You have free access to this content
Seven. The Auditing Function
Published Online: 20 APR 2011
DOI: 10.1002/9781444395907.ch7
Copyright © 2011 Ronald Duska, Brenda Shay Duska, and Julie Ragatz
Book Title
Accounting Ethics, Second Edition
Additional Information
How to Cite
Duska, R., Duska, B. S. and Ragatz, J. (2011) The Auditing Function, in Accounting Ethics, Second Edition, Wiley-Blackwell, Oxford, UK. doi: 10.1002/9781444395907.ch7
Publication History
- Published Online: 20 APR 2011
- Published Print: 11 MAR 2011
Book Series:
Book Series Editors:
- W. Michael Hoffman,
- Robert E. Frederick
ISBN Information
Print ISBN: 9781405196130
Online ISBN: 9781444395907
- Summary
- Chapter
Keywords:
- the auditing function;
- case of KPMG and New Century - examples, of serious ethical pressures in accounting professions;
- financial markets and economic systems - society carving out a role for independent auditors;
- ethics of public accounting - and responsibilities of independent auditors;
- free market economy, and base transactions and decisions - truthful and accurate information;
- trust, and application of Immanuel Kant's - first categorical imperative, the universalizability principle;
- cooperation, vital and trust - a precondition of cooperation;
- universalizing misrepresentation, besides leading - to mistrust, chaos, and inefficiencies in the market, making the act of misrepresentation impossible;
- auditor's responsibility to the public - attesting to fairness of financial statements, imbuing accountants with special responsibilities to the public;
- professional skepticism, independence - being crucial, auditor's responsibility to maintain professional skepticism
Summary
This chapter contains sections titled:
The Ethics of Public Accounting
Trust
The Auditor's Responsibility to the Public
The Auditor's Basic Responsibilities
Independence
Independence Risk
Professional Skepticism
Reasonable Assurance