The Role of an Auditor By Richard rignola.

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Presentation transcript:

The Role of an Auditor By Richard rignola

Introduction What does an auditor do? Why do we need them? What happens when auditors fail? Ethics and Sacred Heart University

The Job Auditing is a systematic process Auditors must communicate their findings to users Different kinds of auditors, internal and external Different kinds of audits, Financial Statement audit, ICFR, and an Integrated audit (both combined audits together)

Why We Need Auditors Required by law for public companies They ensure the company has accurate financial statements Financial statements impact individuals inside and outside the company Using judgement, knowing shareholder interests, and advising clients EY article on the future of assurance

History Has Shown Us Waste Management Scandal (1998) Enron Scandal (2001) WorldCom Scandal (2002) Sarbanes–Oxley Act of 2002

Auditing and Ethics Due Professional Care Moral Development Levels Pre-Conventional Conventional Post conventional Ethical Orientation Ethics of Rights Ethics of Care

Using Sacred Heart Concepts Social Justice The Human Experience The Common Good

Conclusion Human judgement can’t be replaced “Education is not the piling on of learning, information, data, facts, skills, or abilities - that's training or instruction - but is rather making visible what is hidden as a seed.” - Thomas More