Answered: Do the tax agent need to have a…

Business

Accounting

Do the tax agent need to have a professional scepticism? Or just professional judgement is enough

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Do the tax agent need to have a professional scepticism? Or just professional judgement is enough

Expert Solution

Step 1

Auditing means the inspection of financial accounts of the company to determine if the records are accurate as per the rules and regulations of accounting or not. There are two types of auditor’s i.e. internal auditors and external auditors that carry out the auditing process.

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