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Who performs the audit and who is responsible for the opinion?

Who performs the audit and who is responsible for the opinion?

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Question added by Wilfredo Quito , Accounting Manager , DDC LAND INC.
Date Posted: 2016/10/21
Anil Lalwani
by Anil Lalwani , Chief Accountant , Al Ahli Hospital

A qualified person, like CPA, CA etc. is responsible for Audit Opinion, however he can not conduct all the Audit Jobs by himself so he can appoint some one to do the job on his behalf may be his employees or assistants. But responsibility of opinion completely lies on Auditor.

Now a days so many CPA or CA firms are appointing several persons to conduct large number of Audit Jobs. But report is signed by CPA or CA himself.

Soliman Abd  ALmalak Gendy
by Soliman Abd ALmalak Gendy , مدير ادارة مراقبة حسابات , الجهاز المركزى للمحاسبات

-A company uses internal & external auditors to track any number of factors in the operation.

-The auditors services as a neutral party to report on these factors.

-Internal auditor to check that the company is performing its tasks as expected.. 

-An external auditor can be the result of checking compliance to governmental regulations, accounting practices

Ahmed mohsen
by Ahmed mohsen , Senior Accountant , Main Poly Clinic

The auditor has a responsibility to plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether caused by error or fraud.

Abdullatif Mohamed
by Abdullatif Mohamed , Senior Accountant , Olaat Development

chartered accountant, He responsible for perform the audit and the opinion.

Nazmul Islam CMA
by Nazmul Islam CMA , Manager , Robi Axiatal Ltd.

The auditor is external which is a government  approved entity. The auditing entity is responsible for the opinion.

Saifullah Saifi
by Saifullah Saifi , Accountant , United Brothers Trader

Thanks for invitation, I am agree with all previous opinions

Tomasz L
by Tomasz L , Reporting Specialist , Outworking

I can fully agree with Mr. Anil Lalwani. 

kamran khalid
by kamran khalid , Head Of Finance , Pace College

Chartered Accountants

Cost & Management Accountants

Public Accountants

 

Appointed Auditor responsible for Independent opinion about the Financial Statements of the company

Ahmed Mostafa
by Ahmed Mostafa , Manager, Forensics , KPMG ME

In fact the audit team is conducting the audit procedures but the  responsible is the engaged auditor or the firm

هيثم ناجى
by هيثم ناجى , محاسب اول , الفيوم لصناعة السكر

The Internal Audit activity IIA is resbonsible for the performing the audit process to provide reasonable assurance that the operations are effective and efficient

the external auditors resbonsible for attestation and opinion about the financial statement

and the audit committee resposible for appoint the IIA and  Cheif Audit Exacutive CAE and supervising over the audit performing

krishnamoorthy Achutham
by krishnamoorthy Achutham , DY Manager (Accounts) , M/S.DCW Limited,Sahupuram, Arumuganeri

The auditors appointed by the company will conduct the audit.On completion they will give their opinion in the form of report.

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