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Financial Statements

Presented Annually Wide range of users


In preparing financial statements, a) GAAS in the Philippines b) International Accounting Standards c) Another authoritative and comprehensive financial reporting framework

Audit and Related Services

ASSURANCE
Auditors satisfaction as to the reliability of an assertion made by one party for use by another party.

Audit

Review

Agreed upon procedures

Compilations

OBJECTIVE

Financial Statements

It comprises inquiries and


analytical procedures which are designed to review the

reliability of an assertion.

Auditor is engaged to carry out those procedures of an audit nature to which the auditor and the entity and any appropriate third parties have agreed to report on factual findings.

Accountant is engaged to
use accounting expertise to

collect, classify and


summarize financial

information.

When the auditor attaches a report to that information or

consents to the use of the


auditors name in a

professional connection.

If the AUDITOR is NOT


associated,

third parties can


assume no responsibility of

the auditor.

1. Request the management to stop the

inappropriate association of auditors


name.

2. Inform any known third parties.


3. Seek legal advice.

Manilac Melissa Salcedo- Ranin

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