tailieunhanh - Lecture Auditing and assurance services in Australia (4th ed): Chapter 2 - Grant Gay, Roger Simnett

Chapter 2 The structure of the profession. In this chapter we will discuss: Professional status of the auditor, regulation of auditing, registered company auditor, professional accounting organisations, profile of the audit profession and audit firms. | Chapter 2 The structure of the profession Copyright © 2010 McGraw-Hill Australia Pty Ltd PPTs t/a Auditing and Assurance Services in Australia 4e by Grant Gay and Roger Simnett Slides prepared by Roger Simnett 2- Learning objective 1: Professional status of the auditor Professional occupations can be distinguished by five common attributes: Systematic theory Professional authority and expertise Community sanction Regulative codes Well-established culture 2- Copyright © 2010 McGraw-Hill Australia Pty Ltd PPTs t/a Auditing and Assurance Services in Australia 4e by Grant Gay and Roger Simnett Slides prepared by Roger Simnett Auditing as a profession Auditing can be classified as a profession because of its: Reliance on an underlying theory of accounting and auditing Expertise Ability to control admissions to the profession Regulative codes in two areas, technical and ethical Behavioural subculture exhibiting integrity, independence, objectivity, confidentiality and public interest. 2- Copyright © 2010 McGraw-Hill Australia Pty Ltd PPTs t/a Auditing and Assurance Services in Australia 4e by Grant Gay and Roger Simnett Slides prepared by Roger Simnett Learning objective 2: Regulation of auditing Financial Reporting Council (FRC): a statutory body established in 1999 with the responsibility of providing a broad oversight of the accounting standard-setting process. This role was recently expanded to include a broad oversight of auditing standard-setting and the monitoring of auditor independence. 2- Copyright © 2010 McGraw-Hill Australia Pty Ltd PPTs t/a Auditing and Assurance Services in Australia 4e by Grant Gay and Roger Simnett Slides prepared by Roger Simnett The Auditing and Assurance Standards Board (AUASB) The AUASB was reconstituted as an independent statutory body on 1 July 2004 and is responsible for the development of auditing and assurance services standards. The Board consists of 12 members appointed by FRC, and a Chair appointed | Chapter 2 The structure of the profession Copyright © 2010 McGraw-Hill Australia Pty Ltd PPTs t/a Auditing and Assurance Services in Australia 4e by Grant Gay and Roger Simnett Slides prepared by Roger Simnett 2- Learning objective 1: Professional status of the auditor Professional occupations can be distinguished by five common attributes: Systematic theory Professional authority and expertise Community sanction Regulative codes Well-established culture 2- Copyright © 2010 McGraw-Hill Australia Pty Ltd PPTs t/a Auditing and Assurance Services in Australia 4e by Grant Gay and Roger Simnett Slides prepared by Roger Simnett Auditing as a profession Auditing can be classified as a profession because of its: Reliance on an underlying theory of accounting and auditing Expertise Ability to control admissions to the profession Regulative codes in two areas, technical and ethical Behavioural subculture exhibiting integrity, independence, objectivity, confidentiality and public