Auditing
Question 1. Ethical Considerations
(A)
As an auditor when provide professional service and client have to follow the fundamental principle of the code of Ethics
Integrity
An auditor has to be fair and honest to the client. There is an obligation on the auditor to be straightforward and honest in all the professional and business relationships.
In this case, an auditor has to be integrity to present their honest and fair to the client. Even Game’s Limited’s managing director is unhappy with the existing auditing firm has been changed.
Objective
An auditor has to be objective and fair. Auditor has to be fairness and objective to provide financial report. The client’s point of view must not affect auditor’s objective.
In this case, Games Ltd has been named in a recent anti-corruption enquiry as having offered incentives to state government members to support a proposed bill which would allow an increased number of gaming machines in license premises. And No charges have been laid against Game Limited or any of its employees. Those things are not to affect auditor’s point of view to the Games Limited financial report. As the auditor of Games Ltd has to provide objective and professional opinions to the shareholders.
Professional competence and due care
An auditor has to provide and maintain high level knowledge and professional competence. They should only take the work they can expect to complete with professional competence and due care in the professional standard.
In this case, if auditor has accept the appointment, and he will provide professional competence and due care to the client.
Confidentially
An auditor always working within the different company, they could access some value information and confidentially document. They should not give that information to the third party without client’s authority.
Professional behavior
An auditor has to comply with the legislation regulation as a manner consistent with the good reputation of
(A)
As an auditor when provide professional service and client have to follow the fundamental principle of the code of Ethics
Integrity
An auditor has to be fair and honest to the client. There is an obligation on the auditor to be straightforward and honest in all the professional and business relationships.
In this case, an auditor has to be integrity to present their honest and fair to the client. Even Game’s Limited’s managing director is unhappy with the existing auditing firm has been changed.
Objective
An auditor has to be objective and fair. Auditor has to be fairness and objective to provide financial report. The client’s point of view must not affect auditor’s objective.
In this case, Games Ltd has been named in a recent anti-corruption enquiry as having offered incentives to state government members to support a proposed bill which would allow an increased number of gaming machines in license premises. And No charges have been laid against Game Limited or any of its employees. Those things are not to affect auditor’s point of view to the Games Limited financial report. As the auditor of Games Ltd has to provide objective and professional opinions to the shareholders.
Professional competence and due care
An auditor has to provide and maintain high level knowledge and professional competence. They should only take the work they can expect to complete with professional competence and due care in the professional standard.
In this case, if auditor has accept the appointment, and he will provide professional competence and due care to the client.
Confidentially
An auditor always working within the different company, they could access some value information and confidentially document. They should not give that information to the third party without client’s authority.
Professional behavior
An auditor has to comply with the legislation regulation as a manner consistent with the good reputation of