General financial statement audit standards are audit standards relating to the auditor’s requirements and the quality of work so that they are personal. The general standard includes three parts that are vital to auditing financial statements. Meanwhile, before we continue, we recommend you call the Rydalmere Xero Bookkeeper if you need trusted bookkeepers to assist your company.
Here are its 3 parts that you must know:
a. First part
This first part is a must, such as an audit carried out by someone or more who has the expertise and technical training in carrying out the duties of an auditor. In this section, it is expected that an auditor can always act professionally as an expert in the field of accounting and in the field of auditing. The auditor’s expertise can be obtained through formal education and with the experience gained while attending technical training.
b. The second part
The second part of the general audit standard is that the auditor must maintain the mentality of all matters relating to the engagement (independence). In this general standard, the auditor must be independent, may not be influenced by certain elements because his work is very useful for the public interest.
The general public must give confidence in the attitude of independence possessed by the auditor because it is very important for the development of the public accounting profession. In addition, an auditor must be intellectual and honest in carrying out the profession as an auditor.
c. Third part
The third part of the general audit standard is that the auditor is obliged to use his professional expertise in carrying out the audit and reporting carefully and thoroughly. In this section, the use of professional expertise emphasizes the responsibilities of every professional working in the auditor’s organization. An auditor must have a level of skill and must use his skills appropriately. Therefore, auditors are required to have a professional attitude and confidence in the evaluation of audit evidence.