Get premium membership and access questions with answers, video lessons as well as revision papers.
•• To promote compliance with professional standards and other technical pronouncements.
•• To provide reasonable assurance to users of financial statements that professional standards have been complied with in performance of audit and related services.
•• To promote uniform application of generally accepted methods of professional practice.
•• To gain increased user confidence in the reliability of audited financial statements.
•• To establish a mechanism of continuous quality improvement in professional practice and a self regulatory framework for policies and procedures.
•• To enhance the status and image of accounts to the public through assurance of compliance and quality in performance of audit and related services.
•• To help ensure that auditors are competent and independent and to identify potential problems in this regard at an early stage for necessary corrective actions.
•• To help identify weaknesses in the audit process and provide technical assistance for professional development.
Wilfykil answered the question on April 11, 2019 at 10:22
- Discuss quality control policies and procedures at individual audit level(Solved)
Discuss quality control policies and procedures at individual audit level
Date posted: April 11, 2019. Answers (1)
- Define quality control in auditing(Solved)
Define quality control in auditing
Date posted: April 11, 2019. Answers (1)
- Which are the audit planning procedures?(Solved)
Which are the audit planning procedures?
Date posted: April 11, 2019. Answers (1)
- Which are the problems in developing and implementing audit plan?(Solved)
Which are the problems in developing and implementing audit plan?
Date posted: April 11, 2019. Answers (1)
- What is an audit planning memorandum?(Solved)
What is an audit planning memorandum?
Date posted: April 11, 2019. Answers (1)
- Give advantages of good audit planning(Solved)
Give advantages of good audit planning
Date posted: April 11, 2019. Answers (1)
- Give the disadvantages of the audit committee(Solved)
Give the disadvantages of the audit committee
Date posted: April 11, 2019. Answers (1)
- Give the advantages of the audit committee(Solved)
Give the advantages of the audit committee
Date posted: April 11, 2019. Answers (1)
- What is the relationship between the audit committee and the board of directors?(Solved)
What is the relationship between the audit committee and the board of directors?
Date posted: April 11, 2019. Answers (1)
- What is the relationship between the audit committee and the internal audit function?(Solved)
What is the relationship between the audit committee and the internal audit function?
Date posted: April 11, 2019. Answers (1)
- Which are the attributes of audit committee members?(Solved)
Which are the attributes of audit committee members?
Date posted: April 11, 2019. Answers (1)
- What are the objectives of the audit committee?(Solved)
What are the objectives of the audit committee?
Date posted: April 11, 2019. Answers (1)
- Which are the principles of good corporate governance?(Solved)
Which are the principles of good corporate governance?
Date posted: April 11, 2019. Answers (1)
- Discuss what the resignation letter of an auditor must contain(Solved)
Discuss what the resignation letter of an auditor must contain
Date posted: April 11, 2019. Answers (1)
- Give situations where the auditor’s independence may be impaired.(Solved)
Give situations where the auditor’s independence may be impaired.
Date posted: April 11, 2019. Answers (1)
- Discuss Professional Ethics in auditing(Solved)
Discuss Professional Ethics in auditing
Date posted: April 11, 2019. Answers (1)
- Which categories does auditor’s liability fall under?(Solved)
Which categories does auditor’s liability fall under?
Date posted: April 11, 2019. Answers (1)
- Discuss criminal law and the auditor(Solved)
Discuss criminal law and the auditor
Date posted: April 11, 2019. Answers (1)
- Define International Standards on Auditing(Solved)
Define International Standards on Auditing
Date posted: April 11, 2019. Answers (1)
- List the properties of a statutory audit that are different from a private audit.(Solved)
List the properties of a statutory audit that are different from a private audit.
Date posted: April 11, 2019. Answers (1)