ACCT90014 - Auditing and Assurance Services

The subject ACCT90014- Auditing and Assurance Services addresses the concepts and the procedures and professional practices of auditing. It addresses such issues as audit planning, evidence collection, risk assessment, internal control evaluation, and ethical responsibility. Students understand how auditors endorse the financial statement is true and reliable.

Sample Questions & Answers

Q1. What are the objectives of audit?
The aim is to conduct an independent evaluation to establish whether financial statements of an entity give a true and fair view in comformity with the applicable accounting standards.

Q2. Why is there a need for auditor independence?
Objectivity is a critical component of auditor independence Auditors need to be, and be perceived as, impartial.