My Opinion of Auditor

What is an Auditor? 

  - Auditor is a person who appointed and authorized to examine accounts and accounting records, compare the charges with the vouchers, verify balance sheet and income items, and state the result.

Responsibilities of an Auditor

• Provide An Audit Report 
• Report Failure To Maintain Proper Books Of  Account 
• Duty To Report Indictable Offences
• Duty To Exercise Professional Integrity 

1) Provide An Audit Report

  Providing the audit report is the main responsibilities of an auditor. The auditor report should state the opinion of the auditor such as a qualified opinion, a disclaimer opinion and an adverse opinion. Auditor should make sure that the financial status give a true and fair view of the state of the company affairs. The auditors' report must be made available to every member and be read at the AGM.

A part of the Auditor Report 

( Sources : https://www.examples.com/business/audit-report.html )

2 ) Report Failure To Maintain Proper Books Of Account

  As an auditor, they have to check the company financial status. In order to make sure that, all the financial status from the company is real and accurate. If the auditor find out that a company did not kept proper books of account, they need to notify the company of this opinion. When there are a mistaken or wrongly record that found out by the auditor, the company are required to correct the account this situation within seven days. If the director are not taking the necessary steps, auditors must notify the Companies Registration Office of their opinion. 


3) Duty To Exercise Professional Integrity
   
    Auditor must carry out audit with professional integrity. This is because they may be liable to their company if they do not promise with their duty to exercise their skill. As an auditor, he/she has responsibility to profession comply.  

4) Duty To Report Indictable Offences

    Auditor have an important identity in a company. This is because auditor is the person who do the checking of company financial report. They will lead others to believe a company. Therefore, according to the Company Act, when auditor discover information they must report this to the Office of the Director of Corporate Enforcement (“ODCE”) and help the ODCE with their investigation of the report. 

My opinion of the 'Auditor' 

Auditor - a person or a firm appointed by a company to execute an audit.

    In my opinion,  Auditor is a person who need to help company check all the financial transaction in order to make sure all the transaction is accurate and real. 
     
    My impression of Auditor is their salary is high and it is the hardest job in the accounting industry. But in order way, working as an auditor is not that easy as we think. An auditor need to have enough patient to check all the transaction of a company. Although auditor not checking 100% of the financial statement, but still at least 50%. 

     Auditor need to check financial transaction every 3 months. Therefore, in that period auditor must always ready to work overtime. Sometimes, they need to work until midnight because of the due date of work. They need to sacrifice their sleeping time to done their work. 

       The higher the control risk, the lower the sampling risk, the company internal control is poor. When the company internal control is poor, auditor need to check more. Therefore, their workload will increase. 

       As an accounting student, I am very admire auditor. This is because they are very hardworking. Besides that, they also can endure the dislike of accountant. Last but not least, they can done the mountainous pile of work. 


     Below is a video that briefly describe about auditor work.

Sources : https://www.youtube.com/watch?v=VDya4ZPrLTc 

Publish by : Career Igniter, Date : Feb 3 2017, Titile : What does an auditor do?