SOLUTIONS MANUAL to accompany MODERN AUDITING & ASSURANCE SERVICES
MODERN AUDITING &
Philomena Leung, Paul Coram and Barry Cooper
© John Wiley & Sons Australia, Ltd 2007
Auditing, assurance and the public accounting profession
1.1 How does an expanded role of professional accountants affect the accounting profession?
The expanded role of professional accountants has affected the accounting profession, in that new opportunities have been created for the profession to extend the range of services it offers to business organisations and the public. With the enhancements of technology, global transactions and competition between accountancy firms, …show more content…
an independent and systematic examination of an organisation, program or function for the purposes of:
• forming an opinion about:
– whether the organisation, program or function is being managed in an economical, efficient and effective manner; and
– the adequacy of internal procedures for promoting and monitoring economy, efficiency and effectiveness; and
• suggesting ways by which management practices, including procedures for monitoring performance, might be improved.
Comprehensive auditing occurs when an auditor