What is the assurance service

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Question 1) Explain in your own understanding, what is the "assurance service"? What exactly are the daily tasks of an auditor during an audit engagement?

Question 2) Explain the relationship among the three parties within an audit engagement: the auditor, the client and the public. What makes it difficult to balance the rights, benefit and responsibilities among these three parties?

Question 3) Why is adequate planning so important in an audit? What are some of the considerations for auditors in choosing whether to audit a client?

Question 4) What are the 8 audit evidence gathering methods? Roughly estimate the order of highest to lowest costs in-term of conducting these procedures. Explain your reasonings

Reference no: EM132567964

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