Fundamental Principles of Auditing

The video explains the fundamental principles of auditing established by the Auditing Standards Board (ASB), applicable to all audits. It covers three main principles: responsibilities, performance, and reporting. Responsibilities involve the auditor's competence, independence, and professional skepticism. Performance includes planning, supervising, and gathering sufficient evidence. Reporting focuses on issuing the auditor's report and expressing opinions on financial statements.

What new insight or understanding did you gain from this video?

Evaluate responses using AI:

OFF