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Volume :13 Issue : 51 1987      Add To Cart                                                                    Download

AUDITOR’S RESPONSIBILITY IN THE UNITED ARAB EMIRATES, A THEORETICAL STUDY AND SURVEY

Auther : By: Dr. Kawthar Abdul Fattah Al-Abji

           This paper discusses two topics:

First: 

A theoretical study of the auditor’s responsibility in general and especially in the United Arab Emirates.  It includes:

 a)     Auditor’s responsibility towards clients.

b)    Auditor’s responsibility towards management.

c)     Auditor’s responsibility towards others’ viz state, users of financial reports and society.

d)    Audit report: the auditor’s responsibility towards managerial audit and towards social responsibility.

 Second:

           A survey of auditor’s opinion in the United Arab Emirates which shows the following:

a)     Most of the auditors recognize their responsibility towards clients according to the generally accepted auditing standards, despite the fact that they do not agree about its nature due to the fact that they are expatriates of different nations.

 b)     The responsibility of the auditor is limited towards the legal organization of companies.  Few auditors believe that they are not responsible towards the state.

 c)      Most of the auditors believe that they are responsible towards investors, creditors and banks, but not towards the officials and employees of companies.

 d)     Auditors are not in agreement about their responsibility towards each other.

 e)      Most auditors also believe in benefit of representing a copy of their reports to the Ministry of Economy and Commerce although they never thought of that before.

 f)       Auditors of the big financial firms believe that the managerial audit should be mandatory for the activity of the state.

 The Governments of the Gulf countries must coordinate their efforts and adopt an effective strategy to deal with these problems, especially those related to Asian laborers.  The basic elements of such strategy are: developing the skill and efficiency of the indigenous labor force to change it into an active factor in socio-economic development, increasing the numbers of the Arabs – not Asians – in the sectors suffering from the shortage of native labour force and dealing on an equal footing with the indigenous population and the Arab migrant.

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