Role of Auditing to the Advancement of Civilization April 8, 2012

2013 Role of Auditor and that of Audit Profession in Advancing the SocioEconomic status of Our Society.

Role of Auditor and that of audit profession in advancing the Socio- conomic status of our societ! "anuar! 10, 2013

A#u $aser %d& Shahin A'anda ()!pe the compan! name* 1+10+2013

Role of Auditor and that of audit profession in advancing the Socio- conomic status of our societ! "anuar! 10, 2013

University of Dhaka

Program: MBA (Evening)

Department of Accounting & Information ystem
Assignment on: Role of Auditor and that of audit profession in advancing the SocioEconomic status of our society u!"ect: #ontemporary Au$iting #ourse #o$e: %&'(
u!mitte$ to: Prof) Dr) *ia+ur *ahman #ho,$hury -acu.ty of Business tu$ies University of Dhaka

u!mitte$ !y: A!u /aser M$) hahin Akan$a I$) /o) : 00&&0'12 Batch: &0st Date of u!mission:0'th 3anuary4&'0(

Role of Auditor and that of audit profession in advancing the Socio- conomic status of our societ! "anuar! 10, 2013

5etter of 6ransmitta.
0'th 3anuary 4 &'0( Dr) *ia+ur *ahman #ho,$hury Professor -acu.ty of Business tu$ies University of Dhaka

Subject: u!mission of term paper on Role of Auditor and that of audit profession in advancing the SocioEconomic status of our society.

Dear ir4 7ith $ue respect4 I here,ith the app.ication su!mit the term paper4 you have assigne$ us4 name.y4 Role of Auditor and that of audit profession in advancing the Socio-Economic status of our society . In term paper I ,as $e.ighte$ to come through various contri!ution of au$iting to the society4 the ,ho.e pro"ect ,as thorough.y en"oya!.e an$ inspiring) In the preparation of this term paper4 I trie$ to focus on various re.ate$ issues4 ,hich are re.evant ,ith this paper) I strive to present our intensity !est at the time of preparation of this term paper) I am very much $e.ighte$ to !e a!.e to ,ork on such an assignment an$ I am eru$ite a .ot an$ thank you sir)

8ours sincere.y4 A!u /aser M$) hahin Akan$a ID9 00&&0'12

Role of Auditor and that of audit profession in advancing the Socio- conomic status of our societ! "anuar! 10, 2013

Ackno,.e$gement
At the very !eginning4 I ,ou.$ .ike to e:press my $eepest gratitu$e to the a.mighty A..ah for giving me the strength an$ the a!i.ity to finish the task ,ithin the sche$u.e$ time) I am $eep.y in$e!te$ to our honora!.e teacher; Prof. Dr. Riazur rahman chowdhury for his ,ho.e< hearte$ strives to $o this $uring the semester) =is va.ua!.e suggestions an$ gui$ance he.pe$ me a .ot to prepare the report in a ,e..<organi+e$ manner)

E:ecutive ummery
Au$iting p.ays a vita. ro.e in society as a contro. mechanism) It makes a manager more accounta!.e) Au$iting a.so helps society to be more advance and ultimately it ensures a civilized society. In real sense the people don t belief the manager due to their inherent tendency to manipulate business or economic actions to their favor. !hat s "hy audit has come to remove this barrier. #y relying on audit report sta$e holder can be assured that "hat actually manager did. If "e belief business has contribution to the advancement of society that time I "ould li$e to say audit has also enriched the business. !hough all "ill be meaningless if an auditor is not independent and for better discussion "e assume that an auditor is independent. %hile the historical demand for auditing services developed from contractual relationships bet"een shareholders and manager& recent economic& social& and regulatory trends are creating demand for assurance service to ma$e business activities better understanding from the o"ners& investors as "ell as social point of vie". 7e kno, au$it a.so he.ps an organi+ation to ensure effective corporate governance ,ithin the organi+ation .ike interna. au$it) In this ,ay there are many other types of au$it those are he.ping the !usiness as ,e.. as society to go ahea$ one step more) In this report4 I have trie$ to mention the $ifferent ro.e an$ contri!ution of au$it to the advancement of civilization as "ell as society. 'rom this point of vie"& I have discussed many topics regarding the role and contribution of audit li$e philosophy of au$iting4 contri!ution of au$iting to the society4 ro.e of au$its in financia. crisis4 au$iting an$ the i$ea. transparency4 the ro.e of au$it in !usiness4 au$iting profession creates va.ue for society4 ro.e of au$it (Interna.) in enterprise risk management an$ so on an$ so for

Role of Auditor and that of audit profession in advancing the Socio- conomic status of our societ! "anuar! 10, 2013

!able of (ontents
Topics Introduction What is an Audit Philosophy of Auditing !he Evolution of Auditing Practices #ontri$ution of Auditing to the Society Role of Audits in &inancial #risis Role of Auditors in #orruption Investigations Auditing and the Ideal !ransparency Role of Audit in (oney )aundering Role of Audit ,Internal- in Enterprise Ris. (anagement !he contri$ution of Auditing in #orporate /overnance !he Role of Audit in 0usiness &orensic Auditing in /overnment1 An A$solute 2ecessity Auditing Profession #reates 3alue for Society #A/ #reates 3alue for Pu$lic ,04&indings #onclusion Pages 2 2-3 4-" % % ' *+ 00 *2 *2-*3 *3-*4 02 01 01<0> *"-*' *'