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Has the auditor lost its relevance as a profession?
Finance & Accounting
Pages 6 (1506 words)
Has the auditor lost its relevance as a profession? Table of Contents Table of Contents 2 Introduction 3 Historical background 3 Methodologies 4 Previous studies on the topic 5 Mainstream versus alternative viewpoints 6 Principle questions being asked 6 General conclusions drawn from literature review 7 References 9 Introduction The review has been carried out on the relevance of auditing as a profession on the context of increasing financial scams involving financial disclosure of companies.
The secondary data sources have been used to study the previous studies and the empirical literature on the incompetency of the auditors and the adverse consequences faced the public due to their irresponsible activities. The literature review then assesses the justification of the expenses incurred for the purpose of auditing and the value that has been added as a result of auditing activities. The questions asked on the relevance of auditing function, mainstream and the alternative viewpoints on the topic have been reviewed. The recommendations on the ways of adding relevance to the auditing profession have also been included in this study. Historical background The auditors and their functions of auditing have never in such a limelight as ever before. The occurrence of the global financial crisis has raised concerns in the US, UK, Belgium, Singapore and in many other countries of the effectiveness of the auditing profession in the industry. The economic debacle exposed the inefficiencies in the auditing practices conducted by the auditors. ...
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