Registered external auditors must have the knowledge and skills to perform their function and should be honest. There are also a number of other attributes or fundamental principles of ethical behavior, which all auditors should have and these are identified in professional external auditing standards issued by IRBA as follows: · integrity · objectivity · professional competence and due care · confidentiality · professional behavior The following actions taken by registered external auditors are example of non-compliance with one or more principles listed above; Question 2 Because the budget for the audit of Afrimat Ltd would be exceeded and because he felt that, he had a competent audit team, A Smith the registered auditor in charge of the audit decided not to spend the necessary time on reviewing the work papers of the audit team.
Registered external auditors must have the knowledge and skills to perform their function and should be honest. There are also a number of other attributes or fundamental principles of ethical behavior, which all auditors should have and these are identified in professional external auditing standards issued by IRBA as follows:
· integrity
· objectivity
· professional competence and due care
· confidentiality
· professional behavior
The following actions taken by registered external auditors are example of non-compliance with one or more principles listed above;
Question 2
Because the budget for the audit of Afrimat Ltd would be exceeded and because he felt that, he had a
competent audit team, A Smith the registered auditor in charge of the audit decided not to spend the
necessary time on reviewing the work papers of the audit team.
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