CPSC 079 Lecture Notes - Lecture 1: Audit Evidence, Accrual, Kenyan Shilling
13 Oct 2016
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Chapter objectives: by the end of this chapter, you are expected to have a general understanding of the following: definition of auditing, distinction between auditing and accounting, what is true and fair, users of audited reports. Benefits of an audit to a public limited company. This procedure is normally called a year end audit and is conducted by an auditor. Audit this is the independent investigation into the quality of published accounting information. An audit therefore is necessary in the current world. 4 a u d i t i n g a n d a s s u r a n c e need for an audit industrialization has led to growth of business through pooling together savings of investors. Thus, the shareholders delegate the task of running the company to a small number of qualified directors through agency relationship.
