Day: February 15, 2021

RISKS TO WHICH FIRMS ARE EXPOSED   A key risk facing any audit firm is that the business will fail.  In this respect an audit firm is no different from any other business venture.   Risks specific to audit firms: Read More …

FRAUD   An auditor’s main concern in an audit is the risk of a material misstatement in the financial statements.  These material misstatements can arise from fraud or error.   An error is an unintentional misstatement in the financial statements, Read More …

PROFESSIONAL APPOINTMENTS   ADVERTISING   ISA 200 sets out the ethical principles governing the auditor’s professional responsibilities.  One of them is professional behaviour.  A member is expected to comply with relevant laws and regulations and should avoid any action that Read More …

FORMING AN AUDIT OPINION There are various audit opinions which can be expressed on a set of financial statements. The auditor needs to consider a number of key matters: Has he received all the information and explanations necessary Has he Read More …

A)  CORPORATE LEVEL The Role of the Corporate Centre As we have seen from chapter 1 strategy occurs at different levels of the organization. Therefore different strategic choices are made for the different levels albeit there will be congruence between Read More …