings, they should be able to defending their opinion without getting sway or controlled by other parties. Auditors also need to be competent in performing the duty. The capability of auditors in find and detect mistakes or errors also determine the amount and types of mistake, having the knowledge of what and how the errors could be happened, and reporting the errors or mistakes. Ayungnintyas and Pamudji (2012) stated that competency is needed qualification for auditors to performing audit accurately so it will have positive affect to audit quality. Hence, this research is done to answer these following

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