Reference no: EM132974159
Questions
1: How does ethics apply to auditors?
2: Identify the five types of ethical threats to professional independence and give a specific example of each.
3: What are the main ways in which the profession ensures the quality of audit services?
4: Describe what is meant by independence in mind and Independence in appearance.
5: Discuss the safeguards which would eliminate or reduce the threat to independence created by providing non-assurance services.
6: Discuss the key factors attributable to the increase in professional indemnity insurance, and the impacts this has had.
7: How did the key principles of 'due care' develop through the Kingston Cotton Mill Co. case, the London and General Bank case, and the Pacific Acceptance case"
8: The Esanda case established the elements that would be necessary for a third party to succeed in an action of negligence against the auditor due to reliance on the audited accounts. Identity what these elements are.
9: Discuss some of the legal reforms in relation to audit legal liability which have been implemented in Australia.
10: What is a privity letter? How should the auditor respond to a request for a privity letter?
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How does ethics apply to auditors
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