1. Discuss the differences between the US and UK conviction paragraphs of the audited accountors announces. What pr make believeical go by up might these differences affirm? Â Â Â Â Â Â Â Â In general the commonplace realise that audit reputations take in the US in equation to that of the UK is very same. In twain countries the audit report seeks to outflow a second opinion as to the lividness of the monetary evidencements and in both cases for amount state the auditors opinion regarding the fairness of these deep down the context of the accepted accounting standards within that particular country. Â Â Â Â Â Â Â Â The two opinion paragraphs from the Caterpillar monetary report 2002 and the tag and Spencer 2002 at first read seem to state similar objectives which have been taken during the auditing, that of an independent party want to insure whether or not the pecuniary records of that particular entity have been compiled and produced to the standa rds that are mainly accepted and if not why so and that it will have been noted. A major difference lies in a dissimilar usage of wording in both audits. The US audit for Caterpillar states that the financial reports have been presented fairly in all bodily respects, the financial position of caterpillar inc.
and its subsidiaries at December 31, 2002, 2001 and 2000, and the results of their trading operations and their cash flows for each of the trey years in the goal ended December 31, 2002 in conformity with accounting principles generally accepted in the coupled states of America. The UK equivalent for this phrasing use in their Audits is as follows : the fin! ancial statements give a true(p) and fair view of the state of the personal business of the company and the convention at 29 March 2003 and the financial statements have been by rights prepared in accordance with the companies act 1985... If you want to get a full essay, order it on our website:
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