Introduction
An audit is the measures for conducting financial statements and accounting data. Auditors must independently assess the financial plans and publish an opinion on their accuracy. Specialists conduct fieldwork and send the results to head offices with recommendations and opinions. Employees should expect the auditors to provide reasonable assurance about the reliability of the documentation and a list of recommended actions designed to improve performance.
Discussion
Auditors issue a final opinion on whether the fiscal period they audited is credible and converges with plans. The staff expects to receive an independent assessment of the state of the reports and a characterization of the functional state of the financial system as a whole (Epstein, 2014). This assessment is an identifier of their performance and the integrity of operations. The Sarbanes Oxley Act is the primary legislation governing the other misconduct of personnel (Sarbanes Oxley Act, 2023). It states that internal control as part of the audit should also be structured so that staff has sufficient protection in the presence of errors on the part of the auditors. Auditors should make a list of recommendations for future actions and justify their applicability – if the auditor fails in the communication role, staff will not be able to correct errors (Olojede et al., 2020). In addition, the staff expects that the recommendations received are in line with the company’s request, as errors in misunderstanding the audit objectives can lead to severe deviations in the auditors’ conclusion.
Conclusion
Consequently, the role of the audit is to provide a fair and independent assessment of the financial transactions and reports that the client company sends in for review. In rendering an audit opinion, the staff expects to receive this evaluation detailing the reliability of transactions that would support the effectiveness of their work. In addition, auditors should provide recommendations for reporting improvements or changes so that staff can challenge and discuss decisions.
References
Epstein, L. (2014). Financial decision making: An introduction to financial reports. Bridgepoint Education.
Olojede, P., Erin, O., Asiriuwa, O., & Usman, M. (2020). Audit expectation gap: An empirical analysis. Future Business Journal, 6(10). Web.
Sarbanes Oxley Act – summary of key provisions. (2023). Sarbanes Oxley Act 101. Web.