Tuesday 19 May 2015

Objective of Auditor

Objective of Auditor

The objectives can be classified as under

1.    Obtain Reasonable Assurance

Auditor wants to obtain reasonable assurance that financial statements prepared by the management are accurate and free from misstatement. The misstatement may arise due to fraud and error.

2.    Express Opinion over Financial statements

Auditor is required to express an audit opinion that whether or not financial statements are consistent with applicable financial frame work