The requirements is to be independent, carry out work with integrity, be fit and proper, keep to technical standards, e.g. compliance with the Companies Act and auditing standards and continue to be, competent to carry out audit work ( Smith, 2003, pg.6 ).
The requirements regarding the appointment of auditors and the duties of auditors are found in the Companies Act 2006. The rules of the EU Statutory Audit Directive concerning the eligibility of company auditors are also found in the Companies Act 2006. Auditors in the UK are authorised to carry out company audit work and are regulated by one of five Recognised Supervisory Bodies (RSBs), which are professional bodis approved by the UK Government for the purposes of assessing eligibility, issuing licences and carrying out ongoing quality control checks of the auditors work.
The importance of being audited in a way not very , the aim of this instrument to serve the Parties used the financial statements, so rely on them in making decisions and fee policy and objectives.
Enterprise Manager depend entirely on accounting data in the development of plans and performance monitoring and evaluation, and from here ensures that the data be correct and reflect the actual situation and sound, which are audited by accounting technical …show more content…
and do economic planning and decision-developmental decisions process serve the public interest, for this shall be that the information appearing on these financial statements reflect the The actual reality of the institution.
The government agencies and various state agencies depends on the audited menus for many purposes, including planning and control, and taxation and pricing, and provide subsidies to some of the activities and sectors ..... etc. .As well as trade unions rely on the financial statements when negotiating with management on wages and profit sharing and the like, so that these lists should be reflective of the actual image of the state institution.
It is noted that the product of accounting became served several parties of the society and this is based on the product to take a series of decisions, and this is not done unless it can be trusted in this product, since this trust will not be completed unless it was approved these lists party neutral external body which examines critically orderly and accurate data on the phenomenon of these rules and give an impartial professional opinion about the validity of such data and the legitimacy and