- 15 Marks
AAA – May 2022 – L3 – Q6 – Ethical Issues in Auditing
Prepare a manual on external auditor eligibility and discuss auditor objectives under ISA 200.
Question
The accountancy profession earns confidence and public respect partly as a result of its self-regulatory mechanism, application of legal principles, and professional standards.
This issue became a subject of discussion when a group of business owners who just incorporated their companies were deliberating on who should carry out an audit and what are the guiding principles for determining the performance of such responsibility.
Required:
a. Prepare a manual to enable the discussants to understand this professional member’s eligibility to act as an external auditor. (9 Marks)
b. Discuss the objectives of an auditor in accordance with ISA 200: Overall objectives of the independent auditor and the conduct of an auditor in accordance with International Standards on Auditing. (6 Marks)
Find Related Questions by Tags, levels, etc.
- Tags: Audit Guidance, Audit Objectives, Auditor Eligibility, ISA 200, Professional Standards
- Level: Level 3