Q1 Q1

Question 1

Point 1 for duties of Statutory Auditor

Answer 1

Responsibility of ennsuring that stakeholders can trust the fairness and eligibility of financial statements.
Their job is to check these financial statements follow IFRS Rules, and accurately reflect the company’s financial position, performance, and cash flow.

Question 2

Option 2 Duties of a Statutory Auditor

Answer 2

Need to assure there are no mistakes on financial statements, whether it is accidental or fraud
Use ISA to gather enough relevant evidence to back up their judgement on financial statements.

Question 3

Option 3 Statutory Audiotr duties

Answer 3

Need to make sure that financial statements represent an accurate image of the company’s financial situation.
This can be done by checking over internal controls, assessing any possible errors, carrying out auditing procedures to gather enough evidence.