question about accounting – Top Premier Essays

As you studied and read in chapter readings so far as well as reading the WSJ article posted last week, it is the responsibility of Management to apply accounting standards (GAAP/IFRS) when communicating with investors and creditors through financial statements (management assertions).
Another group, auditors, serves as an Independent Intermediary to help ensure that management has in fact appropriately applied GAAP in preparing the company’s financial statements.
Auditors examine (audit) financial statements to express a professional, independent opinion (a GAAS Audit). The opinion reflects the auditors’ assessment of the statements’ fairness, which is determined by the extent to which they are prepared in compliance with GAAP.
Some feel that it is important for an auditor to give an independent opinion on a company’s financial statements because the auditors’ fees for performing the audit are paid by the company. In addition to the audit fee, quite often the auditor performs other services for the company such as preparing the company’s income tax returns.
How might an auditor’s ethics be challenged while performing an audit?
Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!Use Discount Code “Newclient” for a 15% Discount!NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.


Looking for this or a Similar Assignment? Click below to Place your Order Instantly!