Asked by: Hossain Pantojo
asked in category: General Last Updated: 17th January, 2020

What are the responsibilities of auditors?

The auditor's responsibility is to express an opinion on whether management has fairly presented the information in the financial statements. To do so, the auditor collects evidence to obtain reasonable assurance that the accounts are free of material misstatement.

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Herein, what are the duties and responsibilities of auditor?

Auditor Job Duties:

  • Ensures compliance with established internal control procedures by examining records, reports, operating practices, and documentation.
  • Verifies assets and liabilities by comparing items to documentation.
  • Completes audit workpapers by documenting audit tests and findings.

Additionally, what are the duties and responsibilities of an external auditor? External Auditor responsibilities include:

  • Inspecting financial statements to catch errors, misstatements and fraud.
  • Performing audits on systems, operations and accounts.
  • Reporting audit findings and recommending improvements.

Similarly, you may ask, what is the role of an auditor?

An auditor, for the purpose of accounting, is a person whose job it is to make sure that information reported on financial statements is true and accurate and that the financial statements are prepared according to GAAP principles.

What is the primary function of an auditor?

An auditor typically does the following: Examines financial statements to be sure that they are accurate and comply with laws and regulations. Computes taxes owed, prepares tax returns, and ensures that taxes are paid properly and on time.

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