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The Function and Independence of Auditor

I. Introduction
Concern has been growing recently that the modern commercial organisation is becoming less auditable. The volume and complexity of transactions and the opacity of computer-based information systems, coupled with the increased knowledge gap between auditors and clients, make the auditor reliant on evidence whose quality and reliability is open to broad challenges. At the same time, the changing nature of financial reports, from summaries of the past to images of the present and windows on the future, weakens the link between evidence of underlying activities and transactions and their representation in financial statements.
My paper discusses some aspects of indepedence of external auditor and fraud. I examine the adequacy of auditor’s indepedence and determines whether or not inadequacy of auditor’s indepedence is responsible for fraud. The paper concludes the defination of internal and external auditing. In a descriptive manner, the paper examines qualities required of professional external auditors and auditor’s independence - statutory regulations,with their ethnical guidelines on auditor’s independence; and deficiencies in the present practice. A few suggestions are finally put forward which, if accepted, would improve the performance of auditors and make corporate fraudsters

专业:Business Administration
学校：Bradford University
论文用途: BA Degree Assignment

这个作业要写2份，一份我的，一份是给我朋友的，我们是一个班的。

Auditing Assignment
Answer Three Questions ONLY: Questions 1&2 and Either Question 3 or
Question 4. All Questions carry Equal Marks.
Harvard system is the preferred method of referencing to acknowledge and
identify all data sources. Assessment criteria attached.

Question 1
“The concept of auditor independence should be scrapped. Auditor
independence has long been seen as a critical cornerstone of financial
reporting but it is a concept whose time has gone. Instead, it is time to
recognise new realities in the 21st century. Continuing with the idea of
independence perpetuates the expectation gap in the minds of users of
financial statements which does not match up to the reality of the way that
professional firms think and operate.”
SOURCE; William p,(2007), Call a day on independence in Accounting &
Business, Volume 10, number 2, p.12, February

REQUIRED
Comment on the relevance of auditor independence, when as stated above it
is difficult to defend this approach when auditors rely on the fees from
their clients to keep in business.