When the auditors from an audit firm in Johor Bahru are performing audits (Also see What is an External Audit?), besides following the audit principles, excellent auditors should possess some characteristics so that they may accomplish their tasks.
Auditors Must Be Trained
This is among the most basic requirement that the auditors need to satisfy. Excellent auditors must understand the accounting principles (Also see Financial Accounting – Basic Principles, Conventions and Assumptions) well besides knowing about the ways the entrepreneurs manage their business. They must at least possess a degree in business-related programs and acquire accreditation from an accounting standards organisation. Also, they need to have a wide range of experience in their tasks.
Auditors Need to Be Independent
Since independence is of utmost importance in an audit, it is a must for the auditor to be independent if they are required to remain objective in the entire audit process (Also see Introduction to Audit Procedures). The auditors should not hold any share in the company’s interests external to the audit they perform.
Auditors Should Implement Due Professional Care
Auditors need to fulfil the audit principles by practising due professional care in their works. Excellent auditors need to apply all their knowledge in business and accounting to determine whether the opinion that the company has conferred to the managers is reasoned and not biased. Besides, the auditors must be careful when they deal with confidential and sensitive information to make sure that the data will not fall into the wrong hands. The significance of this characteristic is that the auditors have a fiduciary duty to their client’s firm.
Auditors Need to Possess the Ability in Planning, Supervising and Being Efficient
Planning is the very first procedure of having a proper audit (Also see Introduction to Pre-audit). If the auditors fail to plan the audit well, the process is more likely to be ineffective. The auditors should delegate duties to the audit assistants and supervise them adequately. Also, the audit team needs to collect sufficient information to support its audit opinion after it has finished performing the audit.