ESSENTIAL QUALITIES OF AN AUDITOR: -
Following are the essential qualities of an auditor: -
1. PROFESSIONALLY COMPETENT:
It is the basic quality of an auditor. He must have a complete and thorough knowledge of the accountancy. To understand the accounting details he can apply his knowledge and skill. It is only possible if he has a sound background in accountancy and he is professionally competent.
This is the personal quality of an auditor. He should have the high moral standard. It is his duty to report on the fact basis. The auditor must be honest and sincere with his profession. He is responsible not to sign nay paper which is no correct under his observation.
3. UP TO DATE KNOWLEDGE:
An auditor’s knowledge of auditing must be up to date. He must know the techniques of auditing. He must have the knowledge of other subjects relating auditing.
4. KNOWLEDGE OF BUSINESS / MERCANTILE LAW:
It is the professional quality of an auditor to aware of the mercantile law, he has a complete knowledge of Contract Act, Sales of good act, Agency, Negotiable instruments Act, Partnership Act etc..
5. KNOWLEDGE OF TAXATION LAW:
It is also a professional quality of an auditor. He is aware of income tax ordinance 1979, sales tax and excise act, and wealth tax etc. this is helpful in checking the correct return of income etc.
It is also important quality of an auditor that he should be intelligent. He must be able to understand the technical details of any business.
For a professional auditor it is necessary that he should be charted accountant. According the company’s ordinance 1984 it is essential qualification for auditor.
It is also the personal quality of an auditor. Technical information is required to comment and criticize the policies of management. In case of missing can collect it from the client.
9. MAINTAIN SECRECY:
It is another basis personal quality of an auditor. In the business world there is a keen competition. And if the auditor does not care of the secrecy of the business, then the client of the auditor has to face a lot of difficulties. So, the auditor must maintain the cent percent secrecy among the clients.
It is also the personal quality of auditor when any document is received by him he cannot make hurry to sign it oh express or implied promise to provide the proof later on. In spite of it he personally checks the records to know the true views.
11. CRITICAL ATTITUDE:
The attitude of an auditor must be positive. By this quality he can get the desirable results due to favorable thinking. If he is confused about some matters he can go into the details to clear it.
12. BOLD AND COURAGEOUS:
Auditor should be bold and courageous person. Any authority should not influence him. He should possess the courage to face the difference of opinion between him and client on any issue.
It is an important quality, which the auditor should possess. His attitude towards the staff of client should be very humble and polite. He should also stress on his own staff to be courteous with the client.
14. BUDGET PREPARATION:
The auditor has a quality of preparing the budget. According to the facts and figures of the previous year, the estimates are established for the next year. The auditor own check that these budgets are according to their facts and corrects.
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