Bunget, Ovidiu-Constantin and David Sobolevschi, Iulia-Maria and Petcu, Monica (2009): Professional reasoning in expressing the auditor's opinion.
Download (133kB) | Preview
Unlike other information, assertions and conclusions made during the audit process, the auditor's opinion expressed in the report on the accuracy of the financial statements in terms of the company’s image is available to all users. The result of a series of professional judgments based on complex theoretical and practical knowledge developed within the referential framework generated by the accounting and audit standards in order to detect misstatements, typological classifications and their correction, the opinion expressed by the auditor may have significant consequences. An inadequate opinion may alter the image of the entity in relation with all stakeholders, with serious implications on the continuity of the business. To the other extreme, an inadequate opinion may encourage unsustainable actions, with severe consequences both on own activity and on third parties.
|Item Type:||MPRA Paper|
|Original Title:||Professional reasoning in expressing the auditor's opinion|
|Keywords:||professional reasoning, opinion, significance, distorting|
|Subjects:||M - Business Administration and Business Economics; Marketing; Accounting > M4 - Accounting and Auditing > M42 - Auditing|
|Depositing User:||Ovidiu-Constantin Bunget|
|Date Deposited:||27. Oct 2009 03:15|
|Last Modified:||13. Feb 2013 07:49|
1. International Financial Reporting Standards 2009
2. International Financial Reporting Standards (IFRS) including International Accounting Standards (IAS) and their interpretations as of January 1, 2007, 3rd ed., Bucharest, CECCAR
3. Order no. 1752 of November 17, 2005 for the approval of the accounting regulations consistent with the European directives, published in the Official Gazette under number 1080 dated November 30, 2005
4. Use Guide of the International Auditing Standards for the audit of small and medium-size enterprises, CECCAR in collaboration with the International Federation of Accountants (IFAC), May 2009
5. Standards - Code of Ethics, Chamber of Financial Auditors of Romania, International Federation of Accountants, Irecson Publishing House, 2007
6. Arens Loebbecke - ARC Publishing House, Bucharest, 2003.