1.1INTRODUCTION
The role of an auditor are impressed by the layman is that of an auditor being in quest of errors, theft, defalcation and fraud. But the impression of various accounting society on the role of auditor cuts across this limit of layman view. Accountant see the purpose of audit by an auditor beyond the layman view to include the inquiry of the truth and fairness of the entity affairs as represented in their records, whether they have prepared it in accordance with the general accepted financial statement of the current period and the proceeding period and, conform the statutory requirement.
The observance of generally accepted auditing standards, the auditor must exercise sound professional judgment in determine the auditing procedures, which will lend a reasonable basis for his opinion. In the case of unqualified opinion auditors should not make to be thought have represented that no undetected fraud exist or grant that the financial statement is of affair representation of the financial position and result of operation. for instance this implies that he should portray the expertise of the medical doctor in guaranteeing theta an operation will be successful.
The auditors responsibility to detect fraud is determine by audit survival instruct users demand and, regulatory imposition and requirement of financial statement.
Historical detection of fraud was and major audit objective influenced by Mckenons Robins case (1940) and the 1939 statement on auditing procedures No 1, extensions of audit procedures, which states that “ordinary examination incident to the starting of an opinion representing financial statement in not designed and can not be relied opinion to disclose defalcation and other similar irregularities.
My purpose of this term paper is to discuss the role an auditor performed in the conduct of an audit in an entity to the extent of this job, the qualification required of him, distinguishing his function to that of an accountant and to know when a report is qualified or unqualified. Thus auditing controls the financial activities of a company to our tail fraudulent act and to ascertain the true and fair view of the financial statement Of financial Statement of that company.
TABLE OF CONTENT
TITLE PAGE II
APPROVIAL PAGEIII
DEDICATIONIV
ACKNOWLEDGEMENTV
PREFACEVI
TABLE OF CONTENTVII
CHAPTER ONE
1.1INTRODUCTION1
1.2THEORITICAL FRAME WORK3
CHAPTER TWO
2.1MEANING OF AN AUDITING AND
AUDITOR4
2.2DIFFERENT BETWEEN ACCOUNTING
AND AUDITING7
2.3THE ROLE OF AUDITOR [INTERNAL
AND EXTERNAL]8
2.4EQUALIFY AND UNEQUALIFY
AUDIT REPORT11
2.5THE AUDITOR AS A WATCH DOG13
2.6COMPUTER AND AUDITING
[ROLE OF AUDITOR14
2.7AUDITOR LIABILITY18
2.8REMOVAL AND APPIONTMENT OF
AUDITOR 22
2.9CHANGES THAT HAVE OCCURRED IN THE DUTIES OF AUDITORS25
CHAPTER THREE
SUMMARY27
CONCLUSION28
RECOMMENDATION28
BILOGRAPHY30
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