Solution-Outline the major revisions to the auditing

Outline the major revisions to the auditing standards

Assignment Help Auditing

Reference no: EM13490514

Audit Clarity Project

The Clarity Project involved the International Auditing & Assurance Standards Board (IAASB) reviewing and reissuing all its standards to improve the clarity of wording and make their application more consistent. Subsequently the Australian Auditing & Assurance Standards Board (AUASB) has adopted this work and reviewed all existing ASAs. The complete new set of revised ASAs was issued and became legally binding in October 2009.

Required:
Outline the major revisions to the auditing standards and discuss their implications for auditors conducting audits. (Approx 1,000 words essay response)

You should review the relevant parts of the following resources in your research:
• Website: The Institute of Chartered Accountants in Australia (ICAA)
Available from: https://www.charteredaccountants.com.au

• Website: Australian Auditing & Assurance Standards Board
Available from: https://www.auasb.gov.au

• Prescribed subject text: Modern Auditing & Assurance Services by Leung, 5th edition

Reference no: EM13490514

Questions Cloud

Compute the velocity of the second log : A lumberjack (mass = 98 kg) is standing at rest on one end of a floating log (mass = 290 kg) that is also at rest. Determine the velocity of the second log if the lumberjack comes to rest on it

How far does the rock travel before striking the water : a girl throws a rock horizontally with a velocity of 10 m/s from a bridge. It falls 20 m to the water below. how far does the rock travel before striking the water

Prepare a report to the cfo of electribolt ltd : Projected turnover includes a conservative estimate of the additional electricity that ElectriBolt could generate and supply, assuming it acquired control of the operations. Operating costs exclude annual supply licence payments due by PowerSmart ..

Determine the final charge on each object : Four identical metallic objects carry the following charges: +5.4 µC, +5.4 µC, -7.0 µC, and -1.6 µC. What is the final charge on each object

Outline the major revisions to the auditing standards : Outline the major revisions to the auditing standards and discuss their implications for auditors conducting audits. (Approx 1,000 words essay response)

What pressure do they exert on the wall : The mass of the H2 molecule is 3.3x10-24 g. If 1023 hydrogen molecules per second strike 2.0 cm2 of wall at an angle of 45° with the normal when moving a speed of 105 cm/s

Analysis and comparison of the income statement items : Find the financial statements for 2 related companies and calculate the following ratios for each; current ratio, acid test ratio, debt ratio, equity ratio, acct receivable turnover, days sales uncollected, inventory turnover, days sales in invent..

How much work was done on the wheel : The angular momentum of a flywheel having a rotational inertia of 0.125 kgm2 decreases from 3.0 to 2.0 kgm2/s in a period of 1.5 s. How much work was done on the wheel

What is the magnitude of the frictional torque : A net torque of 36N*m acts on a wheel rotating about a fixed axis for 6 s. During this time the angular speed of the wheel increases from 0 to 12 rad/s. What is the magnitude of the frictional torque

User Account

All Pages

Outline the major revisions to the auditing standards

Reference no: EM13490514

Reference no: EM13490514

Questions Cloud

Reviews

Write a Review

Auditing Questions & Answers

Internal audit

Accounting professional and ethical standards

Prepare swag''s consolidated balance sheet

Auditing and assurance

State of the company’s industry and associated risk factors

Prepare a memo to the audit partner

Adjusting or non- adjusting events

Audit financial data

Identify principal audit risk

Auditing and assurance

National health reform

Prepare a memo on the state of the company''s industry

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT