Question: Discuss about the Auditing and Assurance Role of Data Analytics. Answer: Reflection The topic of the group assignment study is about the role of data analytics in the audit process. The group study identifies the application of the data analytics in the audit. As per the overall group study of the students regarding the role of data analytics in audit practices and principles develops my strong conceptual understan...Read More >>
Question: Discuss About The International Auditing And Assurance Standards Board? Answer: Introducation This discussion will be based on the recent changes that were implemented by the PCAOB in the manner in which audit reports are delivered with specific reference to the risks involved in such transactions. One of the major risks is the liability of the auditors which is a major concern. Besides, much emphasis will be laid on t...Read More >>
Answer: Introduction: The group assignment consists of a written report. The objective of the group report is to develop your communication skills and capacity for collaborative learning and to test your ability to integrate skills learnt in this unit of study, i.e. to analyse a company from the auditor’s perspective, with an emphasis on applying relevant industry and current business information and context to the audit planning p...Read More >>
Answer Major changes in the audit report with due concentration on both similarities and differences betwixt the IAASB and PCAOB auditing standards. After the emergence of GFC (Global Financial Crisis), the requirement of enhancement in the quality of audit report has become very important. The reason behind this can be attributed to the fact that provision of enhanced details in the audit report can facilitate better understanding on t...Read More >>
Answers: Solution 1 Preparation of audit report is the work of an auditor. It is the duty of the auditor to make a true and fair opinion over the accuracy of the financial statements. Financial statement may be used by various persons for their general purposes which are commonly known as Users of the financial statement (Arens, et. al., 2012). Some of the users of financial statements are Management, Investors, Creditors and lenders, e...Read More >>
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