Objectivity - external auditor report, Auditing

Assignment Help:

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.


Related Discussions:- Objectivity - external auditor report

Litigation and claims, Litigation and claims ISA 501 Audit Evidence -...

Litigation and claims ISA 501 Audit Evidence - Additional Consideration for exact Items requires such auditors should carry our process to become aware of any material litig

Balance sheet and income statement, OBJECTIVES To apply certain st...

OBJECTIVES To apply certain steps in the audit planning process, with emphasis on risk identification and audit response (strategy) thereto. To provide you with the exp

Statutory audit of bank, what are the things we need to check in statutory ...

what are the things we need to check in statutory audit of bank?

Why audit of procurement is considered important, The Department of Higher ...

The Department of Higher Education (DoHE) in the Ministry of Education awarded a contract for support of 60 computers to My IT Co. Ltd. and the contract conditions required the del

Computation of significant ratios, Plz assist me with these questions Th...

Plz assist me with these questions The auditors for Weston University are conducting their audit for the fiscal year ended December 31, 2011. Specifically, the audit firm is now

Auditing, Please assist me with these assignments The auditors for Weston U...

Please assist me with these assignments The auditors for Weston University are conducting their audit for the fiscal year ended December 31, 2011. Specifically, the audit firm is n

Internal controls and process improvement, how do internal controls affect ...

how do internal controls affect or improve the goals of a bussiness firm

Buyers - disclosure and presentation, Buyers - Disclosure and Presentation ...

Buyers - Disclosure and Presentation This case (case of Aluminium Industries vaassen B V v. Romalpa Aluminium Ltd) are simply relevant whether creditors involve a material amo

Audit of inventories, Examine consignment agreement s and contracts

Examine consignment agreement s and contracts

Counter - indications, Counter - Indications That the auditor has foun...

Counter - Indications That the auditor has found indications of going related to non-applicability does not of itself justify instantly conclusion that the entity is not a goi

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd