Role of a Auditor

  • The auditor’s or reviewer’s job is to provide a professional and unbiased opinion on these financial statements.
  • A financial report review or audit can offer better responsibility to members and ensure that all money received by the organization has been accurately accounted for.
  • The audit committee should not rely on the auditor to uncover all errors and fraud in the financial statements.
  • The committee’s responsibility is to keep a constant check on the association’s financial statements.
  • The auditor’s job is to provide a professional opinion on the state of the organization’s finances.
  • Auditors are legally responsible for their views and can be held liable for carelessness or damage to the association if the audit is not done according to professional standards.
  • One of the primary topics that should be examined is tax compliance. The auditor is expected to provide immediate advice on all relevant procedures and keep the company up to date on any regulatory developments.
  • The Securities and Exchange Commission and other professional groups regulate the operations of publicly traded corporations.