DIL L A U NIVERSIT Y

Dilla University College of Business and

Economics
Department of Accounting and Finance
4th Year 2nd Semester
Auditing and Assurance Group assignment 1
No Group Name ID
1 ASIYA HEYREDIN 008/21
2 BIZUAYEHU MINTESINOT 021/21
3 BETELHEM MULUGETA 015/21
4 EKRAM TOFIK 028/21
5 GOSAYE ABEBE 037/21
6 HENOK KURZUNA 038/21
7 LIYUWORK HAILE 045/21

Auditing and assurance group assignment Page 1 Sept, 2024

Dilla Ethiopia
 SUBMITTED TO: Tr. ALMAZ
1. What are the differences and similarities in audits of financial statements, compliance
audits, and operational audits?
Financial Statement Audits
 Purpose: To assess the fairness and accuracy of a company's financial statements.
 Scope: Primarily focuses on financial information and compliance with accounting
standards.
 Methodology: Involves examining financial records, evaluating internal controls, and
issuing an opinion on the fairness of the financial statements.
Compliance Audits
 Purpose: To determine if an entity is adhering to specific laws, regulations, or contracts.
 Scope: Can cover a wide range of areas, including environmental regulations, tax laws,
and industry-specific standards.
Methodology: Often involves reviewing documentation, conducting interviews, and
testing compliance controls.
Operational Audits
 Purpose: To evaluate the efficiency and effectiveness of an organization's operations.
 Scope: Can examine various aspects of an organization, such as internal controls, risk
management, and performance.
 Methodology: Involves assessing the organization's goals, reviewing procedures, and
identifying areas for improvement.
Similarities
 All involve:
o Examining records and evidence
o Evaluating internal controls
o Using a systematic approach to gather and analyze information
Key Differences
Feature Financial Compliance Audit Operational Audit
Statement Audit
Focus Financial statements Adherence to laws and Efficiency and effectiveness
regulations of operations

Auditing and assurance group assignment Page 2

Scope Primarily financial
Varies based on specific Can cover a wide range of
laws and regulations areas
Methodology Emphasizes Focuses on compliance with Evaluates operations against
accounting standards specific requirements goals and objectives

2. Describe an ethical dilemma. How does a person resolve an ethical dilemma?

Ethical Dilemma: A Conflict of Interests
Scenario:
An auditor working for a large accounting firm is assigned to a client that is a major
pharmaceutical company. During the audit, the auditor discovers evidence of a significant safety
issue with one of the company's new drugs. The auditor believes that the drug poses a serious
risk to public health. However, the client's management is reluctant to recall the drug or issue a
public warning.
Ethical Dilemma:
The auditor faces a conflict between their professional duty to protect the public interest and
their obligation to maintain client confidentiality. On one hand, the auditor believes that
disclosing the safety issue is necessary to prevent harm to consumers. On the other hand, the
auditor fears that revealing the information could damage the client's reputation and have
negative financial consequences.
Resolving an Ethical Dilemma
Resolving an ethical dilemma often requires careful consideration of the following factors:
1. Professional Standards: The auditor should consult the relevant professional standards,
such as the Code of Professional Conduct issued by the AICPA or the IFAC. These
standards provide guidance on ethical principles and responsibilities.
2. Stakeholders: The auditor should consider the potential consequences of their actions on
various stakeholders, including the public, the client, the accounting firm, and their own
career.
3. Personal Values: The auditor's own personal values and beliefs can also influence their
decision-making.
4. Consultation: It can be helpful to discuss the dilemma with colleagues, mentors, or other
trusted individuals.

Auditing and assurance group assignment Page 3

 5. Courage: Ultimately, the auditor may need to make a difficult decision that involves
standing up for their principles, even if it means facing negative consequences.
In the case of the auditor and the pharmaceutical company, the auditor might choose to:
 Escalate the issue: Report the safety issue to the client's audit committee or board of
directors.
 Consult with a professional ethics hotline: Seek advice from an independent third
party.
 Resign from the engagement: If the client refuses to address the safety issue, the auditor
may decide to withdraw from the engagement.
3. The following questions relate to auditors’ independence
A. Why is independence so essential for auditors?
B. Compare the importance of independence of CPAs with that of other
professionals, such as attorneys.
Auditor Independence: A Cornerstone of Trust
A. Why is independence so essential for auditors?
Independence is a fundamental principle in auditing because it ensures that auditors can provide
objective and unbiased opinions on the financial statements they examine. Clients rely on
auditors to provide a fair and accurate assessment of their financial position, and this trust is
compromised if auditors have a vested interest in the outcome.
Here are some key reasons why independence is essential for auditors:
 Credibility: Independent auditors are more credible and trustworthy to clients, investors,
and other stakeholders.
 Objectivity: Independence allows auditors to provide an objective assessment of
financial information, free from undue influence or bias.
 Public Interest: Auditors serve a public interest function by ensuring that financial
information is reliable and accurate.
 Regulatory Requirements: Professional accounting bodies and regulatory authorities
impose strict independence requirements on auditors to protect the public interest.
B. Compare the importance of independence of CPAs with that of other professionals, such
as attorneys.

Auditing and assurance group assignment Page 4

While independence is important for many professionals, it is particularly crucial for auditors
due to their unique role in verifying financial information. Attorneys, for example, typically
advocate for their clients and may have a vested interest in the outcome of a case. However,
auditors must maintain objectivity and provide an independent assessment of financial
information, regardless of the client's wishes.
Here are some key differences in the importance of independence for CPAs and attorneys:
 Public Interest: Auditors serve a public interest function, while attorneys primarily serve
the interests of their clients.
 Objectivity: Auditors must maintain objectivity in their assessments, while attorneys
may advocate for their clients' interests.
 Regulatory Requirements: Auditors are subject to strict independence requirements
imposed by professional accounting bodies and regulatory authorities, while attorneys
may have fewer restrictions.
4. Assume that a partner of a CPA firm owns two shares of stock of a large audit client on
which he serves as the engagement partner. The ownership is an insignificant part of
his total wealth.
A. Has he violated the Code of Professional Conduct?
B. Explain whether the ownership is likely to affect the partner’s
independence of mind.
C. Explain the reason for the strict requirements about stock ownership in
the rules of conduct
Assessing the Partner's Stock Ownership
A. Has he violated the Code of Professional Conduct?
Yes, the partner has violated the Code of Professional Conduct. The Code generally prohibits a
professional accountant from owning any direct or indirect financial interest in a client. Even if
the ownership is insignificant, it creates a financial interest that could compromise the partner's
independence.
B. Is the ownership likely to affect the partner’s independence of mind?
While the ownership might seem insignificant, it can still affect the partner's independence of
mind. Even a small financial interest can create a psychological bias or pressure to avoid actions

Auditing and assurance group assignment Page 5

that might negatively impact the client's financial performance. This could lead to compromised
objectivity in the audit process.
C. Reason for strict requirements about stock ownership
The strict requirements about stock ownership in the rules of conduct are essential to maintain
public trust in the profession. Independence is a fundamental principle of auditing, and any
perceived conflict of interest can erode public confidence. Here are some key reasons for these
strict rules:
 Objectivity: Stock ownership can create a bias that affects the partner's objectivity in
evaluating the client's financial statements.
 Public trust: The profession relies on public trust to maintain its credibility. Any
perceived conflict of interest can damage this trust.
 Regulatory requirements: Many regulatory bodies, such as the Securities and Exchange
Commission (SEC) in the United States, impose strict independence requirements on
auditors.
 Professional standards: The accounting profession's ethical standards emphasize
independence as a core principle.
5. What are the differences and similarities of auditing, assurances and attestation serves?
Auditing, Assurance, and Attestation: A Comparison
While these terms are often used interchangeably, they have distinct meanings within the
accounting and financial reporting context.
Similarities
 Independent Professional Services: All three involve the provision of services by
independent professionals, typically accountants, auditors, or assurance professionals.
 Objective Evaluation: They aim to provide an objective evaluation of information,
systems, or processes.
 Enhancement of Credibility: The goal is to enhance the credibility of the information
being evaluated.
Differences
Auditing
 Scope: Primarily focused on financial statements.

Auditing and assurance group assignment Page 6

  Objective: To provide an opinion on whether the financial statements present fairly, in
all material respects, the financial position, results of operations, and cash flows of the
entity in accordance with applicable accounting standards.
 Report: Typically results in an audit opinion (e.g., unqualified, qualified, adverse, or
disclaimer).
Assurance
 Scope: Broader than auditing, encompassing various types of information, including
financial, non-financial, and operational.
 Objective: To provide a conclusion on the reliability of information or the effectiveness
of a system.
 Report: Can vary depending on the specific assurance engagement.
Attestation
 Scope: A subset of assurance services.
 Objective: To provide a written report on a subject matter or an assertion about the
subject matter that is the responsibility of another party.
 Report: Typically involves a written report expressing a conclusion about the subject
matter.
In essence:
 Auditing is a specific type of assurance service focused on financial statements.
 Assurance is a broader concept that encompasses various types of information and
evaluations.
 Attestation is a specific type of assurance service that involves providing a written report
on a subject matter.
To summarize:
Feature Auditing Assurance Attestation
Scope Financial statements Various types of information Specific subject matter
Objectiv Opinion on financial Conclusion on reliability or Conclusion on subject
e statements effectiveness matter
Report Audit opinion Varies Written repor

6. List and discuss ten Generally Accepted Auditing Standards recognized by AICPA ?

Auditing and assurance group assignment Page 7

 - Ten Generally Accepted Auditing Standards (GAAS) Recognized by AICPA
The Generally Accepted Auditing Standards (GAAS) are a set of guidelines established by the
American Institute of Certified Public Accountants (AICPA) to ensure the quality and reliability
of financial audits. These standards are used to guide auditors in conducting their work and
provide a framework for evaluating the quality of their audits.
Here are ten GAAS recognized by AICPA:
General Standards
1. Training: Auditors must have adequate training and experience to perform their duties.
2. Independence: Auditors must maintain independence in fact and appearance. This
means they must be free from any financial or personal relationships that could
compromise their objectivity.
3. Due Care: Auditors must perform their work with due professional care. This includes
exercising professional judgment and skill, and being diligent in their work.
Standards of Field Work
4. Planning: Auditors must plan their work and supervise assistants. This involves
developing a detailed audit plan, assigning responsibilities to team members, and
monitoring their work.
5. Supervision: Auditors must supervise assistants. This includes providing clear
instructions, reviewing their work, and ensuring that they are following proper
procedures.
6. Evidence: Auditors must obtain sufficient appropriate evidence to support their opinions.
This involves gathering evidence from various sources, such as financial records,
physical inspections, and inquiries.
7. Understandability: Auditors must understand the entity and its industry. This involves
gaining a thorough understanding of the client's business operations, financial reporting
requirements, and internal controls.
Standards of Reporting
8. Opinions: Auditors must express an opinion on the financial statements. This opinion
can be unqualified, qualified, or adverse, depending on the nature and severity of any
identified issues.

Auditing and assurance group assignment Page 8

 9. Consistency: Auditors must report on the consistency of the entity's accounting
principles. This involves evaluating whether the client has applied accounting principles
consistently from one period to the next.
10. Disclosures: Auditors must report on the disclosures in the financial statements. This
includes evaluating whether the disclosures are adequate and relevant to the
understanding of the financial statements.
7. Why it is necessary to have financial statements of enterprises annually audited by
independent auditors?
The necessity of annual audits of financial statements by independent auditors can be
attributed to several key reasons:
1. Investor Protection:
o Credibility of financial information: Independent audits provide investors with
assurance that the financial statements presented by a company are accurate,
reliable, and fairly represent the company's financial position and performance.
o Fairness and transparency: Audits help maintain the integrity of financial
markets by ensuring that companies provide investors with a clear and unbiased
view of their financial health.
2. Lender Confidence:
o Assessment of creditworthiness: Lenders rely on audited financial statements to
assess a company's creditworthiness and determine the risk associated with
providing loans or other forms of financing.
o Protection of interests: Audits help protect lenders' interests by ensuring that the
company's financial information is reliable and that it is complying with relevant
laws and regulations.
3. Regulatory Compliance:
o Adherence to standards: Many industries and regulatory bodies require
companies to have their financial statements audited to ensure compliance with
accounting standards and regulations.
o Prevention of fraud: Audits can help identify and prevent fraudulent activities
that could harm investors, creditors, and the public.
4. Internal Control Evaluation:

Auditing and assurance group assignment Page 9

 o Assessment of effectiveness: Audits can evaluate the effectiveness of a
company's internal controls, which are designed to prevent and detect errors and
fraud.
o Identification of weaknesses: By identifying weaknesses in internal controls,
audits can help companies improve their financial reporting processes and reduce
the risk of financial misstatements.
5. Enhanced Accountability:
o Transparency and responsibility: Independent audits can enhance a company's
accountability to its shareholders, creditors, and other stakeholders by providing a
level of assurance regarding the accuracy and reliability of its financial
information.
o Prevention of mismanagement: Audits can help deter mismanagement and fraud
by providing a check on the company's financial activities.
8. How does society as a whole benefit from the services of independent auditors, as contrasted
with benefits received by individual third parties?
Society as a whole benefits from the services of independent auditors in several ways:
1. Market Efficiency:
o Informed decision-making: Independent audits provide investors with reliable
financial information, enabling them to make informed decisions about where to
allocate their resources.
o Fair competition: When companies provide accurate and comparable financial
information, it fosters a level playing field and promotes fair competition in the
marketplace.
2. Economic Stability:
o Investor confidence: Independent audits help maintain investor confidence in the
financial markets, which is essential for economic stability.
o Reduced risk: By identifying and addressing potential risks in financial
reporting, audits can help prevent financial crises and promote economic stability.
3. Rule of Law:
o Enforcement of regulations: Independent audits play a crucial role in ensuring
that companies comply with accounting standards and regulations.

Auditing and assurance group assignment Page 10

 o Accountability: Audits hold companies accountable for their financial reporting
practices, promoting transparency and fairness.
4. Public Trust:
o Credibility of financial information: Independent audits enhance the credibility
of financial information, fostering public trust in the financial system.
o Protection of interests: Audits help protect the interests of consumers,
employees, and other stakeholders by ensuring that companies are reporting their
financial performance accurately.
Individual third parties, such as investors, lenders, and regulators, also benefit from the
services of independent auditors, but the benefits are more direct and focused on their
specific needs. For example:
 Investors benefit from the assurance that the financial information they rely on is
accurate and reliable.
 Lenders benefit from the reduced risk of lending to companies with financial problems.
 Regulators benefit from the ability to enforce accounting standards and regulations more
effectively.
9. Why is it necessary that public accountants maintain complete independence when
examining financial statements?
The necessity of public accountants maintaining complete independence when examining
financial statements is rooted in several key principles:
1. Objectivity:
o Unbiased judgments: Independence ensures that public accountants can make
unbiased judgments and avoid conflicts of interest that could influence their
opinions.
o Credibility: A perception of independence is essential for the credibility of
financial statements and the trust that investors, creditors, and other stakeholders
place in them.
2. Public Interest:
o Protection of stakeholders: Independence protects the interests of investors,
creditors, and other stakeholders by ensuring that financial statements are
presented fairly and accurately.

Auditing and assurance group assignment Page 11

 o Fairness and transparency: Independence helps maintain the integrity of
financial markets and promotes fairness and transparency in financial reporting.
3. Regulatory Requirements:
o Compliance with standards: Many regulatory bodies, such as the Securities and
Exchange Commission (SEC) in the United States, impose strict independence
requirements on auditors.
o Prevention of fraud: Independence helps prevent fraud and other financial
misconduct by ensuring that auditors are free from undue influence.
4. Professional Standards:
o Ethical principles: The accounting profession's ethical standards emphasize
independence as a core principle.
o Reputation: Independence is essential for maintaining the reputation and
credibility of the accounting profession.
10. What is the relation of IFRS/GAAP to the auditor’s function?
IFRS (International Financial Reporting Standards) and GAAP (Generally Accepted
Accounting Principles) are fundamental to the auditor's function. They provide a common
language and framework for financial reporting, ensuring consistency and comparability across
different jurisdictions.
Here's how these standards relate to the auditor's role:
1. Guidance and Framework: IFRS and GAAP provide a set of rules and guidelines that
auditors must follow when examining financial statements. These standards outline the
specific principles and procedures that should be used to prepare and present financial
information.
2. Consistency and Comparability: By adhering to IFRS or GAAP, auditors can ensure
that financial statements are prepared consistently and are comparable to those of other
companies in the same industry. This enhances the usefulness of financial information for
decision-making.
3. Evaluation of Financial Statements: Auditors use IFRS and GAAP to evaluate whether
a company's financial statements are presented fairly in accordance with these standards.
They assess whether the company has applied the appropriate accounting principles and
disclosed all relevant information.

Auditing and assurance group assignment Page 12

 4. Identification of Issues: IFRS and GAAP help auditors identify potential issues or
discrepancies in a company's financial statements. By comparing the company's practices
to the established standards, auditors can detect any deviations or errors.
5. Expression of Opinions: Auditors base their opinions on the financial statements on
their assessment of whether the statements are presented fairly in accordance with IFRS
or GAAP. If the statements comply with these standards, the auditor can issue an
unqualified opinion. However, if there are significant issues or deviations, the auditor
may issue a qualified or adverse opinion.
11. Under what circumstances may an auditor incur legal liability for failure to detect
fraud? Explain
An auditor can incur legal liability for failure to detect fraud under various circumstances,
including:
1. Negligence: If the auditor fails to exercise due professional care in conducting the audit,
and this negligence leads to a failure to detect fraud, they may be liable for negligence.
This includes situations where the auditor fails to follow generally accepted auditing
standards (GAAS) or fails to obtain sufficient appropriate evidence.
2. Gross Negligence or Fraud: If the auditor acts with gross negligence or engages in
fraudulent conduct, they may be held liable for their actions. This includes situations
where the auditor knowingly or recklessly disregards their professional duties or engages
in intentional misconduct.
3. Fraudulent Financial Reporting: If the auditor fails to detect fraudulent financial
reporting, and this failure results in harm to third parties, they may be liable. This
includes situations where the auditor's negligence or misconduct contributes to the
perpetuation of a fraudulent scheme.
4. Breach of Contract: If the auditor has a contractual obligation to detect fraud and fails
to do so, they may be liable for breach of contract. This includes situations where the
auditor's engagement letter specifically states that they are responsible for detecting
fraud.
5. Fraudulent Acts by Clients: In some cases, auditors may be held liable for fraudulent
acts committed by their clients, even if they did not directly participate in the fraud. This

Auditing and assurance group assignment Page 13

 is known as secondary liability and can occur when the auditor has a duty to prevent or
detect fraud and fails to do so.
12. Of what values are the rules of professional ethics relating to independence, when
independence itself is essentially a state of mind, which may be lacking even though
none of the rules relating to independence are violated.
The rules of professional ethics relating to independence, even though they may not directly
measure the state of mind of an auditor, serve several important purposes:
1. Objectivity and Impartiality: The rules provide a framework for maintaining an
objective and impartial stance, reducing the risk of bias or conflicts of interest that could
compromise the auditor's judgment.
2. Public Trust: Adherence to these rules helps maintain public trust in the accounting
profession. When auditors are seen as independent and unbiased, investors and other
stakeholders are more likely to rely on their work.
3. Regulatory Compliance: Many regulatory bodies, such as the Securities and Exchange
Commission (SEC) in the United States, impose strict independence requirements on
auditors. Compliance with these rules is essential to avoid legal and regulatory issues.
4. Professional Standards: The accounting profession's ethical standards emphasize
independence as a core principle. Compliance with the rules helps to uphold the
profession's reputation and integrity.
5. Risk Mitigation: The rules can help mitigate the risk of independence issues by
establishing clear guidelines and boundaries. By following these rules, auditors can
reduce the likelihood of situations that could compromise their independence.
13. Discuss why “contingent fee” is assumed to be compromise auditor’s independence.
Assess the actual practice of how audit fee is levied in Ethiopia and comment
Contingent Fees and Auditor Independence
Contingent fees, which are fees based on the outcome of an engagement, are generally
considered a compromise to auditor independence. This is because they can create a financial
incentive for the auditor to report favorably on the client's financial statements, even if they are
not accurate or complete. Such a conflict of interest can undermine the auditor's objectivity and
credibility.

Auditing and assurance group assignment Page 14

Reasons for the Assumption of Compromised Independence
 Financial Incentive: A contingent fee structure can create a financial incentive for the
auditor to provide a favorable opinion, even if the financial statements are materially
misstated. This can lead to a loss of objectivity and a potential conflict of interest.
 Public Perception: The public often views contingent fees as a sign of a lack of
independence. This perception can damage the reputation of the accounting profession
and erode public trust in financial reporting.
 Regulatory Restrictions: Many regulatory bodies, including the Securities and
Exchange Commission (SEC) in the United States and the Financial Reporting Council
(FRC) in the United Kingdom, prohibit auditors from accepting contingent fees for audit
engagements.
Audit Fees in Ethiopia
While I don't have specific information on the current practices of audit fee levying in Ethiopia,
it's likely that most firms charge fixed fees or hourly rates for their audit services. This is the
standard practice in many countries and is generally considered to be consistent with maintaining
auditor independence.
Fixed fees are calculated based on the estimated time and resources required to complete the
audit. This approach provides a predictable fee structure for both the auditor and the client.
Hourly rates are based on the time spent on the engagement, allowing for flexibility in case of
unforeseen circumstances.
However, it's important to note that there may be instances where auditors in Ethiopia negotiate
performance-based fees or success fees for certain types of engagements, such as consulting or
advisory services. These types of fees may be acceptable as long as they do not compromise the
auditor's independence in the primary audit engagement.
14. Public companies in Ethiopia hire the services of external auditors through open and
restricted bids. Comment on implication of this practice on the audit profession
Implications of Open and Restricted Bids for Public Companies in Ethiopia
The practice of public companies in Ethiopia hiring external auditors through open and restricted
bids can have both positive and negative implications for the audit profession:

Auditing and assurance group assignment Page 15

Positive Implications:
 Competition and Price Reduction: Open and restricted bids can increase competition
among audit firms, potentially leading to lower audit fees for public companies. This can
benefit shareholders and other stakeholders who are concerned about the costs of
financial reporting.
 Improved Quality: Competition can also encourage audit firms to improve the quality of
their services to attract clients. This can lead to better audits and more reliable financial
information.
 Transparency and Accountability: The bidding process can increase transparency and
accountability in the audit profession. By requiring firms to submit bids, public
companies can ensure that they are receiving fair and competitive pricing.
Negative Implications:
 Low-Ball Bidding: Audit firms may be tempted to engage in low-ball bidding to secure
clients, potentially compromising the quality of their work. This can lead to a race to the
bottom in terms of pricing and quality.
 Reduced Independence: The pressure to win bids can create a conflict of interest for
auditors, potentially compromising their independence. Firms may be more likely to
provide favorable opinions to retain clients or secure future business.
 Short-Term Focus: The focus on winning bids can lead to a short-term perspective,
where firms prioritize immediate financial gains over long-term relationships and quality.
This can negatively impact the reputation of the audit profession.
Overall, the practice of open and restricted bids for public companies in Ethiopia can be
beneficial if it is properly managed and regulated. It can promote competition, improve
quality, and increase transparency. However, it is essential to ensure that firms are not
compromising their independence or the quality of their work in order to win bids.
15. What is the responsibility of an independent audit with regards to profit tax?
- An independent auditor's responsibility with regards to profit tax is to ensure that
the company's financial statements accurately reflect the income tax expense and
related deferred tax assets and liabilities. This involves the following key tasks:
1. Understanding Tax Laws and Regulations: The auditor must have a thorough
understanding of the applicable income tax laws and regulations in the country where the

Auditing and assurance group assignment Page 16

 company operates. This includes staying updated on any changes or amendments to the
tax laws.
2. Assessing Tax Provision: The auditor must evaluate the company's income tax
provision, which is the amount of income tax expense recognized in the financial
statements. This involves verifying the accuracy of the calculations and ensuring that the
company has applied the appropriate tax rates and methods.
3. Examining Deferred Tax Assets and Liabilities: The auditor must assess the
company's deferred tax assets and liabilities. These are temporary differences between the
tax basis of assets and liabilities and their carrying amounts in the financial statements.
The auditor must ensure that these amounts are properly calculated and disclosed.
4. Evaluating Tax Compliance: The auditor may also need to evaluate the company's tax
compliance. This involves reviewing the company's tax returns and ensuring that it has
complied with all applicable tax laws and regulations.
5. Disclosure Requirements: The auditor must ensure that the company's financial
statements include adequate disclosures about its income tax expense, deferred tax assets
and liabilities, and any significant tax uncertainties.
It's important to note that while the auditor is responsible for ensuring the accuracy of the
financial statements, they are not responsible for determining the company's tax liability.
That is the responsibility of the company's tax department or tax advisor. However, the auditor's
work can help to identify potential tax issues and ensure that the company is reporting its income
tax expense accurately.

Auditing and assurance group assignment Page 17

Reference
 https://www.academia.edu/78371072/
Audit_Fees_Determinants_and_Audit_Quality_in_Ethiopian_Commercial_Banks
 https://viewpoint.pwc.com/us/en.html
 extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.etelsa.org/resources/
thesis/c5e6c2d2-40cc-11ed-8a53-0a0027000027/9ed697a3-4547-11ed-bf3b-
0a0027000027.pdf
 https://www.academia.edu/75922884/
Threats_to_Professional_Ethics_Among_Selected_Authorized_Accountants_and_Au
ditors_In_Ethiopia
 University modules

Auditing and assurance group assignment Page 18