Tag: Threats in Auditing

There are some challenges relevant to the auditor and audit professions which are not directly internal to the firms and has no or significantly lower control over them. These challenges are the outdoor challenges which are caused mostly from the side of readers or users of the financial statements, management of the clients, governments and regulatory bodies. Read more

Issues of auditor independence, the role of corporate governance, the responsibilities of management, the appropriateness of consulting services, and the overall professional obligations of auditors have all been discussed and debated by a broad array of interested groups and individuals. The theme linking these debates has often been ‘what is wrong with the auditing profession?’ and its close relative ‘what can be done to improve the auditing profession?’ Read more