Adding Credibility Through Assurance Services
- Topics:
- Audits,
- Financial Statements
- Tags:
- Audit,
- Audit Committee,
- Finance,
- Financial,
- Financial Accounting,
- Financial Planning,
- Financial Statement,
- Financial Statements,
- Public Sector
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Overview: This article is about the auditing and the use of financial statements. It explains all the major part of the accounting systems. The statutory audit gives assurance on financial statements prepared by management but is driven by the requirements of legislation. Historical financial statements are only one form of information: stakeholders increasingly look to other forms, both financial and non-financial. Audit committees are a feature of most listed companies and many public sector bodies. In order to do their job properly on behalf of shareholders, they rely on both internal and external auditors reporting to them on the health of the organisation. In the private sector, these reports are provided privately to the directors; but, in the public sector, there is public reporting on such matters as value for money, corporate governance, and the arrangements in place to prevent fraud and to ensure quality information through effective systems of internal control.
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Format: HTML | Date: Jun 1999 | Pages: 1
