What is a shareholder usually a remote owner? Why does the fact that shareholders are remote owners cause them to benefit from an audit?
Answer to relevant QuestionsHow can a company benefit from an audit in terms of its operations and performance?What standards does the AICPA produce in addition to auditing standards?What is the value of auditors going through a formal process of linking management assertions to audit procedures to collect evidence? How does this process improve the audit?You are the auditor for a non-public company, “A Golden Rule Carpentry”. The company has a 12/31 fiscal year end. During your audit, you did not identify any material misstatements in the financial statements. ...Go to the PCAOB Web site (www.pcaobus.org). What do the Auditing Standards issued by the PCAOB as of the current date cover? Are there any standards that are currently proposed but not yet final?
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