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t is often not possible to check things for yourself, whether quality, accuracy, performance or existence.
You might not have the skills or the time, or you might be in the wrong location. Therefore you must rely on someone else to give you assurance. This means you have to decide:
? What standards should be applied? Sir can you explain this to me I know you have expalained it in the the lecture video but I stull find it hard to understand this pointWelcome to my forum!
Are you quoting from the lecture? What point are you feeling you don’t understand? If asking what standards should be applied in an audit (which is one of many types of assurance), the answer is International Standards on Auditing (ISAs).
Sir I am quoting from the notes :
It is often not possible to check things for yourself, whether quality, accuracy, performance or existence.
You might not have the skills or the time, or you might be in the wrong location. Therefore you must rely on someone else to give you assurance. This means you have to decide:
? What standards should be applied?
? What represents ‘good’, ‘acceptable’ or ‘unacceptable?
? How much checking should be done? All checking and assurance has an associated cost.Can you please explain what standards should be applied mean
Sir I am quoting from the notes :
It is often not possible to check things for yourself, whether quality, accuracy, performance or existence.
You might not have the skills or the time, or you might be in the wrong location. Therefore you must rely on someone else to give you assurance. This means you have to decide:
? What standards should be applied?
? What represents ‘good’, ‘acceptable’ or ‘unacceptable?
? How much checking should be done? All checking and assurance has an associated cost.Can you please explain what standards should be applied mean
In any situation in which someone assures someone else about something, there must be some standards that apply to set a “benchmark”.
If you are in the UK, you may be aware that cars require an “MOT” three years after first registration and every year thereafter.
An MOT certificate provides assurance that a car meets road safety and environmental standards.
Also in the UK, with some exceptions, companies require an annual audit. An audit report provides assurance that financial statement meet financial reporting standards.
Do you get the idea?
so does the car being checked has to meet certain criteria/ standard in order to get the certificate is that the standard that is being referred to in the notes?
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