Conduct appropriate research into codes of practice and ethics for conducting an quality audit. Explain your findings.

 

Codes of practice and ethics for conducting an quality audit

Step-by-step explanation

All professions such as those of law,medicine,accountancy ,etc have formulated rules and regulations for the guidance of members for their respective profession and also in the interest of the public.The accounting bodies have formulated such rules and regulations for the members to win the confidence of the public and their clients since they posses a great deal of information of the business of their clients and which information can be used by them to the detriment of their clients.It is the duty of the auditors that the information which they give about a public company is correct.If the information given is incorrect as result of which the investing public suffers,it may not rely on the accounts certified by the auditors.

An auditor should

1)Engage himself in the practice of accountancy.

2)Offers to perform or perform services involving the auditing or verification's of financial transactions,books,accounts,or records,or the preparation,verification or certification of financial accounting and related statements or holds himself out to the public as an accountant.

3)Renders professional services or assistance in or about matters of principle or detail relating accounting procedure or the recording ,presentation or certification of financial facts or data.