識auditing 是否一定要識accounting呢?

1. Auditing is the compliance procedure, therefore, auditing is the compilation of financial data into information which is required by statue ie. disclosure under the HK Companies Ordinance and HK Statement of Standard Accounting Practice. Non-compliance of either statue or accounting standards can result in complaint to accounting authorities.
2. Accountants require only to compile necessary information for the management, which did not need to mark to market (fair value accounting) but the audited financial statements need to disclose under HKAS to use fair value. The disclosure of information may result in conflict between shareholders and management and therefore accountants tend to hide out information (either intentional or unintentional) but the auditors are obliged to disclose under HKAS.
3. Commercial practice may deviate from theoretical accounting practice or accounting standards but there was no such update or special tailoring of accounting standards for each and every industry, only guidelines were issued for insurance, banking and shipping companies.
4. Many accountants came from the auditing industry and the non-cooperative attitude only comes from pressure from management to hide out information because there was a need to produce reports to their need.
Hope it can be of help!

can run must can walk, however, can walk not need can run.

Best regards,
Samson So
www.tripro.com.hk