a. Two Objectives of the Independent Auditor as Specified in ISA 200:

1. Obtain Reasonable Assurance: The Independent Auditor’s primary objective is to obtain reasonable assurance that the financial statements are free from material misstatement, whether due to fraud or error. This allows the auditor to express an opinion on whether the financial statements are prepared in accordance with the applicable financial reporting framework.
2. Report Findings: The Independent Auditor is also required to report on the financial statements based on their findings. If reasonable assurance cannot be obtained and a qualified opinion is insufficient, the auditor must disclaim an opinion or resign from the engagement.

b. Four Tasks ISA 200 Requires the Independent Auditor to Perform:

1. Comply with ISAs: The auditor must comply with all relevant International Standards on Auditing (ISAs) to ensure a high standard of auditing is maintained throughout the audit engagement.
2. Ethical Requirements: The auditor is required to adhere to relevant ethical requirements, including independence, integrity, confidentiality, and objectivity, to ensure the audit is carried out without bias or undue influence.
3. Professional Skepticism: Auditors must plan and perform the audit with professional skepticism, meaning they should critically assess the evidence and not assume that management’s assertions are truthful without proper evidence.
4. Professional Judgment: The auditor is required to apply professional judgment in planning and conducting the audit. This involves making decisions regarding materiality, the extent of audit procedures, and interpreting audit evidence.

c. Roles of Auditing Standards in the Accounting Profession:

1. Consistency in Audits: Auditing standards provide a framework that ensures that audits are conducted consistently across different firms and industries, maintaining a high quality of practice.
2. Comprehensive Guidance: These standards offer comprehensive guidance on various aspects of the audit process, from planning to final reporting, ensuring auditors follow a structured approach.
3. Public Confidence: By applying auditing standards, auditors help instill confidence in the users of financial statements, as the consistent application of these standards assures the quality and integrity of financial reports.