Auditing Accounting

Auditing Accounting

Words needed: 1000-1100 Word count

Ethics plays a major role in the auditing process and profession. Discuss the ethical theories that can be utilized to deal with issues that can arise during the audit process. Address the following topics:

Explain how you could establish a framework using these theories to support an audit.
Highlight the key principles of the American Institute of CPAs (AICPA’s) Rules of Conduct.
Compare and contrast their rules against the rules used in international audits under the International Ethics Standards Board for Accountants (IESBA).
What does independence mean in an auditing context?
Compare and contrast in fact and in appearance, and illustrate their differences.

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Auditing and Assurance

The duty of the auditor is to prove the true and fair view of the company’s financial statements.  Detection risk which is a type of audit risk occurs in the instance where the procedures applied by the auditor fail to detect any misstatement in the financial statement.

(1,187 words)