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Professional reasoning in expressing the auditor's opinion

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  • Bunget, Ovidiu-Constantin
  • David Sobolevschi, Iulia-Maria
  • Petcu, Monica
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    Abstract

    Unlike other information, assertions and conclusions made during the audit process, the auditor's opinion expressed in the report on the accuracy of the financial statements in terms of the company’s image is available to all users. The result of a series of professional judgments based on complex theoretical and practical knowledge developed within the referential framework generated by the accounting and audit standards in order to detect misstatements, typological classifications and their correction, the opinion expressed by the auditor may have significant consequences. An inadequate opinion may alter the image of the entity in relation with all stakeholders, with serious implications on the continuity of the business. To the other extreme, an inadequate opinion may encourage unsustainable actions, with severe consequences both on own activity and on third parties.

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    File URL: http://mpra.ub.uni-muenchen.de/18186/
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    Bibliographic Info

    Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 18186.

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    Date of creation: 26 Oct 2009
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    Handle: RePEc:pra:mprapa:18186

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    Keywords: professional reasoning; opinion; significance; distorting;

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