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TO ENSURE THE FINANCIAL STATEMENTS GIVE A TRUE AND FAIR VIEW
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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.
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.
Who is is the independent auditor for exxon?
From Exxon's official webpage states: "Independent, registered auditors PricewaterhouseCoopers LLP..." So, PWC is the auditor.
Why do auditors need accounting information?
Auditors need accounting information because their job is to compile the information and make sure it is accurate. Auditors make sure the numbers add up which is extremely useful information to know.
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.
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.
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.
Who is is the independent auditor for exxon?
From Exxon's official webpage states: "Independent, registered auditors PricewaterhouseCoopers LLP..." So, PWC is the auditor.
Why do auditors need accounting information?
Auditors need accounting information because their job is to compile the information and make sure it is accurate. Auditors make sure the numbers add up which is extremely useful information to know.
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.
Do government auditors have to be independent?
The auditor and his/her firm must be free, in both fact and appearance, from all types of impairments of independence
Why is it difficult to perform a truly indpendent audit?
It is difficult to perform a truly independent audit because auditors will have their own biases. Also, auditors are paid by someone and may feel inclined to provide reports that favor the one paying them.
What is new payscale for auditors in defence?
auditors remuneration
What has the author Henry R Jaenicke written?
Henry R. Jaenicke has written: 'Survey of present practices in recognizing revenues, expenses, gains, and losses' -- subject(s): Accounting, Realization (Accounting) 'The effect of litigation on independent auditors' -- subject(s): Auditors, Legal status, laws
