What is the key or pivotal role of auditing firms, such as KPMG? Should be 5-6...

What is the key or pivotal role of auditing firms, such as KPMG? Should be 5-6 sentences

Expert Solution

	Key or pivotal role of auditing firms, such as KPMG
1	Major role of auditing firms includes validating financial information of the companies so its helps investors and other stakeholders to rely on the company they want to invest
2	Auditing firms by doing audit provide reasonable assurance that financial statement are free from misstatements and is presented fairly by rendering opinion on the financial statements
3	Auditing firm obtain overall and proper knowledge of the entities and its environment. To obtain this knowledge auditing firms perform risk assessment of the entity
4	Auditing are very essentially required to be independent and free from the client. A lack in this attitude may affect the assurance of external audit
5	Auditing firms are required to obtain sufficient audit evidence on the basis of riskiness of the entity being audited
6	Auditing firms are required to identify and report any fraud, non compliance with rules and regulation.

ekkarill92 answered 1 year ago

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