10-25-2002, 06:17 AM
Enron case has significantly damaged the image of auditors. this has led to the revolutionary measures in the field of global financial reporting. Weas the auditors have created terms like 'true and fair view' , 'materiality' , reasonable assurance' etc. but ironically we cannot define these terms properly. now the demands of the profession are that we act as auditors and accountants as well. we need to conduct our audit by going in deep into the accounting system of the client to identify the anomalies existing in the accounts.
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