Attributes of Auditors Discuss the three or more attributes that an auditors possess in order to maintain credibility. Explain the importance of these attributes to the audit
1) Subject Matter Knowledge - The assurance provider must be an expert in the area of service provided. Expertise in a complex body of knowledge sets the assurance professional apart from others.
2) Independence - The assurance provider must be unbiased, free from conflict of interest, objective and independent of the company receiving assurance services. This allows the professional to remain neutral and free from influence by parties with a vested interest in the outcome of assurance services.
3) Agreed Upon Criteria - Clear criteria must be available for the assurance provider to measure objectives and results against. In a financial statement assurance engagement, the criteria are represented by Generally Accepted Accounting Principles.
4) Process Expertise - Evidence is obtained and evaluated during the course of an assurance engagement. Professionals providing these services must be able to draw accurate conclusions based upon the results of testing competent, sufficient evidence obtained.
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