Publication: Auditors and Independence
Date
2006-01
ISSN
Published
2006-01
Author(s)
World Bank
Abstract
Independence is a concept of fundamental
importance in business relations and corporate governance.
It is above all crucial in auditing, which provides a
guarantee of the integrity of the numbers on which an
efficient allocation of capital within the capital market
system depends. The job of auditors is to express an
independent opinion on whether financial statements are
reliable and credible. They report on the statements'
compliance with the law and accounting standards and,
depending on the jurisdiction, whether the accounts prepared
by the board reveal either a fair, or a true and fair,
picture of economic reality.
Citation
“World Bank. 2006. Auditors and Independence. Private Sector Opinion; No. 4. © World Bank, Washington, DC. http://openknowledge.worldbank.org/entities/publication/b159c022-8c14-5ed6-a2b5-7412e2eb0b0f License: CC BY-NC-ND 3.0 IGO.”