International Finance and Accounting Handbook

15 • 12 Country Title of Auditor Source of Authority Licensing Procedures Training Asia and Pacific (Continued)Philippines Certi ...

15 • 13 Africa and Middle EastSaudi Arabia Registered Accountant Ministry of Commerce; Application is made to the Professional a ...

of the Society of Management Accountants are not required to hold degrees. Com- pletion of a qualifying examination is also comm ...

certain experience requirements. Candidates for reciprocal recognition, who qualify by passing the local knowledge examinations ...

15 • 16 Country Required to Be Audited Election of Auditor Objective or Purpose of Audit Sources of Auditing Standards North and ...

15 • 17 United States Companies traded on a Recommendation by the The expression of an opinion Statements on Auditing national s ...

15 • 18 Country Required to Be Audited Election of Auditor Objective or Purpose of Audit Sources of Auditing Standards Europe (C ...

15 • 19 staff employed during thefinancial years—50 units.The Auditing Firm is compul-sory for listed companies andother entitie ...

15 • 20 Country Required to Be Audited Election of Auditor Objective or Purpose of Audit Sources of Auditing Standards Europe (C ...

15 • 21 Japan Corporations with more than Under the Commercial Law The Commercial Law Code No Commercial Law Code; 500 million y ...

15 • 22 Country Required to Be Audited Election of Auditor Objective or Purpose of Audit Sources of Auditing Standards Asia and ...

15 • 23 Africa and Middle EastSaudi Arabia All businesses whose owners By shareholders and/or To enhance the credibility of Saud ...

phrases “present fairly” or “give a true and fair view” are equivalent terms. As can be seen in Exhibit 15.2, both phrases are w ...

15 • 25 Responsibility for Country Ethical Standards Enforcement Legal Liability Detection of Fraud North and South AmericaArgen ...

15 • 26 Responsibility for Country Ethical Standards Enforcement Legal Liability Detection of Fraud North and South America (Con ...

15 • 27 EuropeThe Netherlands The Rules of Conduct for Complaints received by the Criminal and civil liability for In principle, ...

15 • 28 Responsibility for Country Ethical Standards Enforcement Legal Liability Detection of Fraud Europe (Continued)Italy The ...

15 • 29 Germany A code of ethics covers A self-regulated body can Unlimited liability to clients Expected to conduct the legally ...

15 • 30 Responsibility for Country Ethical Standards Enforcement Legal Liability Detection of Fraud Asia and Pacific (Continued) ...

15 • 31 Korea (South) The Korean Institute of The KICPA enforces stan- Auditors face legal liability The auditor is not expected ...