What is the responsibility of Mistakes in Financial Statements ?

Thanks for the invitation, Accounts department is responsible for mistakes in the financial statements and external auditors have responsibility to find out that mistakes and highlight to board or management of the company.

It is sole responsibility of company management to prepare financial statement of the company. While auditor are hire to express his opinion about financial statement whether the financial statement are free from fruad or error. Auditor is never responsible for mistakes in financial statement but can advise management to rectify the identified mistakes. Thank you. I hope you got my point.

First,thanks for invitation. I choose Option 1- The company Because the accompanying audited consolidated financial statements or  “financial statements”  is the responsibility of the company and all the information in this financial report are the responsibility of its management and are approved by the Board of Directors.

Justification:

1-The company's management 

The financial statements have been prepared by management in accordance with International Financial Reporting Standards. When alternative accounting methods exist, management has chosen those it considers most appropriate in the circumstances. The significant accounting policies used are described by the company to the financial auditors either internal or external . Certain amounts in the financial statements are based on estimates and judgments. Management has determined such amounts on a reasonable basis in order to ensure that the financial statements are presented fairly, in all material respects. Management has prepared the financial information presented elsewhere in the financial report and has ensured that it is consistent with that in the financial statements.

2-The Company’s Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”)

They are responsible for establishing and maintaining disclosure controls and procedures and internal control over financial reporting.  The CEO and the CFO have supervised an evaluation of the effectiveness of the Company’s internal control over financial reporting, .Based on this evaluation, the CEO and the CFO have concluded that the Company’s internal control over financial reporting,  was effective to provide reasonable assurance regarding the reliability of the Company’s financial reporting and the preparation of its financial statements for external purposes in accordance with applicable accounting principles.

3-The Board of Directors

Responsible for ensuring that management fulfills its responsibilities for financial reporting and is ultimately responsible for reviewing and approving the financial statements. The Board of Directors carries out this responsibility principally through its Audit Committee. The Audit Committee is appointed by the Board of Directors, and all of its members are independent directors. The Audit Committee meets periodically with management, as well as with the internal and independent auditors, to discuss disclosure controls and procedures, internal control over financial reporting, management information systems, accounting policies, auditing and financial reporting issues, to satisfy itself that each party is properly discharging its responsibilities, and to review the financial statements, the Management’s Discussion and Analysis and the independent auditor’s report.

 4-The Audit Committee

It reports its findings to the Board of Directors for consideration when approving the financial statements for issuance to the shareholders. The Audit Committee also considers, for review by the Board of Directors and approval by the shareholders, the engagement or reappointment of the independent auditor, and reviews and approves the terms of its engagement as well as the fee, scope and timing of its services. The financial statements have been audited, on behalf of the shareholders, , the independent auditor, in accordance with generally accepted auditing standards.

5-The independent auditor

Has full and free access to the Audit Committee and may meet with or without the presence of management.

Adopted from: investors.snclavalin.com/.../2013_annual_financial-statements-and-notes

I leave the answer to experts specialists

The option 1 is the right answer.

First, thank u for invitation

 

External Auditor is responsible for the data provided to him and if he was aware of material misstatement he has to note that according to what required by international auditing standards

Internal auditor is also responsible to the Directors' But if he was aware of fraud or deceit he's obligations determined by the internal audit standards

The administration is responsible for the design of internal control system is a special preparation of financial statements and presented in a fair and free of material misstatement  that arising from fraud or error

The administration must choose the appropriate accounting policies and making An accepted accounting estimates

 

The correct option is >>>>>>>>>>>>> (1) The company.

The responsibility of mistakes in the financial statements lies with the management of the company. The external auditor is responsible only to express an opinion based on sample selection. He is not supposed to point out every error in the financial statement, as his work is based on sample selection. The shareholders are not involved in any means in preparing financial statements, so they can never be held responsible for errors in the financial statement.

Accounting errors encountered by the internal auditor when the examination of books and records to multiple types If we look at it from different angles divided among them the following:

First, in terms of the availability of the intent to commit an error: unintended mistakes:

Unintended mistakes in the financial statements represent:

· Or the so-called clerical errors in the accounting records and data accounting errors

· Resulting from lack of knowledge of generally accepted accounting principles that should be applied according to each case errors

· Arising from omissions or interpretation of the facts contrary to an explanation of what ought to be errors

Unintended errors: unintended errors:

The unintended errors in the financial statements mean errors, which aims to:

· Change these lists data contrary to truth and reality, these errors arise as a result of changing the amount of elements of financial statements:

·. Drop impact of an event or a particular process on the financial statements

·. Hide your documents a specific process and not recognized in the books.

· The application of accounting principles generally accepted way to Ataatlaim with the nature of a particular process intentionally and deliberately.

· Show the value of assets contrary to the actual value in line with the interests of senior management or a staff member or a project-related parties.

There is no doubt that the unintended errors more dangerous than unintended mistakes as they have a great influence over the significance of financial data in various forms.

Last definition of mistakes in terms of the availability of the intent to commit:

The international audit guide No. 1 "objective and scope of the Audit of Financial Statements" and the handling of this issue did not divide the intended or unintended errors, but were classified as follows:

Error or fraud:

On the grounds that the error was unintentional The scam is intended especially after the alarm on the accountants to follow the regulations, and includes fraud following matters:. Falsification or distortion or change records and documents

. Misappropriation of assets.

. Delete or cancel the results of operations of the records or documents.

. Registration of fictitious operations.

. Lack of proper link accounting policies.

-------------------------------------------------- -------

Secondly, in terms of how to commit error and nature:

A mis-deleted:

It means the errors that arise as a result of not being one of the parties or the whole process of the daily ledger books or daily assistance or a result of not deport both ends of the process (debtor and creditor) or one of them to their own accounts ledger or ledgers help

And deletion errors may be intentional such as not prove the employee in charge of the process of monetary arrest and embezzlement of its value, or non-registration of incoming cash from hand ledger and used to cover the embezzlement or the inability of the treasury. Albeit under the automated system has no deportation ledger or daily way, hand it automatically is done by computer, but still not computerized data entry error Ward has the same results

Deletion unintentional errors may be, if the employee forgets the accounts under deportation or exchange or supply ledger assistant professor after substantiated daily ledger

The discovery of this type of error depends on the extent of the deletion, which was, if the deletion altogether, any failure in the whole process of the discovery of this type of deletion errors be difficult, not only come to review documentary minutes. If the partial deletion, if the accountant overlook the deportation of one of the parties to the process to its ledger account, it is easy to discover such a mistake because of its lack of balance in my account the stage where the error occurred

-------------------------------------------------- -------

B Artkabah errors:

Namely that it arises because of a mistake in the calculations of the collection or subtraction, multiplication or as a result of an error in the deportation or rationalizing accounts. Alaratkabah and errors may be intentional, such as adding fake names to the lists of unofficial wages (pay for work) or migrate amounts received from the item into account another item, and may be unintentional

There is no doubt that the existence of a sound system of internal control and the use of computers reduces the incidence of such errors

-------------------------------------------------- -------

(C) errors in accounting principles or assets:

Namely that it arises as a result of an error in the application or follow generally accepted accounting principles in the transaction processing books during registration or deportation or inventory adjustments or preparation (financial statements report the financial position). These technical errors may arise as a result of lack of knowledge of the accounts department staff to these principles. In this case, these errors are not deliberate. It may be committing these technical errors deliberately measure earlier intent to show the financial status report on what it really is

And technical errors is one of the most dangerous types of errors because of their effect on the financial statements, therefore the internal auditor must give it great interest. There is no doubt that his experience and his knowledge of the assets and the accounting principles generally accepted in this important area. The decisions and circulars government action which serves as the internal regulations set by the private owners of the project shall not be violated in any way

-------------------------------------------------- -------

D asymmetrical errors:

It means the mistakes that match up with each other so that erases a mistake after another mistake books. Equal and prevents errors of their impact on the balance of the trial balance thereby increasing the difficulty of detection. References will not be possible to detect such errors unless Probe on the review of documentary and calculation. Parity may be between two mistakes in one account, have a wrong impact on the financial statements or financial status report, where the total is true. Parity errors may be in two different accounts thereby creating a variation or a mistake in the health of balances in these accounts have consequent impact on the financial position report

-------------------------------------------------- -------

(E) errors reveal or disclose for themselves:

It is those mistakes that appear automatically, or which discloses the same result follow the theory of double-entry books to prove their operations, or as a result of the policies followed generally accepted in Bookkeeping

Then surely that a double-entry theory and the resulting balance of my account at all stages of the accounting system, leading to the discovery of some errors. Failure arithmetic balance in any phase of the accounting system based on double-entry means there is an error at that point

On the other hand, with independent scales use the total daily regimen, notebooks, lead to the disclosure or disclosure of some of the errors that may exist in the accounts, and follow the specific policies in the maintenance of their accounts, as the setting of the settlement of the accounts of banks and a review of extra-budget accounts diary, It may lead to the discovery of what may be found to these accounts from mistakes

Third, in terms of their impact on the balance of the trial balance:

It shows no errors not disclosed trial balance:

Trial Balance has balanced despite the presence of errors in the books is unable to detect. Examples of such errors:

A deportation to the wrong account if it was used were similar threads secretariats account under the settlement instead of the secretariats allowances account to calculate the points where each competence account and this error can be avoided with a prior censorship

Error in the accounting guidance or technical error as already knew such as: use an account deposited in the Central Bank of Kuwait's revenues Part II - Group 1 item 6 Type 5 instead of the use of item 4 Type 1 of the same group and the door in the (off-budget accounts) to under the process of revenue for the Ministry of Finance, or it may be deliberately mistake was using the account balance with a surplus instead of a deficit for another exploit

-------------------------------------------------- -------

The most important reasons for committing accounting errors

The most important reasons for committing the books accounting errors:

Because there are errors books and records, in fact to two main reasons:

Ignorance or a lack of awareness by the trading, including accounting data in various stages of sound accounting principles and generally accepted among accountants or laws, resolutions and circulars to government accounting and related to the implementation or migrate or display this data in the form of financial statements and the report of financial position

B negligence or omission of the accounts department staff in the performance of what has been entrusted to them by the acts

The aim of committing deliberate errors

The aim of committing deliberate errors:

Looking at the goal from committing these errors we split intentional fraud or forgery, which may be found books and accounts into two groups:

Group I:

1) in order to hide the deficit Oosu use of assets by manipulating the books and records

2) the aim of theft of cash by not prove the cash received from a debtor to hand cash ledger or the debtor's account

3) the aim of embezzling Mkhoznah materials or used to cover thefts from stores predecessor by not prove incoming materials stores records or proof of bills Exchange imaginary

The methods in digital 3-4 easily do twice the internal control system in government agencies for non-application of Circular No. 3 of 1983 on the identification and organization of the reign of materials. In general, whenever the internal control system is weak and tainted by the weakness of many loopholes it easy for weak people to commit this type of fraud or manipulation of the books points

Group II:

They do manipulating the books and records in order to influence the extent to sign the financial statements report the financial position, with the aim of exploiting the items that surplus As previously mentioned on page 9 via the ramp deposit account or manipulation with labels own accounts

Citizen committing errors:

As is known, the work and the accounting procedures of the three stages are:

First:

Date books enrollment phase.

Stage classification and migration to a special ledger accounts

Extraction and preparation of financial statements and report financial center stage

We will review the later examples of some of the errors at every stage:

Registration books of the initial enrollment phase:

And the field to make mistakes at this stage can occur in one or more of the following images:

A - is a sound analysis of the financial operations:

It is well known that the accounting assets and registration books of the first registration required to begin with the process initiated by the analysis and identification of both ends of the debtor and the creditor, here accountant may err in directing one of the parties to the process to the correct account deliberately or out of ignorance to the principles of accounting generally accepted and assets (laws and government decisions and circulars ). This error may, for example, leads to confusion between the expenses or Title V terms and the first instance by giving Subscription Other names for disbursement of the fifth door with regular salaries it is unique to the first door

B - Delete operations should have been recorded:

Examples of such multi many this error, Ohunha falls for omissions and negligence of the most serious and what is intentional

(C) registrations should not have been recorded:

An example of this error is to do the Ptalip amounts to calculate the secretariats under fictitious documents, to the exhaustion of items that have a surplus even balance in the final account shows zero, and thus may request for the same item adoption of the budget for the coming years, which can not afford the request made for the item has not exhausted in the past Previous

Stage assembly and deportation:

Not without this stage the likelihood of errors, if an error occurs in the compilation of diaries assistance or deportation to the wrong accounts, and the error has been located in rationalizing the accounts books of the teacher or during the preparation of trial balances

Preparation of financial statements stage:

Needless to say, the last stage in the accounting data, we mean the preparation and filming and preparation of financial statements and is usually preceded by restrictions of locks and settlements of accounts tolerate a lot of errors include the following phase:

A - error in making the necessary adjustment expenses pertaining to two fiscal years, annual budget application of the principle of recording and what did not score in the calculation of the Covenant or the secretariats

(B) the launch of the names of some of the terms of these lists do not reflect the true reflection of the nature of these items, such as food recording for employees within the food to non-staff etc.

Citizen committing accounting errors

Citizen committing errors:

As is known, the work and the accounting procedures of going through three phases: the first phase of registration books of enrollment

Stage classification and migration to a special ledger accounts

Extraction and preparation of financial statements and report financial center stage

We will review the later examples of some of the errors at every stage:

Registration books of the initial enrollment phase:

And the field to make mistakes at this stage can occur in one or more of the following images:

A - is a sound analysis of the financial operations:

It is well known that the accounting assets and registration books of the first registration required to begin with the process initiated by the analysis and identification of both ends of the debtor and the creditor, here accountant may err in directing one of the parties to the process to the correct account deliberately or out of ignorance to the principles of accounting generally accepted and assets (laws and government decisions and circulars ). This error may, for example, leads to confusion between the expenses or Title V terms and the first instance by giving Subscription Other names for disbursement of the fifth door with regular salaries it is unique to the first door

B - Delete operations should have been recorded:

Examples of such multi many this error, Ohunha falls for omissions and negligence of the most serious and what is intentional

(C) registrations should not have been recorded:

An example of this error is to do the Ptalip amounts to calculate the secretariats under fictitious documents, to the exhaustion of items that have a surplus even balance in the final account shows zero, and thus may request for the same item adoption of the budget for the coming years, which can not afford the request made for the item has not exhausted in the past Previous

Stage assembly and deportation:

Not without this stage the likelihood of errors, if an error occurs in the compilation of diaries assistance or deportation to the wrong accounts, and the error has been located in rationalizing the accounts books of the teacher or during the preparation of trial balances

Preparation of financial statements stage:

Needless to say, the last stage in the accounting data, we mean the preparation and filming and preparation of financial statements and is usually preceded by restrictions of locks and settlements of accounts tolerate a lot of errors include the following phase:

A - error in making the necessary adjustment expenses pertaining to two fiscal years, annual budget application of the principle of recording and what did not score in the calculation of the Covenant or the secretariats

(B) the launch of the names of some of the terms of these lists do not reflect the true reflection of the nature of these items, such as food recording for employees within the food to non-staff etc.

agree with mr  HASSAN AHMED

Accounting errors encountered by the internal auditor when the examination of books and records to multiple types If we look at it from different angles divided among them the following:

First, in terms of the availability of the intent to commit an error: unintended mistakes:

Unintended mistakes in the financial statements represent:

· Or the so-called clerical errors in the accounting records and data accounting errors

· Resulting from lack of knowledge of generally accepted accounting principles that should be applied according to each case errors

· Arising from omissions or interpretation of the facts contrary to an explanation of what ought to be errors

Unintended errors: unintended errors:

The unintended errors in the financial statements mean errors, which aims to:

· Change these lists data contrary to truth and reality, these errors arise as a result of changing the amount of elements of financial statements:

·. Drop impact of an event or a particular process on the financial statements

·. Hide your documents a specific process and not recognized in the books.

· The application of accounting principles generally accepted way to Ataatlaim with the nature of a particular process intentionally and deliberately.

· Show the value of assets contrary to the actual value in line with the interests of senior management or a staff member or a project-related parties.

There is no doubt that the unintended errors more dangerous than unintended mistakes as they have a great influence over the significance of financial data in various forms.

Last definition of mistakes in terms of the availability of the intent to commit:

The international audit guide No. 1 "objective and scope of the Audit of Financial Statements" and the handling of this issue did not divide the intended or unintended errors, but were classified as follows:

Error or fraud:

On the grounds that the error was unintentional The scam is intended especially after the alarm on the accountants to follow the regulations, and includes fraud following matters:. Falsification or distortion or change records and documents

. Misappropriation of assets.

. Delete or cancel the results of operations of the records or documents.

. Registration of fictitious operations.

. Lack of proper link accounting policies.

-------------------------------------------------- -------

Secondly, in terms of how to commit error and nature:

A mis-deleted:

It means the errors that arise as a result of not being one of the parties or the whole process of the daily ledger books or daily assistance or a result of not deport both ends of the process (debtor and creditor) or one of them to their own accounts ledger or ledgers help

And deletion errors may be intentional such as not prove the employee in charge of the process of monetary arrest and embezzlement of its value, or non-registration of incoming cash from hand ledger and used to cover the embezzlement or the inability of the treasury. Albeit under the automated system has no deportation ledger or daily way, hand it automatically is done by computer, but still not computerized data entry error Ward has the same results

Deletion unintentional errors may be, if the employee forgets the accounts under deportation or exchange or supply ledger assistant professor after substantiated daily ledger

The discovery of this type of error depends on the extent of the deletion, which was, if the deletion altogether, any failure in the whole process of the discovery of this type of deletion errors be difficult, not only come to review documentary minutes. If the partial deletion, if the accountant overlook the deportation of one of the parties to the process to its ledger account, it is easy to discover such a mistake because of its lack of balance in my account the stage where the error occurred

-------------------------------------------------- -------

B Artkabah errors:

Namely that it arises because of a mistake in the calculations of the collection or subtraction, multiplication or as a result of an error in the deportation or rationalizing accounts. Alaratkabah and errors may be intentional, such as adding fake names to the lists of unofficial wages (pay for work) or migrate amounts received from the item into account another item, and may be unintentional

There is no doubt that the existence of a sound system of internal control and the use of computers reduces the incidence of such errors

-------------------------------------------------- -------

(C) errors in accounting principles or assets:

Namely that it arises as a result of an error in the application or follow generally accepted accounting principles in the transaction processing books during registration or deportation or inventory adjustments or preparation (financial statements report the financial position). These technical errors may arise as a result of lack of knowledge of the accounts department staff to these principles. In this case, these errors are not deliberate. It may be committing these technical errors deliberately measure earlier intent to show the financial status report on what it really is

And technical errors is one of the most dangerous types of errors because of their effect on the financial statements, therefore the internal auditor must give it great interest. There is no doubt that his experience and his knowledge of the assets and the accounting principles generally accepted in this important area. The decisions and circulars government action which serves as the internal regulations set by the private owners of the project shall not be violated in any way

-------------------------------------------------- -------

D asymmetrical errors:

It means the mistakes that match up with each other so that erases a mistake after another mistake books. Equal and prevents errors of their impact on the balance of the trial balance thereby increasing the difficulty of detection. References will not be possible to detect such errors unless Probe on the review of documentary and calculation. Parity may be between two mistakes in one account, have a wrong impact on the financial statements or financial status report, where the total is true. Parity errors may be in two different accounts thereby creating a variation or a mistake in the health of balances in these accounts have consequent impact on the financial position report

-------------------------------------------------- -------

(E) errors reveal or disclose for themselves:

It is those mistakes that appear automatically, or which discloses the same result follow the theory of double-entry books to prove their operations, or as a result of the policies followed generally accepted in Bookkeeping

Then surely that a double-entry theory and the resulting balance of my account at all stages of the accounting system, leading to the discovery of some errors. Failure arithmetic balance in any phase of the accounting system based on double-entry means there is an error at that point

On the other hand, with independent scales use the total daily regimen, notebooks, lead to the disclosure or disclosure of some of the errors that may exist in the accounts, and follow the specific policies in the maintenance of their accounts, as the setting of the settlement of the accounts of banks and a review of extra-budget accounts diary, It may lead to the discovery of what may be found to these accounts from mistakes

Third, in terms of their impact on the balance of the trial balance:

It shows no errors not disclosed trial balance:

Trial Balance has balanced despite the presence of errors in the books is unable to detect. Examples of such errors:

A deportation to the wrong account if it was used were similar threads secretariats account under the settlement instead of the secretariats allowances account to calculate the points where each competence account and this error can be avoided with a prior censorship

Error in the accounting guidance or technical error as already knew such as: use an account deposited in the Central Bank of Kuwait's revenues Part II - Group 1 item 6 Type 5 instead of the use of item 4 Type 1 of the same group and the door in the (off-budget accounts) to under the process of revenue for the Ministry of Finance, or it may be deliberately mistake was using the account balance with a surplus instead of a deficit for another exploit

-------------------------------------------------- -------

The most important reasons for committing accounting errors

The most important reasons for committing the books accounting errors:

Because there are errors books and records, in fact to two main reasons:

Ignorance or a lack of awareness by the trading, including accounting data in various stages of sound accounting principles and generally accepted among accountants or laws, resolutions and circulars to government accounting and related to the implementation or migrate or display this data in the form of financial statements and the report of financial position

B negligence or omission of the accounts department staff in the performance of what has been entrusted to them by the acts

The aim of committing deliberate errors

The aim of committing deliberate errors:

Looking at the goal from committing these errors we split intentional fraud or forgery, which may be found books and accounts into two groups:

Group I:

1) in order to hide the deficit Oosu use of assets by manipulating the books and records

2) the aim of theft of cash by not prove the cash received from a debtor to hand cash ledger or the debtor's account

3) the aim of embezzling Mkhoznah materials or used to cover thefts from stores predecessor by not prove incoming materials stores records or proof of bills Exchange imaginary

The methods in digital 3-4 easily do twice the internal control system in government agencies for non-application of Circular No. 3 of 1983 on the identification and organization of the reign of materials. In general, whenever the internal control system is weak and tainted by the weakness of many loopholes it easy for weak people to commit this type of fraud or manipulation of the books points

Group II:

They do manipulating the books and records in order to influence the extent to sign the financial statements report the financial position, with the aim of exploiting the items that surplus As previously mentioned on page 9 via the ramp deposit account or manipulation with labels own accounts

Citizen committing errors:

As is known, the work and the accounting procedures of the three stages are:

First:

Date books enrollment phase.

Stage classification and migration to a special ledger accounts

Extraction and preparation of financial statements and report financial center stage

We will review the later examples of some of the errors at every stage:

Registration books of the initial enrollment phase:

And the field to make mistakes at this stage can occur in one or more of the following images:

A - is a sound analysis of the financial operations:

It is well known that the accounting assets and registration books of the first registration required to begin with the process initiated by the analysis and identification of both ends of the debtor and the creditor, here accountant may err in directing one of the parties to the process to the correct account deliberately or out of ignorance to the principles of accounting generally accepted and assets (laws and government decisions and circulars ). This error may, for example, leads to confusion between the expenses or Title V terms and the first instance by giving Subscription Other names for disbursement of the fifth door with regular salaries it is unique to the first door

B - Delete operations should have been recorded:

Examples of such multi many this error, Ohunha falls for omissions and negligence of the most serious and what is intentional

(C) registrations should not have been recorded:

An example of this error is to do the Ptalip amounts to calculate the secretariats under fictitious documents, to the exhaustion of items that have a surplus even balance in the final account shows zero, and thus may request for the same item adoption of the budget for the coming years, which can not afford the request made for the item has not exhausted in the past Previous

Stage assembly and deportation:

Not without this stage the likelihood of errors, if an error occurs in the compilation of diaries assistance or deportation to the wrong accounts, and the error has been located in rationalizing the accounts books of the teacher or during the preparation of trial balances

Preparation of financial statements stage:

Needless to say, the last stage in the accounting data, we mean the preparation and filming and preparation of financial statements and is usually preceded by restrictions of locks and settlements of accounts tolerate a lot of errors include the following phase:

A - error in making the necessary adjustment expenses pertaining to two fiscal years, annual budget application of the principle of recording and what did not score in the calculation of the Covenant or the secretariats

(B) the launch of the names of some of the terms of these lists do not reflect the true reflection of the nature of these items, such as food recording for employees within the food to non-staff etc.

Citizen committing accounting errors

Citizen committing errors:

As is known, the work and the accounting procedures of going through three phases: the first phase of registration books of enrollment

Stage classification and migration to a special ledger accounts

Extraction and preparation of financial statements and report financial center stage

We will review the later examples of some of the errors at every stage:

Registration books of the initial enrollment phase:

And the field to make mistakes at this stage can occur in one or more of the following images:

A - is a sound analysis of the financial operations:

It is well known that the accounting assets and registration books of the first registration required to begin with the process initiated by the analysis and identification of both ends of the debtor and the creditor, here accountant may err in directing one of the parties to the process to the correct account deliberately or out of ignorance to the principles of accounting generally accepted and assets (laws and government decisions and circulars ). This error may, for example, leads to confusion between the expenses or Title V terms and the first instance by giving Subscription Other names for disbursement of the fifth door with regular salaries it is unique to the first door

B - Delete operations should have been recorded:

Examples of such multi many this error, Ohunha falls for omissions and negligence of the most serious and what is intentional

(C) registrations should not have been recorded:

An example of this error is to do the Ptalip amounts to calculate the secretariats under fictitious documents, to the exhaustion of items that have a surplus even balance in the final account shows zero, and thus may request for the same item adoption of the budget for the coming years, which can not afford the request made for the item has not exhausted in the past Previous

Stage assembly and deportation:

Not without this stage the likelihood of errors, if an error occurs in the compilation of diaries assistance or deportation to the wrong accounts, and the error has been located in rationalizing the accounts books of the teacher or during the preparation of trial balances

Preparation of financial statements stage:

Needless to say, the last stage in the accounting data, we mean the preparation and filming and preparation of financial statements and is usually preceded by restrictions of locks and settlements of accounts tolerate a lot of errors include the following phase:

A - error in making the necessary adjustment expenses pertaining to two fiscal years, annual budget application of the principle of recording and what did not score in the calculation of the Covenant or the secretariats

(B) the launch of the names of some of the terms of these lists do not reflect the true reflection of the nature of these items, such as food recording for employees within the food to non-staff etc.

 

The responsibilities of mistakes in financial statements belongs to The External auditors.