Environmental Issues in a Financial Audit: Which Professional Standards Apply?

Abstract

Auditors are now concerned with environmental issues as some transactions may lead to loss contingencies which must be disclosed in financial statements. Reviews accounting principles concerning such contingencies and discusses auditing standards with regard to illegal acts, environmental specialists and reportable conditions. Refers to statements on auditing standards (SAS) concerning the client representation letter, lawyer's letter, going concern, audit report and communication with audit committee.

Citation

Colbert, J.L. and Scarbrough, C. (1993), "Environmental Issues in a Financial Audit: Which Professional Standards Apply?", Managerial Auditing Journal, Vol. 8 No. 5, pp. 26-32. https://doi.org/10.1108/eb017614