ADMS 4551 Chapter 4:

• School: York University
• Department: Administrative Studies
• Course: ADMS 4551
• Professor: Larry Yarmolinsky

Document Summary

Adms 4551 ch 4 84-98: objective of conducting an audit of fs, cas 200 purpose of fs audit express opinion on fs form of assurance to users. If fs unfair/insufficient evidence auditor notify users through auditor"s report. Laws & regulation with direct effect: direct effect on amounts & disclosures in fs, auditor obtain audit evidence about compliance. If discover non compliance required to obtain understanding of nature & act / effect on fs. Laws & regulations with indirect effect: compliance fundamental to operating aspects of org. / to its ability to continue business / avoid material penalties: auditor responsible to perform specified audit procedures help identify non compliance with indirect laws- procedures include. Inquiring of management entity in compliance with legislation or not. Inspecting correspondence with relevant licensing/regulatory authorities: but auditor should not search for illegal act unless reason to believe they exist.