CHECK THESE SAMPLES OF Independence of auditing
Arthur Andersen was charged with impediment of justice because of destroying documents, erasing emails and files that were affiliated to his auditing firm dealings with Enron.... Student Professor Course Date: Enron Corporation Scandal Enron Inc.... is a multinational company dealing with the production and supply of commodities and services across Houston, Texas....
6 Pages
(1500 words)
Essay
Scenario3 wishes to find out whether or not an outside auditing firm must report directly to the "internal auditing committee" of a public corporation.... It is a law for all public that set the standards for all the United States of America's public companies board, the management and all the public accounting firms....
4 Pages
(1000 words)
Essay
Intimidation threats such as coercion the owners of the firm will hinder the independence of the auditor.... independence cannot be absolute since the auditor is appointed, and paid by the client.... The writer of the paper "Issues Related To The Auditor independence" discusses different threats that occasion impairment on an auditor's objectivity such as the self-interest threats.... Self-review threats also present threats to independence while advocacy threats may present unbiased opinions on the financial position of the firm....
4 Pages
(1000 words)
Research Paper
The independence of the auditing body in the business environment is of paramount significance to the smooth running of financial operations.... The International Organization of the security commission (2002) states that the role of client in appointing the auditor provides a weakness in the independence of the audit results.... The auditing should comply with the stated standards to ensure that the financial statements provided by these bodies reflect the true picture that exists within the organization....
4 Pages
(1000 words)
Essay
In the United States, the American Institutes of Certified Public Accountants have prescribed Generally Accepted auditing Standards in order to facilitate fair auditing procedures.... These auditing standards mostly deal with what auditors should be performing, how they should do the fieldwork and what they should report.... These auditing standards specify that audition function should be done by qualified auditors with appropriate technical skills and proficiency, free from such mental attitude that may obstruct auditing process and should have the capability of giving independent opinion on the books of accounts and accounting practices followed....
4 Pages
(1000 words)
Essay
The spirit of the law intends to ensure the objectivity and Independence of auditing firms by not assuming a dual role of being an auditor and a management consultant.... This would be prevented with the Sarbanes-Oxley Act because the law stresses Auditor Independence that establishes the independence of external auditor to limit the conflicts of interest.... Conflict of interest leads to losing independence of audit report that lead to their audit certification of a company's overstated earnings and thereby distorting the market by not reflecting the true financial position of its players....
2 Pages
(500 words)
Essay
The non-audit services affect the Independence of auditing directly as they affect how the audit is carried out.... Non-audit services increase the quality of auditing in any organization (Reckers, 2003).... The quality of auditing is increased, as the auditors are aware that the documents in the organization have been scrutinized.... Audit services provide the shareholders of a company with professional information and opinion on whether their company financial statements reflect the actual state of affair as they are on the ground (Lehman,… For these reasons, the topic will be of research to determine and explore the independence of auditors in terms of the audit quality, non-audit service fees, and non-audit service (Campbell and Houghton, 2005).
Non-audit services are professional services provided by a Auditing Auditing Auditing is a very crucial activity in any successful organization....
1 Pages
(250 words)
Literature review
The need for ethical code arises in case of auditing; as the accountants are needed to work with respect to the public interests and they hold the position of trust in the society.... International Federation of Accountants (IFAC) is responsible for setting the standards of auditing that are likely to be followed internationally (International Federation of Accountants, 2006; Kaplan Financial Limited, n.... auditing Firms May Legitimise Their Status by Appealing To Profession
The fundamental… The code of ethics of International Federation of Accountants is essential because the profession is based on public interest and the task performed by auditors extending beyond The International Federation of Accountants (IFAC) has set ethical standards for the accounting profession that includes integrity, objectivity and confidentiality linked with the auditing profession and many more....
10 Pages
(2500 words)
Essay
