AUE3761 EXAM PACK 2025
Purpose / Need for an auditor – answer The auditor provides assurance to the user that
the information provided in the financial statement is reliable
Statutory audit – answer Required to be audited
Companies across - public interest score (above 350)
Non-statutory – answer Voluntarily
Stakeholders – answer
Suppliers
Creditors
Employees
Government
External auditors
Customers
Industry at large
Local communities
Media
Regulators
Potential investors
Objective of an auditor – answer To express an opinion, as to whether or not the
financial statement fairly presents, in all material aspects, the financial position of the
entity at a specific date, and the results of its operations and cash flow information for
the period ended on that date, in accordance with an identified financial reporting
framework and/or other statutory requirements
Auditor's Opinion (4 main point) - answer- The opinion has to be supported by evidence
- The opinion carries weight because of the profession surrounding the auditor.
This is increased by: Auditors academic knowledge (CTA; ITC; PPE), The practical
application of knowledge (Articles), The governing body of the profession (SAICA,
IRBA)
- The users "trust the auditors" opinion, as the auditor is a professional and is
independent.
- Code of ethics to abide by - the five principles
Auditor's Code of Ethics (5) – answer
Integrity
Objectivity
Professional competence and due care
Purpose / Need for an auditor – answer The auditor provides assurance to the user that
the information provided in the financial statement is reliable
Statutory audit – answer Required to be audited
Companies across - public interest score (above 350)
Non-statutory – answer Voluntarily
Stakeholders – answer
Suppliers
Creditors
Employees
Government
External auditors
Customers
Industry at large
Local communities
Media
Regulators
Potential investors
Objective of an auditor – answer To express an opinion, as to whether or not the
financial statement fairly presents, in all material aspects, the financial position of the
entity at a specific date, and the results of its operations and cash flow information for
the period ended on that date, in accordance with an identified financial reporting
framework and/or other statutory requirements
Auditor's Opinion (4 main point) - answer- The opinion has to be supported by evidence
- The opinion carries weight because of the profession surrounding the auditor.
This is increased by: Auditors academic knowledge (CTA; ITC; PPE), The practical
application of knowledge (Articles), The governing body of the profession (SAICA,
IRBA)
- The users "trust the auditors" opinion, as the auditor is a professional and is
independent.
- Code of ethics to abide by - the five principles
Auditor's Code of Ethics (5) – answer
Integrity
Objectivity
Professional competence and due care
