In my thesis I evaluated and assessed the activities of auditors in relation to the ethics of behavior in terms of legislation of the Czech Republic. I focused on the published cases of misconduct of auditors and the subsequent punitive sanctions. Ethical behavior is the basis for the auditor's professionalism. In connection with the accounting scandals and falsification of accounting and audit reports, the public began to discuss - among other things - auditors' liability for fraud detection leading to distorted accounts of the entities and the principles of ethical behavior started to get into the spotlight of auditors?, which was later enshrined in legal and professional standards including Code of Ethics of the International Federation of Accountants (IFAC). Expectations of many users of financial statements from the auditor's report are too high and usually go up beyond what the auditor can actually verify and confirm. However, it must be acknowledged that not all auditors are sufficiently aware of their responsibilities in relation to the distortion of financial statements due to fraud or misconduct, and adequately adapt their audit procedures due to them. Certainly worth mentioning is the most visible impact of accounting scandals in the accounting and auditing profession - the fall of Arthur Andersen, one of the former "Big Five" auditing firms. Accounting profession has responded by developing and tightening ethical standards with an emphasis on the conduct of professional accountants in the public interest, not only in the interests of individual clients or employers. The role of audit in society is irreplaceable. Quality of the audits undertaken, however, ultimately depends on the auditor's discipline and education, the control of the Council Chamber and also public oversight of auditing, as well as pressure of the users of financial statements and of the representatives on the appropriateness and quality of outputs. Ethics in the auditor's work and its compliance in life are the things that determine auditor?s reputation.
| Identifer | oai:union.ndltd.org:nusl.cz/oai:invenio.nusl.cz:126514 |
| Date | January 2012 |
| Creators | SVOJŠOVÁ, Pavlína |
| Source Sets | Czech ETDs |
| Language | Czech |
| Detected Language | English |
| Type | info:eu-repo/semantics/masterThesis |
| Rights | info:eu-repo/semantics/restrictedAccess |
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