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To detect fraud or otherwise inaccurate accounting and financial statement information of a company, internally or externally. Auditors are a kind of watchdog for shareholder and consumer interests among corporations. Currently in the US, public companies are subject to adhering to Generally Accepted Accounting Principles (GAAP) in preparing financial statements (Auditors are responsible for making sure public companies are properly following GAAP). However, because of the global push for a universal and standardized set of accounting standards, the US (publically traded companies) will soon start using International Financial Reporting Standards (IFRS) instead of GAAP for financial reporting. The main objective of auditors, whether by IFRS or GAAP, is to investigate and ensure that publically traded companies' financial statements accurately portray what actually happened to the company and have been prepared using the accepted and lawful standards.
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What is the auditors objective for understanding an entitys business risks?
What is the auditor's objective for understanding an entity's business risks?Why does an auditor not have responsibility to identify or assess all business risks？
What are the objective of an auditor?
auditors analyze,investigate and control all the companies transactions..
Difference between internal and external auditor?
An internal auditor is one who is on staff at a company or business. The auditor checks to make sure all monies are accounted for, that the company's books balance and that there are internal controls on spending. An external auditor is one that is not a company employee and usually is an accountant from an outside accounting firm that does almost the same job as internal auditors. The main difference is that as an outside company, it can be more objective on its findings.
The objective of the ordinary examination by the independent auditor is the expression of an opinion on what?
The objective of the ordinary examination by the independent auditor is to express an opinion on the fairness and reliability of an entity's financial statements. This involves assessing whether the financial statements are presented in accordance with applicable accounting principles and free from material misstatement. The auditor's opinion provides assurance to stakeholders about the credibility of the financial information reported by the entity.
What does objective manner mean?
The phrase "objective manner" refers to a behavior pattern that is done without the influence of personal opinions. For example, an audit done in an objective manner doesn't take the opinions of the auditor into consideration.
Was lincolns main objective to save the union?
Yes, it was Lincoln's main objective.
What is the main objective of Levis company?
Jeans are the main objective of Levis company!
Why an independent auditor is asked to express an opinion on the fair presentation of financial statements?
An independent auditor is asked to express an opinion on the fair presentation of financial statements because a company may not be objective with respect to its own financial statements.
What is Alton towers' main objective?
The main objective of Alton Towers is to provide the nation with FUN!
Art nouveau's main objective?
art nouveau objective
Is words auditor means internal auditor?
No. The word auditor doesn't only mean an internal auditor but also an external auditor. An auditor could be an internal or an external auditor. In most cases simply an auditor means an external auditor.
Objective of Strategic Management?
Main objective of Strategic Management is to increase profitability
