BUS 426 Chapter Notes - Chapter 4: Chief Financial Officer, W. M. Keck Observatory, External Auditor

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 426
• Professor: Craig Emby

Document Summary

The application of relevant knowledge and experience, within the context provided by auditing and accounting standards and rules of professional conduct, in reaching decisions where a choice must be made between alternative possible courses of actions. Review and complete documentati on and rationale for conclusions. The auditing standards note that professional skepticism a (cid:862)(cid:395)uestio(cid:374)i(cid:374)g (cid:373)i(cid:374)d(cid:863) is necessary for the critical assessment of audit evidence. Gi(cid:448)e(cid:374) the audito(cid:396)"s u(cid:374)i(cid:395)ue (cid:396)ole a(cid:374)d its pu(cid:271)li(cid:272) i(cid:374)te(cid:396)est o(cid:271)ligatio(cid:374)s, it is esse(cid:374)tial that use(cid:396)s" t(cid:396)ust i(cid:374) the audito(cid:396)s" p(cid:396)ofessio(cid:374)al a(cid:374)d ethi(cid:272)al (cid:271)eha(cid:448)io(cid:396) is (cid:374)ot (cid:373)ispla(cid:272)ed. A generic framework for the resolution: obtain the relevant facts and identify issues. Identify who is affected and how each is affected: consider and evaluate courses of action. Giving voice to values (gvv: based on the assumption that the organization and the person at the center of the dilemma is willing to work to resolve ethical dilemmas. Decision makers are susceptible ( ) to judgement traps.