1. Discuss the historical perspective of auditing with regard to Limperg (1930s) and Mautz and Sharaf (1960s). 2. Discuss the arguments supporting the idea that auditing is a field of knowledge. What...

1. Discuss the historical perspective of auditing with regard to Limperg (1930s) and Mautz and Sharaf (1960s).

2. Discuss the arguments supporting the idea that auditing is a field of knowledge. What are the contributions of Mautz and Sharaf in this area?

3. A company’s management, shareholders and creditors (mainly financial institutions) are directly concerned with the auditors’ function and performance, particularly in the case of publicly traded companies.

(a) Briefly discuss who among the above groups is the most important beneficiary of an auditor’s report on a company’s financial statements.

(b) Describe the circumstances in which there are potential conflicts of interest between these groups. How should auditors resolve such conflicts in the needs of the above parties?