财务审计的合法义务（英文版）(ppt 40页)

财务审计的合法义务（英文版）内容提要：
     Audit professionals have a responsibility under common law to fulfill implied or expressedcontracts with clients.They are liable to their clients for negligence and/or breach of contract should they fail to provide the services or not exercise due care in their performance.It occurs when a business is unable to repay its lenders or meet heexpectations of its investors becauseof economic or business conditions.
    It occurs when the auditor issues an erroneous audit opinion as the result of an underlying failure to comply with the requirements of generallyaccepted auditing standards (GAAS).It represents the risk that the auditor will conclude that the financial statements are fairly stated and an unqualified opinion can be issued when, in fact, they are materially misstated. The most common source of  lawsuits against CPAsis from clients.

 

 

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