Liability CaseEssay Preview: Liability CaseReport this essayCongratulation you had successfully completed an accounting degree in Hong Kong first, I can give you some advices to have a preparation for your concern on this professional of an auditor.
Lets talk about the duties of an auditor, are under a statutory obligation to produce a report during their term of office with a company. The report must adhere to certain standards, the key one being to give a true and fair view of the companys affairs. The HKSA 700 and S141 are about duties having to read.
HKSA 700 – requires that auditor report should contain a clear expression of the auditors opinion of the financial statement. If financial statements prepared in accordance with the requirements of a fair presentation framework do not achieve fair presentation, the auditor shall discuss the matter with management and, depending on the requirements of the applicable financial reporting framework and how the matter is resolved, shall determine whether it is necessary to modify the opinion in the auditors report
S141 – requires auditors must report to the members on whether the financial statements show a true and fail view. The report of proper books of account have been kept by the company and proper returns adequate for their audit have been received from branches not visited by them and the companys balance sheet and profit and loss account are in agreement with the books of account and returns
You can also read more go deep into Quasi-Legal Duties, Common Law Duties, and Breach of Duties for detecting frauds, errors and irregularities and specifics.
The status of HKICPA is incorporated by the Professional Accountants Ordinances on 1 January 1973; the Hong Kong Institute of Certified Public Accountants (the Institute) is the only statutory licensing body of accountants in Hong Kong responsible for regulation of the accountancy profession. The Mission is to serve the accountancy profession and the public through an efficient and transparent system of self-regulation and effective professional development in line with the development of Hong Kong as a world city. The Vision to be recognized as a world class accountancy body that meet the rising expectations of its members and serves the best interests of Hong Kong. You need to read and understand that follow to be a right auditor.
The Vision to be recognized as a world class accountancy body that meet the rising expectations of its members and serves the best interests of Hong Kong.
The Goals of the Vision to be recognized as a world class accountancy body:
To provide Hong Kong’s global accountancy industry with the information it needs to thrive. To empower the Hong Kong public, and to promote its own self-regulation, to support the needs of Hong Kong, to enhance global accountancy, and to expand it over time.
The Mission of the Vision to be recognized as a world class accountancy body:
To provide Hong Kong’s global accountancy industry with the information it needs to thrive. To empower the Hong Kong public, and to promote its own self-regulation, to support the needs of Hong Kong, to enhance global accountancy, and to expand it over time.
The Mission to be recognized as a world class accountancy body:
To provide Hong Kong’s global accountancy industry with the information it needs to thrive. To empower the Hong Kong public, and to promote its own self-regulation, to support the needs of Hong Kong, to enhance global accountancy, and to expand it over time.
The Main Vision for the Vision to be recognized as a global accountancy industry. This Mission is about improving accounting on its own – about providing financial stability for Hong Kong’s accountancy professionals. To be a leading global accountancy sector in the world, it is about providing access to an easy-to-understand and accessible accountancy system for the Hong Kong public. This means ensuring that staff and auditors can earn a living, that our accountancy professionals can continue to work, and even that Hong Kong’s accountancy staff are able to take part in the Hong Kong government’s financial services programme. The Mission is dedicated to delivering financial stability to accountancy professionals. This vision will help ensure that Hong Kong’s accountancy professionals can be part of that. This key vision will be seen to be a key pillar of the overall accounting system.
The Main Vision for the Vision to be recognised as a global accountancy industry. This Vision is about providing financial stability for Hong Kong’s accountancy professionals. To be a leading global accountancy sector in the world, it is about providing access to an Easy-to-understand & accessible accountancy system for the Hong Kong public. This means ensuring that staff and auditors can earn a living, that our accountancy professionals can continue to work, and even that Hong Kong’s accountancy staff are able to take part in the Hong Kong government’s financial services programme. The Mission is dedicated to delivering financial stability to accountancy professionals. This vision will help ensure that Hong Kong’s accountancy professionals can be