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Audit
Assurance - O'Dwyer & Owen, 2005
| Question | Answer |
|---|---|
| accountant assurers | take caution - often provide limited assurance |
| consultant assurers | evaluative approach - often higher assurance |
| focus on aiding strategic direction | blurs boundaries of independence |
| large companies in sensitive industries | have highest uptake in consistent reports |
| increase in assurance from | third parties |
| credibility called into question because | severe managerial influence in assurance processes |
| stakeholder input | an exception |
| management can | restrict scope |
| narrow intended user | if intended user highlighted in report it is often directed to 'corporate management' - if they are the only intended user - should it just be an internal report |
| distinction between accountant and consultant assurors | accountant - cautious, focus on consistency, 'true and fair' rarely stated (high assurance rare) consultant - focus on completeness, fairness and balance. evaluative and strategic approach -> adding value |
| explain 'dead end in accountability' | big 4 dont write assurors name, consultants do big 4 are relying on their reputation from financial audit market |
| less accountability means | increase as a management tool |
| assurance should hold | entities to account - value added approach does not |
| robustness hard to implement when | assurors being paid by entity |
Created by:
amyperston
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