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Need an research paper on internal auditing: directions and opportunities. Needs to be 4 pages. Please no plagiarism.
Need an research paper on internal auditing: directions and opportunities. Needs to be 4 pages. Please no plagiarism. The ethical provisions, therefore, seek to counter the effects of such occurrences as were witnessed in the company. Objectivity of the auditors is fundamental in the auditing process. The auditors must not possess any interest in the company besides the need to reconcile the financial statements of the company. Additionally, they should not collude with the management of the company. The ethical standards explain the type of relationship that should exist between the auditors and the management of the company. Independence is a key attribute in the operation of auditors that the standards espouse. Auditors must operate independently and have the access to every financial information of the company. Failure to comply with such terms of operation results in serve malfunctions of the auditors a feature that affects the quality of the auditing process. Colluding with the management, for example, denies the public the vital truth thereby necessitating losses as was the case in Enron. The international standards for auditing 210 explain the responsibilities of the auditors especially in the acceptance of terms of the agreement. An auditor in most access is an external body who enters an organization with the view of reconciling the financial records of the company before presenting the reports to the stakeholders of the company who in most cases is the general populace. The acceptance of terms and conditions is vital since it helps state the roles of the auditors and the relationship that the auditor should develop with the management of the organization. The objectives of the standards are to establish preconditions and to develop an understanding between the management and the auditors. The standards, therefore, formalize the presence of the auditor in the organization and help create a conducive environment for his operation.
