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would you please list few conditions in which an auditor may be penalized?
thank you.
In what context? If he’s playing football and he goes in with his studs showing, then he can expect to be penalised.
Or maybe you meant “In what circumstances may an auditor find himself / herself in trouble from the Joint Disciplinary Committee?” There are many examples from such simple matters as “Failing to reply to a professional letter” to the more exotic ones of bringing the profession into disrepute ( he had been stealing ladies’ underwear from their washing lines ) or “Failing to plan an assignment adequately” – Colonel “Mad” Mike Hoare ( an accountant ) hijacked an aeroplane with his band of mercenaries, ordered it to be flown to the Seychelles where he led an unsuccessful attempt to overthrow the Government.
:)sry for the vague question and thank you very much for the attempt.
I meant what mistakes of an auditor while auditing might lead him to the court?if this is still not precise then I can try again.
thank you again.
“Failing to plan an assignment adequately”
does that mean that there was a material mistake in the FS but he couldn’t detect it?
Hi
If an auditor is guilty of issuing an inappropriate audit opinion, then he / she may well find themselves in Court being sued for compensation.
The circumstances behind the issuance of an inappropriate opinion are limitless in number – inadequate audit procedures, insufficiency of evidence gathered, carrying out the audit in a manner not consistent with Auditing Standards, failure to spot a material misstatement.
Is this what you mean by “mistakes of an auditor while auditing”
Or are you looking at civil wrongs like trying to cheat the railway authorities by failing to buy a train ticket?
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