Auditing
(w1)
Agency Theory:
The theory of the relationship between the owner and the management of the business when the owner is not the manager of the business.
CLERP9
Auditor rotation 审计师轮换
a type of opinion
disclaimer of opinion
adverse opinion
qualified opinion
an auditor cannot perform a significant role in the audit of a client in more than five out of seven years.
specific disclosures in the directors report
a disclosure of material transactions between auditor and entity during the period under audit.
details of the amount paid or payable to the company's auditor for non-audit services (each non-audit service must be listed separately along with the amount paid or payable for that service)
a statement whether the directors are satisfied that the provision of non-audit services by the auditor impacts the auditor's independence
comparability
able to identify trends that may influence their perception of how well the entity is doing
able to assess performance of the entity over time and with other entities
able to evaluate
a limitation of an audit is caused by
the nature of financial reporting
the nature of audit procedures
the need for the audit to be conducted within a reasonable period of time and at a reasonable cost
the objective of the FRC (Financial Reporting Council)
to oversee the process used for setting accounting and auditing standards
to monitor and report regularly on matters concerning auditor independence