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Study on Regulation of Auditing Profession

   

Added on  2020-04-13

10 Pages1533 Words52 Views
Running head: AUDITINGAuditingName of the studentName of the universityAuthor note

1AUDITINGTable of ContentsQuestion 5..................................................................................................................................2Regulation of auditing profession..............................................................................................2Reference....................................................................................................................................8

2AUDITINGQuestion 5Regulation of auditing professionAudit regulatory bodiesAccounting and Corporate Regulatory Authority (ACRA) registers the publicaccountants, publishes information and monitors their work. The audit administration ofACRA is administered under Accountants Act by Public Accountants Oversight Committee(PAOC) (Schultz 2017).Regulator’s objective and roleConducts the training and outreach the sessions for the company directors,international partners, corporate service providers, ACRA staffs and aspiring ownersof the businessEnhances and reviews business processes of ACRA and the standard of qualityservicesResponsible for all the budgetary decision of ACRA, financial reporting andaccounting process (Yee et al. 2017).Drives efforts for combating financing and money laundering of the terrorism underthe purview of ACRA and regulates the sectors of corporate service provider. Oversees the corporate performance and strategic planning in the statistical research,planning of business community, planning efforts and enterprise risk management.

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