The Paramount Onus Of An Auditing Professional Essay

1643 Words Sep 10th, 2015 7 Pages
The paramount onus of an auditing professional is conveying reliable information to clients and the public so that they may make imperative, intellectual decisions. For this obligation to be fulfilled, a quality audit must be performed in accordance with generally accepted auditing standards (GAAS). Executing a quality audit necessitates an auditor reasonably assures financial statements are presented fairly in accordance with generally accepted accounting principles (GAAP) and not materially misstated, whether due to errors or fraud. Furthermore, executing a quality audit obliges an auditor to utilize professional skepticism by exercising proficient judgment and proves competency in accounting principles and professional auditing standards. By complying with the aforementioned, an auditor undermines the negligence standard of tort law.
I recently completed my academic career, attaining a Certified Public Accountant (CPA) license after earning a Master of Accounting degree from Florida International University. Likewise, I newly opened my individual CPA firm and have been engaged by my first client, Cardozo & Co.— a rapidly developing, privately held service firm who desires to commence offering its stock to the public. Here ends the good news.
As stated in the terms of engagement, I audited and certified the company’s financial statements, which were included in the “expertise” segment of the registration statement that was filed with the Securities and Exchange Commission…

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