Integrity is the most important principle of auditing. The auditor is straight forward, honest and sincere in his approach. He must be fair towards his work. The auditors are known for their discretion and tactfulness. The loyalty toward his work and profession must be beyond doubt. Objectivity is a principle of auditing. He can not allow prejudices or bias to avoid the purpose of audit.
He can protect the rights of shareholders through this principle.
Independence is a principle of audit. The auditor maintains an impartial attitude. He should be and appear to be free of any interest. No doubt he receives fee from his client even then independence is essential. Confidentiality is a principle of auditing. The auditor can maintain secrecy of information acquired in course of his work. He can not disclose any information to a third party without specific authority. He can provide facts and figures to others under legal or professional duty.
Skill is a principle of auditing. The auditor must acquire skill of doing audit work. He must get training from his principle. The experience of all audit steps must be obtained. It is a stage of learning by doing. This skill will help him when he becomes independent auditor.
He can protect the rights of shareholders through this principle.
Independence is a principle of audit. The auditor maintains an impartial attitude. He should be and appear to be free of any interest. No doubt he receives fee from his client even then independence is essential. Confidentiality is a principle of auditing. The auditor can maintain secrecy of information acquired in course of his work. He can not disclose any information to a third party without specific authority. He can provide facts and figures to others under legal or professional duty.
Skill is a principle of auditing. The auditor must acquire skill of doing audit work. He must get training from his principle. The experience of all audit steps must be obtained. It is a stage of learning by doing. This skill will help him when he becomes independent auditor.