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Objectivity - External Auditor Report
Many accounting figures are subjective and contain substantial terms of subjective judgment. Many more business transactions have financial effects which spread over many more years. Therefore decisions are to be made, as to the extent to such spending incurred in one year can reasonably be expected to create benefits in other years in the form of revenue. Therefore objectivity requires which accounts state externally verifiable changes than subjectively seems opinions. Therefore the accounts must be free from bias, since the creator of the accounts should not permit personal preferences to enter into their accounts preparation work. All activities are influenced through personal experience in practice and prejudice. One important thing is for the auditor to be aware of this and for him to be aware of the tendency also to bias in the all financial reporting.
Explain The Difference Between Internal Audit And External Audit? Ans) The internal audit is performed to help the management. The weakness of the management is disclosed
Q. Which of the following represents the largest number of common shares? a. Treasury shares b. Issued shares c. Authorized shares d. Outstanding shares
Auditor performs analytical work only at the end of the audit. Ans: I disagree with the statement because: i) Analytical work/procedures are used to obtain an understanding o
IAS 40 Investment Properties Audit work common to all kinds of land and building will be used to establish ownership, existence and price. IAS 40 requires such companies may a
Documentation of Representations by Management The auditor would ordinarily involve in audit working papers evidence of management's representations in form of a summary of or
I have some questions in ACL PROGRAME . IF YOU CAN HELP ME
Cash and Window Dressing - Building Society Cash Possibility of misappropriation and error usually accompany the handling of cash. Building societies transactions towards
the availability of audit evidence is necessary but not sufficient condition for absolute reliance on the figure presented for audit
Attempts at definition of the 'true and fair' view There following quotations represent authoritative views on the meaning of true and fair view. A true and fair view impli
Plant and Machinery - Valuation and Authorization Valuation Valuation is at depreciated historic costs. Auditor's duty is to make sure that the accounting policy for dep
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