Warren Buffet’s Advice to Auditors

  • If the auditor were solely responsible for preparation of the company’s financial statements, would they have been prepared differently? And if “differently”, the auditor should explain both management’s argument and his own.
  • If the auditor were an investor, would he have received the information essential to understanding the company’s financial performance during the reporting period?
  • Is the company following the same auditor procedure that the auditor would if he himself were CEO? If not, what are the differences and why?

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