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What is the responsibility of independent auditors?
The primary objective of independent auditors are rendering opinion report on the financial statement that is the responsibility of client management. The main reason auditors need to be independent are to provide credentional for the client prepared financial statements. Therefore, the users (Bankers, Investers and third party) of the financial statement can have unbiased information about the client financial Statements.
Do the independent external auditors audit the entire annual report?
Auditors should express independent opinion on every information presented by the company to the the users (may be public, suppliers, SARS, shareholders ect)
An independent accountant who performs financial audits is a?
An Independent accountant who performs financial audits are called "External Auditors".
How can internal auditors have an independent mental attitude when they are employed by the company they audit?
Internal & External auditors has difference in scope of their work and that's why different independence levels are expected from both of them as external auditors are the auditors who has to provide their independent opinion regarding the financial statements of any company, they are required to display independence from the management of company while giving opinion about fair activities. On the other hand internal auditors are the auditors who are appointed by the top management of the company to prepare and implement the risk assessment measures and to keep an independent eye on the overall operations of company that's why they are independent from operations of company and directly reportable to top management of company like shareholders auditor board etc so in this sense they are also somewhat independent from company as well.
Why do auditors need to be independent?
If an auditor works for the company they are auditing (the most obvious case), the likelihood that the audit will be an honest one is slim. Even when they aren't that closely tied, the same goes for auditors that have any similar monetary interests or family ties. Independent auditors are less likely to be bribed or corrupt.
Why auditors need to be independent?
TO ENSURE THE FINANCIAL STATEMENTS GIVE A TRUE AND FAIR VIEW
Who is is the independent auditor for exxon?
From Exxon's official webpage states: "Independent, registered auditors PricewaterhouseCoopers LLP..." So, PWC is the auditor.
Who are independent auditors of shoprite?
As of my last knowledge update in October 2023, the independent auditors for Shoprite Holdings Ltd. are typically a well-known global accounting firm. However, for the most current information regarding their auditors, it's best to refer to Shoprite's latest financial statements or official announcements, as auditor appointments can change periodically.
Who is the independent auditors for macy's?
As of my last update, the independent auditors for Macy's, Inc. are Ernst & Young LLP. Auditors are typically appointed by the company's board of directors and are responsible for reviewing and verifying the accuracy of the company's financial statements. For the most up-to-date information, it's best to check the latest annual report or the company's official website.
How do you use auditor in a sentence?
"I wish I knew how to use auditor in a sentence!"
Why must a public company have an external auditors?
External auditors are required to ensure there is no fraud (hanky panky) going on in the company. If you run a company that are check by your own employees, you cannot be certain that the checks are neutral. External auditors are independent parties who provide a realistic and impartial view into the company's conduct.
What is government auditing?
Government audit is process of auditing of government organization's account by government auditors. Government auditing is carried out to assess the performance of public accountability by government entities.
