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Audit Assurance Services

Auditing vs Accounting. Accounting Summarizes transactionsAuditing evaluates if information is correct by obtaining evidence. Risk. Auditing effects information riskRemoteness of informationBias of providerVoluminous dataComplex exchange transactions (mergers, derivatives)Reduce RiskUser veri

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Audit Assurance Services

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Presentation Transcript

    1. Audit & Assurance Services Nature of Auditing: Information in verifiable form Conform with standards (GAAP) Evidence: oral, written, observation, electronic data Independent Competent person Produces Audit report

    2. Auditing vs Accounting Accounting Summarizes transactions Auditing evaluates if information is correct by obtaining evidence

    3. Risk

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