Please enable JavaScript.
Coggle requires JavaScript to display documents.
Unit 1 - Independence of Auditor - Coggle Diagram
Unit 1 - Independence of Auditor
Independence of Auditors
Most Basic Objective
True & Fair view
material Discrepance
Credibility
Allowed areas of work
Taxation advice
Financial Advice
Investigation
Disallowed areas of work
Acc & Book Keeping
Internal Audit
Fin Info Sys
Acturial Services
Invest. Bank. Services
Invest. Advice Services
Mgt Services
Outsouced Fin Services
Note
Advantages of Independent Audit:
Shareholder safeguard
Fraud moral check
Tax liability & loans
Internal control detection
Organizational review
Threats to Auditor Independence:
Self-Interest Threat
Self-Review Threat
Advocacy Threat
Familiarity Threat
Intimidation Threat
Measures to ensure auditor independence:
No client shares
No non-audit benefits
No client borrowing
No commission from clients
No consulting work