StudentShare solutions
Triangle menu

The role of an Auditor and Audit Firm - Essay Example

Free

Extract of sample
The role of an Auditor and Audit Firm

Apollo Shoes can also benefit from an external audit of their financial statements. We as the external auditor employ a process that first begins with a wide understanding of your corporate entity or business. Secondly, we consider risks faced by your company, the risk control measures employed by the management and the level of transparency during reporting of findings to stakeholders (Moeller & Robert, 2004). The core elements are the capabilities to adapt consistently to business expansion and dynamic needs, proactive recognition of issues and timely, cooperative resolution- involving management all through the process. Furthermore, our company utilizes a universal audit methodology on all audit practices not considering the location in order to achieve consistency and uniformity in approach. Our firm also has continuous and persistent commitment to continuous expansion. ...
Thus, in so doing adding not only cost but also real value to your company. We offer advice, support, and regulatory services to assist organisations carrying out regulator- controlled activities to handle regulatory risks in an environment that is ever- changing. Our firm aims at employing a proactive as opposed to a monitoring approach as part of its strategic necessity. In addition, our firm will also conduct Apollo Shoes systems and process assurance service. In the modern- day business world, financial reporting and IT environments are increasingly becoming complicated as increased dependence is placed on the

Related Essays

The Role of the audit committee
usiness is controlled, reporting on and conducted”. The audit committee is a link between the auditor and the board of directors. They are concerned with selection of auditors, financial control; and determining how the audit will be done and also about the audit results (Spira, 2002).
3 pages (750 words) Essay
AUDITOR INDEPENDENCE AND AUDITOR SCEPTICISM
Specifically, the responsibilities of an auditor involve the full participation of the professional to identify the indication of inefficiency and ineptness in the financial statement of an organisation and confront receptive issues related to the inefficiency.
8 pages (2000 words) Essay
Recommendation Brief for an Internal Auditor
This paper intends to convince a client about the benefits of using an internal auditor. Functions of an Internal Auditor An internal auditor has an objective of assisting “all members of management in the effective discharge of their responsibilities, by furnishing them with analyses, appraisals, recommendations and pertinent comments concerning the activities reviewed” (Ridely, 2008, p.9).
3 pages (750 words) Essay
Provision of Non Audit Services by the Auditor to the Audit Client Is a Threat to Auditors' Independence
Literature Review 4 2.1 Non Audit Services of Auditors 4 2.2 Threat to Auditor’s Independence 5 2.3 Comparison between Non Audit Services and Other Threats to Auditor’s Independence 6 2.4 Effective Means of Strengthening Auditor Independence 8 3.Data Collection 9 4.Findings 9 5.Conclusion 10 References 11 1.
6 pages (1500 words) Essay
The Role of Audit Committee
The focus here could be on audit committee and its role in corporate governance or even the role of audit committee as it relates to financial projection of companies and government expenditure and the audit committee whether in private or public sector could be primary or central to the financial reporting of a company and is an essential part of maintaining open and transparent financial systems within any firm.
17 pages (4250 words) Essay
Auditor Independence
It can be clearly seen that if audit is to be carried out in free and objective manner the auditors must be independent in fact (actual independence) and if their opinions are to be accepted auditors must also appear to be independent. Corporate world has time and again been rocked by scandals and sudden failures, of these, Enron & World Tel are considered water shed cases due to the sheer size of their failure.
4 pages (1000 words) Essay
DOES AUDIT REGULATION ENSURE AUDITOR INDEPENDANCE
The Ethics Committee of the International Federation of Accountants has also highlighted the notion of independence as an ethical subject in its principles
40 pages (10000 words) Essay
Discuss the arguments for and against compulsory audit firm rotation and also for and against a total ban on audit companies(by which is meant firms of accountants) carrying out non-audit services
scandals of Enron and World Call in the early 20th century which involved the audit firms as accomplices of corruption and frauds the audit firms’ role and responsibilities have come under huge question. People all over the globe have started to ponder on the pros and cons of
7 pages (1750 words) Essay
Provision of non audit services by the auditor to the audit client is a threat to auditors' independence. Evaluate the seriousness of this threat compared with other threats to auditors' independence and identify the strengthening auditors'
Accounting scandals such as Enron of the United States as well as HIH Insurance of Australia have created doubts regarding auditor’s independence and the value of their audit. The familiarity that is
6 pages (1500 words) Essay
The audit framework
Role of the auditors towards the society is explained and enhanced so as to realize the auditor their importance and value to the environment. By enhancing the quality,
12 pages (3000 words) Essay
data emanating from these processes and systems (Moeller & Robert, 2004). Furthermore, numerous countries have new regulations putting more stress on internal controls and habitually need autonomous assurance of the efficiency of internal controls. In order to achieve timeliness and accuracy of management decision- making and financial reporting information, of vital importance is documentation, attention to detail, and controls operation. Through our continued professional service and relationships with our clients, we offer third party assurances as a critical component of our auditing process. This is in line with the changes in business environments, increase in demand for transparency and trust as companies depend further on other companies to meet their corporate goals (Maletta, 1989). During the current tough and volatile economic times, obtaining a competitive edge and being confident in your processes, controls, procedures are business necessities. Companies must develop innovative methods to increase efficiencies while lowering costs to

Summary

The Role of an Auditor and Audit Firm Letter to Apollo Shoes Name University Course Tutor Date To Apollo Shoes We Kantha Audit firm offer various services to our clients such as internal audit services. There has been a drastic change in the role played by internal audit due to increased globalization, economic conditions, and emerging risks (Braiotta, & Braiotta, 1994)…
Author : mikelrunte
The role of an Auditor and Audit Firm essay example
Read Text Preview
Comments (0)
Rate this paper:
Thank you! Your comment has been sent and will be posted after moderation