auditing and accounting ethics

Running Head : _Auditing and Accounting Ethics

_Auditing and Accounting Ethics

Auditing and Accounting Ethics

Introduction

The conduct of audit and assurance function is one of the services provided by an independent auditor . Because of the significance the audit function has on the credibility of financial statements the type of opinion articulated by an audit report gives some form of assurance to stakeholders that the financial report is free of material misstatements . This is important to the stakeholders such as corporate shareholders , the management , government , employees , all of whom carry

varying personal interests on the company

The Audit engagement and an Oil Painting

An independent audit is aptly likened to a masterpiece of art like an oil painting . A masterpiece contains the best efforts of the painter in the same way that an audit engagement should always be a masterpiece of an auditor . An oil painter directs his focus and concentration to address the minutest of details necessary to make the painting as alive and enduring and flawless as life itself , in the same way that an audit engagement requires the most critical qualification for an auditor the full attention and processes that will prevent every risk from endangering the objective opinion of the auditor . Here , the responsibilities of the painter to bring the best oil painting so far in his career , and the responsibility to bring the message of the painting to those who admire it . On the other hand , the work of an auditor is to make the audit...