Auditor’s liability is a serious issue that every auditor should be weary about. Auditors should know the basics of mitigating themselves against auditors’ liability. An auditor can be liable under the common law, to the client or to third party. Under the common law, liabilities can be brought against the auditor for breach of contract. [...]
Auditing and accounting is losing public confidence which is vital in the industry of credibility rendering that auditing is into. This lose of confidence by the users of accounting information is as a result of the myths that auditors have been fed with in the past. Some of those myths are listed in this article [...]
The success of every business hinges on her ability to carryout a quality risk assessment process. Risk assessment is a scientific method/ technique used to determine areas of a business that are more vulnerable to threats- internal or external. Due to the change rules that govern businesses, auditors and other information systems (IS) professionals have [...]
So much has been said about expectation gap and how a lot of auditors use it as a reason for their lack of; competence, care, professionalism and due diligence. Expectation is a term used to represent the gap between what the public expects from the auditors and what auditors actually do (auditors duty is to [...]