ADM 4341 Lecture Notes - Audit Risk, Relate, Crazy Eddie

• School: University of Ottawa
• Department: Administration
• Course: ADM 4341
• Professor: Chris Liboiron

Document Summary

Last class: what is right or wrong, what is required to become an audit professional, midterm question, we do we need a code of conducts, ranking of alternatives for an ethical dilemma. Accountability relationship: an accountability relationship is a prerequisite for an assurance engagement. exists when, (the accountable party) is answerable to and/or is responsible to another party (the user) for a subject matter. Someone is accountable to someone else about something. You are responsible for someone about something. Assurance concepts: how does the practitioner form a conclusion, bench marks, conditions that , complex, remoteness, consequences. Users: there are three underlying conditions that affect demand by users for information. Levels of assurance: two distinct levels of assurance - a high level and a moderate level, no way of having absolute assurance, what are some evidence for high assurance, independent conformation, inspection, observation, inquiry and analysis.