(a) The objectives of the auditor are formally specified in ISA 200 as:
i. To obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, thereby enabling the auditor to express an opinion on whether the financial statements are prepared, in all material respects, in accordance with the applicable financial reporting framework; and
ii. To report on the financial statements, and communicate as required by the ISAs, in accordance with the auditor‟s findings.

(b) In relation to the audit of financial statements, ISA 200 requires the auditor
to:
i. Comply with all ISAs relevant to the audit;
ii. Comply with relevant ethical requirements;
iii. Plan and perform an audit with professional scepticism;
iv. Exercise professional judgement in planning and performing an audit; and
v. Obtain sufficient and appropriate audit evidence to allow him to obtain reasonable assurance

(c) The scope of an audit as described in the independent auditor’s report contains the following points:
i. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements;
ii. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement in the financial statements, whether due to fraud or error;
iii. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control;
iv. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management; and
v. Assessment and evaluating the overall presentation of financial statements.

(d) The role of regulatory bodies in ensuring that audits are carried out in line with standards normally includes the following:
i. Offering professional qualifications for auditors, to provide evidence that auditors possess a minimum level of technical competence;
ii. Establishing procedures to ensure that the professional competence of auditors is maintained. This includes matters, such as:

• Ensuring that audits are performed only by,fit and proper persons, who act with professional integrity;
• Requiring that the members carry out their audit work in accordance with appropriate technical standards (for example, in accordance with International Standards on Auditing, known as ISAs);
• Ensuring that auditors remain technically competent and up to date with modern auditing practice (for example, by following a programme of continuing professional development);
• Providing procedures for monitoring and enforcing compliance by its members with the rules of the regulatory body. These include rules and procedures for the investigation of complaints against members and the implementation of disciplinary procedures where appropriate
• Maintaining a list of registered auditors which is made available to the public; and
• Such a system is referred to as a system of self-regulation. In such a system, the regulation of auditors is carried out by their own professional bodies. The government may appoint a public body with similar responsibilities to a self-regulating professional body.

The public body may, therefore, establish rules and procedures for:
i. Approving/authorising individuals to perform audit work;
ii. Ensuring that authorised auditors have the necessary minimum skills and knowledge to carry out their audit work to a proper standard; and
iii. Handling complaints and taking disciplinary measures against auditors, where appropriate.
In addition, Statutes (e.g. CAMA) establish that certain individuals are ineligible to act as an external auditor in the context of a given company,
even if they are members of an appropriate regulatory body. These exclusions are designed to help to establish the independence of the auditor. In line with section 403 of CAMA 2020, the following individuals are prohibited from acting as the auditor of a company:
i. An officer or servant of the company;
ii. A person who is a partner of or in the employment of an officer or servant of the company; or
iii. A body corporate.