Audit Independence Concept

Audit Independence Concept

Independence in audit means form an unbiased conclusion which is based on the professional judgment. Independence also requires auditor act with integrity & honesty. Characteristics of independence has been elaborated below

1.    Influence Free Conclusion

Independence means that conclusion arrived by auditor is not influenced (free from all influences). Influences include both internal & external influences.

2.    Professional Judgment

Independence means that audit conclusion should be based on the professional judgment of the auditor alone, and should be free from every bias. Auditor supposed to act professionally in all circumstances.

3.    Integrity

Independence also means that auditor must act with integrity & honesty. It means that self interest should not govern the auditor judgment. Audit is an honorable & reputable profession and auditor should not damage the repute of profession.