Auditors need to possess the following qualities.
Independence
Auditors cannot give unbiased opinions unless they
are independent of all the parties involved. There is a dilemma here in that
auditors receive their fees from the
are independent of all the parties involved. There is a dilemma here in that
auditors receive their fees from the
client. Nonetheless, independence is very
important. Not only must auditors be independent in fact and in attitude of mind
but they must also be seen to be independent.
Competence
Auditors must be thoroughly trained and prove their
competence before they can sign an audit report. Parliament has decreed that only
members of certain professional bodies can become auditors of limited
companies. These professional bodies (the three institutes of chartered
accountants and the association of chartered certified accountants) have
developed competence in their members by using difficult examinations, and
post-qualifying education. In addition, there are requirements before members
can become and continue to be registered auditors.
competence before they can sign an audit report. Parliament has decreed that only
members of certain professional bodies can become auditors of limited
companies. These professional bodies (the three institutes of chartered
accountants and the association of chartered certified accountants) have
developed competence in their members by using difficult examinations, and
post-qualifying education. In addition, there are requirements before members
can become and continue to be registered auditors.
Integrity
Qualified accountants are renowned for their
honesty, discretion and tactfulness. Auditors authorized by their professional
bodies to conduct audits are known as roistered auditors. Registered auditor
firms are supervised and inspected by their professional bodies acting as
recognized supervisory bodies.
honesty, discretion and tactfulness. Auditors authorized by their professional
bodies to conduct audits are known as roistered auditors. Registered auditor
firms are supervised and inspected by their professional bodies acting as
recognized supervisory bodies.