The History of Auditing
The profession of auditing has been around for a significant amount of time. It has traditionally been concerned with accounting for government activities and examining the work done by tax collectors. Today, accounting records are required to be kept to comply with various pieces of legislation; however, in the past, this was not the case. […]
ISQC 1: Audit Firms must ensure that their Audits adhere to Quality Standards
The purpose of this is to reduce the RISKS of: 审计事务所必须确保他们的审计工作遵守质量标准，其目的是减少以下的风险： There are 2 Different Quality Control Standards 有两种不同的质量控制标准 [*] – However, effective 15 December 2022: [*] – 然而，即将在2022年12月15日生效:- ISQM 1 取代了 ISQC 1; ISA 220 财务报表审计的质量管理取代财务报表审计的质量控制 *Quick note to Audit Firms: Firms are recommended to research the requirements of the three new quality management […]
7. How can the Application of Professional Skepticism be Evidenced?
Auditors often show Professional Skepticism during audit conversations. The auditor’s discussion with TCWG may explain why a substantial accounting practice permissible under the applicable financial reporting framework is not most suited for the entity. 审计师在审计谈话中经常表现出职业怀疑态度。 审计师与 TCWG 的讨论可能会解释为什么在适用的财务报告框架下允许的实质性会计做法却不是该实体最适合的。 Audit documentation is essential for demonstrating Professional Skepticism since it shows that the audit was planned and […]
8. Do Regulators, Audit Firm Oversight Bodies, and Governance Bodies support Auditors’ Scepticism?
The ISAs do not set forth requirements for regulators and oversight bodies of the audit firms, nor for TCWG. However, because of the critical role that those stakeholders serve in achieving audit quality, they are in a position to further challenge auditors to be skeptical through adequate two-way communication and effective oversight and inspection of […]
