The original auditing profession objective is to provide an independent opinion regarding management assertions embodied in the financial statement(s). Decision makers, whether in private or public sector, should avoid committing themselves to strategic or tactical decisions unless they go through the audited financial statement(s). Thus the economy should have a well-developed auditing profession to be healthy one. I believe that a perceived healthy economy where the auditing profession is almost nonexistent is not necessarily sustainable and growing one.
The dilemma is how we can educate the stakeholders about the importance of the auditing profession role in the investment decision making processes?
