Improving Auditor Relationship with Highly Autohrized Customer Representatives
In the absence of any detailed comments on practical application of the International Auditing Standards 260 and 265, auditors in their sole professional judgment determine the number of persons who will be notified of significant issues and assess the level of materiality of the intended for notification information. In Ukraine, this process is being complicated due to the auditors' lack of sufficient experience in drafting working documents in the course of business entities audit. The Article provides possible variants for business entities organizational structure and ways of assigning supervisory and management functions. It will allow an auditor to distinguish management staff from those who are vested in high powers. The role of the audit committee has been determined in fulfilling supervisory duty over financial reporting data formation of the financial statements and reducing the risks of their material misstatement. The efficiency of auditor relationship with those vested in high powers has been substantiated. The information the auditor is to provide for those vested in high powers has been systematized. Examples have been given of working documents in oral and written form of the information reported to those who are vested in high powers and which can be used by audit firms as working documents. The content of these documents is not exclusive and solely depend on the auditor's opinion.
Volume (Year): (2013)
Issue (Month): 4 (December)
|Contact details of provider:|| Postal: |
Web page: http://www.iaf.kiev.ua/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:iaf:journl:y:2013:i:4:p:107-113. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Serhiy Ostapchuk)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.