What are the objective and general principles governing an audit of financial statements?
What is the main objective of the auditor in conducting financial statement audit?The auditor's objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes the auditor's opinion.
What is auditing explain objectives and principles of auditing?Auditing is the systematic examination of the books of accounts and the other documents of the company, which is conducted with the main objective of knowing whether the company's financial statement shows a true and fair view of the organization.
What are the basic principles governing the financial audit?The basic principles of auditing are confidentiality, integrity, objectivity, independence, skills and competence, work performed by others, documentation, planning, audit evidence, accounting system and internal control, and audit reporting.
What is the objective of an audit of financial statements?The objective of an audit of financial statements is to enable the auditor to express an opinion whether the financial statements are prepared, in all material respects, in accordance with an applicable financial reporting framework.
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