audit
Rosdelima Mohd Ali Jaafar   CA(M), MBA (Strategic Management)

Scope of Audit of External Auditors

In general the auditor’s objectives are to obtain reasonable assurance about whether the financial statements as whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that will state the auditor’s opinion on the financial statements.

Generally the followings are the scope and responsibilities of an external auditor’s:

  1. Evaluating financial statements and assessing accounts for accuracy and compliance
  2. Inspect internal systems and controls
  3. Assessing risk management approaches
  4. Report systematic errors or fraud indicators
  5. Reporting on errors and fraud
  6. Providing feedback reports on findings
  7. Issue an audit report