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He msut not take any gift
of course no.
No,Because the Auditor may give a biased audit findings!
No Of Course, it will impair auditor independence.
Auditor is not supposed to accept any gifts from the client
Gifts are probably not allowable
BEING A PROFESSIONAL NOT TO DO SO CONCENTRATE ON WORK NOTHING TO BE OMMITTED DURING AUIDIT
Of course No, as per IMA princaiple the auditor can't accpet any kind of gifts from client as it may influence in his report and if any calim or worng happen later he will be judged as partner in this default
it will be mentioed as he know and didn't inform cause of the gift
The audit firm, those in a position to influence the conduct and outcome of the audit and immediate family members of such persons should not accept gifts from the audit client, unless the value is clearly insignificant. Those in a position to influence the conduct and outcome of the audit and immediate family members of such persons should not accept hospitality from the audit client, unless it is reasonable in terms of its frequency, nature and cost. The audit firm should establish policies on the nature and value of gifts and hospitality that may be accepted from and offered to audit clients, their directors, officers and employees, and should issue guidance to assist partners and staff to comply with such policies. In assessing the acceptability of gifts and hospitality the test to be applied is whether it is probable that a reasoned and informed third party would conclude that the objectivity of the auditors is likely to be impaired."
We all must be honest with each other , for Theoretically speaking it CAN'T happened or even think about it , But still a GIFT can be given to any one any where , it depends on the way and time of giving it , also the aim of it as well.
Yes, as long as the gift is minimal in value, and the acceptance of the gift will not construe any impairment of independence.
The rule of thumb for this query is on the ethical principle that auditors should be independent in fact and in appearance, in order to uphold the integrity of the profession.
