Financial Audit: Introduction

Person or Organization responsible for the preparation of financial statement

• Auditor

• Management

• Creditor

• Investor

Gathering evidence to ascertain whether rules, policies, procedures, laws and regulations

have been followed

• Compliance Audit

• Financial Audit

• Management Audit

• Internal Audit

Included the assurance expression, except for ...

• Positive

• Negative

• No Assurance

• Interrogative

Best audit opinion is ...

• Unqualified opinion

• Qualified opinion

• Adverse opinion

• Disclaimer opinion

Professional body that provide certification for financial auditor

• CPA Australia

• Australian Securities Exchange (ASX)

• Australian securities and investments commission (ASIC)

• International auditing and assurance  standards board

Unqualified opinion is given to financial statement that ...

• presented according to accounting standard

• report huge amount of profit

• presented by infamous corporation

• report profit and constant growth

What is the grand theory that undeline Financial Audit?

• Technology Acceptance Model

• Agency Theory

• Signaling Theory

• Resource Based Theory