Here are Fundamental principles of ethics described by ACCA to be followed by all ACCA members, Students must be memorized all of them, this can be tested straightforward and in MCQ’s in CBE. AA & AAA 5 Fundamental principles of ethics described by ACCA Integrity The auditor should be straight forward & honest in all…
Appointment Removal & Role Of An Auditor Appointment Removal & Role Of An Auditor. an auditor is a compulsory requirement for all companies to operate in the majority all over the world. So here are a few rules… The Auditor’s duties Fundamental duties are to: – An opinion that shows whether the financial statements give…
What is assurance & Types of Assurance Engagement What is Assurance Engagement: Assurance Engagement Definition: Any assignment/engagement which has five elements(Below) becomes an assurance engagement Five Elements of an Assurance Engagement An assurance engagement will require a three-party relationship comprising: a) The intended user who is the person who requires the assurance report (Share Holders,…
True and Fair presentation Definition Financial statements are produced by the Board of directors which give a true and fair view of the entity’s results. The auditor in reviewing these financial statements gives an opinion on the truth and fairness of them. Although there is no definition in the International Standards on Auditing of true…
Analytical Procedures in Audit In audit Analytical Procedures that seek to provide evidence as to the completeness, accuracy, and validity of the information contained in the accounting records or in the financial statements. Analytical Procedures consists of the systematic study and comparison of relationships among elements of financial information and the investigation of significant fluctuations and…
Audit planning ( Audit Strategy and Audit Plan) Importance of audit planning It helps the auditor to devote applicable attention to big areas of the audit. It helps the auditor spot and resolves potential issues on a timely basis. This helps the auditor to properly organize and manage the audit engagement so it’s performed in…
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