External auditor Essays

  • Resolving Audit Issues Case Study

    1164 Words  | 5 Pages

    Resolving Audit Issues One of the experts noted that auditors fail to effectively pass on information within the audit team. A lower-level auditor may identify information such as a transaction that may indicate fraud exists but then not effectively share the information with someone with the expertise to identify it as a fraud cue. Two experts indicated deficiencies in resolving issues that arise with one noting that auditors fail to effectively resolve issues and conflicts with the client. Conclusion

  • Fraud Triangle Case Summary

    1797 Words  | 8 Pages

    statement as the information of company condition should be reflect the about its real condition. As auditor has an important role to detect fraud and give reasonable assurance that financial statement free from material statement. As write on above, financial statement should reflect the real condition of the entity. In nowadays, there’s a lot of accounting scandal included top management and auditor. From the research which is done by ACFE (Association of Certified Fraud Examiner) on more than 100

  • Professional Scepticism In Auditing

    860 Words  | 4 Pages

    Professional scepticism is an important part of auditing as it necessitates the auditor exercising their qualified judgement in dealing with occurrences and circumstances of a countless number. (Auditing and Assurance Standard Board, 2012). Since the global financial crisis, there has been increasing importance placed on applying professional scepticism and many auditors have been criticised for not using scepticism in their valuation and assessments of factors like going concern issues, fair value

  • Internal Audit Critical Analysis Essay

    1080 Words  | 5 Pages

    which creates risks for the organization. Henceforth, comes in the auditors responsibilities to carry out their relevant procedures with the documentations provided by the Management to gather information on how strong the organizations internal control system has minimized the fraudulent activities. The independence of the Internal Auditor therefore, is most important in the case

  • Internal Audit Analysis

    1572 Words  | 7 Pages

    of an audit in accordance with generally accepted auditing standards. AICPA (2002) states that independence can be generally defined as freedom from dependence on, or influence or control by another person, organization, or state. For internal auditors, independence is the freedom from conditions that threaten the ability of the internal audit activity or the chief audit executive to carry out internal audit responsibilities in an unbiased manner. Without independence, internal audit simply becomes

  • Westpac Case Study

    774 Words  | 4 Pages

    the outline for which has been approved by the Board Audit Committee External Audit • Our external auditor is PricewaterhouseCoopers (PwC) • Provide an independent opinion that our financial reports are true and fair, and comply with applicable regulations. • Strict relationship with PwC, including restrictions on employment, business relationships, financial interests and use of our financial products by the external auditor. • Requirements

  • External Auditor Independence: The Importance Of External Auditor Independence

    1072 Words  | 5 Pages

    1.0 The Meaning of External Auditor Independence and The Importance of External Auditor Independence 1.1 Meaning of external auditor: The role of auditing is divided into two, namely internal audit and external audit. Internal audit works in a company organization and reports to committees or directors. They assist in company development and risk management within their company. They ensure that risk management runs effectively. Internal audit tends to persist and revolutionize the system within

  • Advantages And Disadvantages Of Human Computer Interaction

    1746 Words  | 7 Pages

    Abstract As the world continues to develop, technology continues to evolve and more people try to engage themselves into this technology. Many have established good interaction between these technologies but others have bad interaction in to this technology. This paper aims to show the different causes why there are good and bad interaction and can this interaction can affect the work and quality especially in business factors. Interaction serves building blocks to have a good quality of output in

  • International Professional Practices Code Of Ethics

    899 Words  | 4 Pages

    association. Mark must pick whether to forbid results and abuse the Institute of Internal Auditing's Code of Ethics or conflict with his organization and report his findings. 2 The objectivity principle rule of conduct 2.1 violated that is “internal auditor shall not participate in any activity or relationship that may impair or be presumed to impair their unbiased assessment. This participation includes those activities or relationships that may be in conflict with the interests of the organization”

  • Academic Calendar Shift Essay

    1071 Words  | 5 Pages

    Academic Calendar Shift An academic calendar is a timetable that has the dates of university events. It is the annual schedule of an academic institution. It runs from June to March in the Philippines. The academic calendar shift is changing the opening of classes from June to August. Calendar shift should be applicable to flood prone areas only because June to August are rainy months, resulting in suspension of classes, increased sickness among children and it impedes the implementation of curriculum

  • Cocoa Export Essay

    7466 Words  | 30 Pages

    CHAPTER ONE: INTRODUCTION The aim of the research is to study determinants of Malaysia’s cocoa export. This part will includes background of the study, objectives of study, scope of study, limitation of study and significance of study 1.1 Background of Study Growth in demand for chocolate during the twentieth century becomes a reason for increase in global demand for cocoa. Not only that, other factors that encourage demand for cocoa are due to the rise in per capita income and also populations

  • Accounting And Business Ethics: Enron's Scandal

    1658 Words  | 7 Pages

    accounting is fairly simple, that is to measure that the portrait the company’s accountants’ paint in the financial statements is as accurate as possible (Ronald Duska, Brenda Shay Duska and Julie Ragatz 2011). In the financial statement audit, the auditors are assigned to assure that the financial statements provided by the management

  • Reason For Audit Failure Analysis

    1223 Words  | 5 Pages

    for the purpose of credibility for external users of information. However, in recent times, we have seen audit failures that instead of increasing reliability of consumers have failed to accomplish what audit committees and boards stand for and instead have been confronted with a crisis of confidentiality and confidence. Audit failure occurs when there is a serious distortion of the financial statements that is not reflected in the audit report, and the auditor has made a serious error in the conduct

  • Essay On Auditor Skepticism

    825 Words  | 4 Pages

    It is important to the external auditors to maintain skepticism and professional due care in doing auditing. However, the level of skepticism of an auditors should not be decreased even though the level of fraud risk in the management was assessed to be low. If auditors have less skepticism and suddenly fraud was found in the management, hence it will caused auditors to do more audit procedures that is mean more costs to incur. Therefore, we recommend that, every auditors need to maintain their skepticism

  • Auditor Independence: Case Study

    843 Words  | 4 Pages

    Auditor Independence Auditors provide independent third-party opinion on the financial statements of a company. The independence of these auditors must be safeguarded during each engagement. The reliability and validity of an opinion rely on the independence of the auditor. There are times when the independence of the auditor is interfered with by malicious parties to safeguard with their own interests. Auditor independence can be referred to as the lack of hidden agendas and personal interests among

  • 1.4 Qualitative Factors Analysis

    1414 Words  | 6 Pages

    of this, its relevance and reliability in providing support for, or detecting misstatements in, the classes of transactions, account balances, and disclosures and related assertions. When assessing risks and designing further audit procedures, the auditor should consider the sufficiency and appropriateness of audit evidence at the same time. The quantity of audit evidence needed is affected by the risk of misstatement (the greater the risk, the more audit evidence is likely to be required) and also

  • Walt Disney Corporate Governance Case Study

    874 Words  | 4 Pages

    Introduction Corporate Governance has become a controversial topic among general public. This project discuss about the various theories and issue in governance of Walt Disney and suggesting areas of improvement which could be relevant for Walt Disney. Part A: Describe the various theories of Corporate Governance There are various types of theories in corporate governance, however there are 3 theories which are commonly applied: 1. Agency Theory There are 4 major concepts which are important in

  • Audit Information System Audit

    1602 Words  | 7 Pages

    infrastructure, policies, regulations, and operational functions. Thorough examination with the use of IT audit allows assessment of system’s internal controls and provides assurance that statements are error-free and reliable. Proper use of IT audit help auditors in determining the corporate assets, data to be effectively aligned with the overall terms and goals of the business in terms of CIA (confidentiality, integrity, and availability). One of the key factors in IT auditing and one that audit management

  • Ethical Issues In Auditing

    1806 Words  | 8 Pages

    communicating the results to interested users. Whereas, auditors are the person who conducts the auditing procedures to obtain reasonable assurance that the financial statement are free from material misstatement, whether cause by the fraud or error. Although ISA 240 recognized that the auditor may fail to detect material misstatement caused by fraud as the financial statement is well concealed and embedded, but it still does not exclude auditor from detecting fraud (Hasaan, 2013). Besides, it also

  • Professional Skepticism In An Audit

    1174 Words  | 5 Pages

    examiner. Professional skepticism is when someone has a questioning mind that involves a critical assessment and analyzes of audit evidence. It is primordial for an auditor to exercise professional skepticism when conducting the audit of financial statements. In other words, an auditor must refer to quality and credible reference. The auditor needs to question every aspect of the data presented or words that management is feeding them in order to achieve reasonable assurance about the conclusiveness of