WHY IS AUDITOR INDEPENDENCE SO IMPORTANT? Auditing is the efficient critical examination done by one person or group of people’s independent from the system audited. To do an audit‚ confirmed information must be present and some standards by which the auditor can evaluate the information. Another is gathering and evaluating any information to determine whether the information being audited is identified in accordance with establish criteria to satisfy the purpose of the audit and also auditors must
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Why were Buffalo so important to the Plains Indians? Plains Indians became totally dependent on the Buffalo for their existence and it provided them with food‚ shelter‚ tools‚ entertainment and clothing. The Plains Indians became traveling hunters because the Buffalo moved to different places and the Indians followed the vast herds that covered the Plains. Until the arrival of the horse‚ the Native Americans hunted on foot. As they followed the Buffalo killed as many animals as possible for the
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Ancient Greek Religious Temples. By: Sydney Fry Thesis The Greek religious temples were very important to the ancient Greek people because they were used to worship the gods. Why were the greek religious temples so important? Why were greek religious temples so important? In ancient greece‚ greek gods were the way of explaining life. They believed that the gods took care of them after they died so the temples acted as homes for the gods. Since the gods lived forever the temple needed
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Auditor Quality 1. Introduction Over the past 20 years‚ research has been carried out to interpret audit quality and still no agreement on the method of measurement for audit quality. This is because audit quality depends on individual understandings‚ and those conceptions rely on whose perspectives are taken into consideration. The International Auditing and Assurance Standards Board’s (IAASB) lately established Framework for Audit Quality (the Framework) in the purpose to systemize the
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Ethic is concerned about the study of human behaviour. It provides a structure for dealing different kinds of issues‚ dilemmas and problems. Understanding the ethical concepts help the individual to decide the necessary action provide in the situation. According to the International Council of Nurses (1973)‚ it is the healthcare workers responsibilities to give quality of care to prevent the infection and to ensure the holistic care of the patient. Hand hygiene practice is the responsibility of
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Why is it important for external auditor to be independent? Throughout the years‚ banks‚ shareholders‚ possible investors and creditors always relied on the financial statements produced by a company. Since the management of a company is producing these documents it has been assumed that the managers may act dishonestly so that their performance looks better. To monitor the company’s performance better the directors along with the shareholders employ external auditors to check all these financial
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Why is it important for external auditors to be independent? Relate your answer to the primary role of external auditors? By Zachariah Godfrey-Plews This essay has asked me to look at the importance of external auditors and why it is vital for them to remain independent. I will try and look at the many ways of the advantages of independent auditing from different perspectives for example the company itself‚ the general public and the state. I think it is important to first define what an audit
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Table of Contents 1.0 Introduction 1.1 Audit 1.2 nature of auditor independence 1.3 principle of auditor independence 2.0 The concept of auditor rotation 3.0 The history and current debates concerning auditor rotation 4.0 Different countries regimen should be considered 5.0 Conclusion 6.0 List of references 7.0 Appendices 1.0 INTRODUCTION 1.1 Audit Auditing is the analysis of the financial accounts or records‚ by a qualified accountant‚ and
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European Accounting Review 2000‚ 9:3‚ 371 385 Auditor liability rules under imperfect information and costly litigation: the welfare-increasing eŒ of liability ect insurance Ralf Ewert‚ Eberhard Feess and Martin Nell University of Frankfurt‚ Frankfurt am Main ABSTRACT This paper examines auditor liability rules under imperfect information‚ costly litigation and risk-averse auditors. A negligence rule fails in such a setting‚ because in equilibrium auditors will deviate with positive probability from
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of involvement and oversight by a foreign parent company. Like many other companies‚ Molex has made a commitment to maintaining and encouraging frequent and active communications between subsidiaries‚ and between subsidiaries and the parent company. Unlike some multi-national companies‚ Molex has made a substantial financial commitment to ensuring that it is able to communicate effectively with its subsidiaries so that managers have a common understanding of corporate goals‚ the company’s financial
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