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Evolution and development of auditing

Authors: FREGENE Olajumoke , & AJIBADE Ayodeji

Publication Type: Journal article

Journal: Unique Journal Of Business Management Research

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Abstract

The history of Accounting, stewardship and total separation of the roles of agents from principal beget Auditing history. This study adopted exploratory method by reviewing relevant extant literatures. We traced the history of auditing and evaluated the various dynamics of duties of auditors over the years. It was discovered that the duties of auditors have changed over time. The original functions assigned to the auditors in the inception was to detect fraud and help ease the mind of the principal by ascertaining that the agents have shown the true financial situation of the business. Much later in history, this duty changed since auditors are not guarantors and there is no way they can ascertain 100% that the report prepared and presented by the agents are free from fraud, therefore, the auditors were expected to give reasonable skill and care in giving their opinion on whether the financial statements faithfully represent the financial situation of the business. The roles of auditors were seen to be changing due to changes in the world at large as such this paper evaluated the effect of fraud cases on the evolving auditing roles. We concluded that the past indeed influenced the present and subsequently the future through the use of CAATs, therefore auditors should strive towards understanding their roles as these have been the main bane in audit history

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FREGENE,O. AJIBADE,A. . (0000). Evolution and development of auditing, 3 (), 32-32.

FREGENE,O. AJIBADE,A. . "Evolution and development of auditing" 3, no (), (0000): 32-32.

FREGENE,O. and AJIBADE,A. and . (0000). Evolution and development of auditing, 3 (), pp32-32.

FREGENEO, AJIBADEA, . Evolution and development of auditing. 0000, 3 ():32-32.

FREGENE,Olajumoke , and AJIBADE,Ayodeji . "Evolution and development of auditing", 3 . (0000) : 32-32.

F.Olajumoke & A.Ayodeji , "Evolution and development of auditing" vol.3, no., pp. 32-32, 0000.

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