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      <PublisherName>aimsjournal</PublisherName>
      <JournalTitle>Allana Management Journal of Research, Pune</JournalTitle>
      <PISSN>? ?2581-3137 (</PISSN>
      <EISSN>) 2231 - 0290 (Print)</EISSN>
      <Volume-Issue>Volume 3, Issue 1</Volume-Issue>
      <PartNumber/>
      <IssueTopic>Multidisciplinary</IssueTopic>
      <IssueLanguage>English</IssueLanguage>
      <Season>January 2013- June 2013</Season>
      <SpecialIssue>N</SpecialIssue>
      <SupplementaryIssue>N</SupplementaryIssue>
      <IssueOA>Y</IssueOA>
      <PubDate>
        <Year>-0001</Year>
        <Month>11</Month>
        <Day>30</Day>
      </PubDate>
      <ArticleType>General Management</ArticleType>
      <ArticleTitle>CHANGING ROLE OF AUDITING WITH IFRS</ArticleTitle>
      <SubTitle/>
      <ArticleLanguage>English</ArticleLanguage>
      <ArticleOA>Y</ArticleOA>
      <FirstPage>97</FirstPage>
      <LastPage>102</LastPage>
      <AuthorList>
        <Author>
          <FirstName>S.</FirstName>
          <LastName>Pandiselvi</LastName>
          <AuthorLanguage>English</AuthorLanguage>
          <Affiliation/>
          <CorrespondingAuthor>N</CorrespondingAuthor>
          <ORCID/>
          <FirstName>R.</FirstName>
          <LastName>Annapoorani</LastName>
          <AuthorLanguage>English</AuthorLanguage>
          <Affiliation/>
          <CorrespondingAuthor>Y</CorrespondingAuthor>
          <ORCID/>
          <FirstName>Yarsha</FirstName>
          <LastName>Hariharan</LastName>
          <AuthorLanguage>English</AuthorLanguage>
          <Affiliation/>
          <CorrespondingAuthor>Y</CorrespondingAuthor>
          <ORCID/>
        </Author>
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      <DOI/>
      <Abstract>Auditing is an accounting tool that determines whether the financial statements of a particular company is accurate and without traces of misrepresentations.The introduction of the International Financial Reporting Standards (IFRS) has opened an excellent opportunity of learning an advanced system of financial reporting for everyone engaged in Accounting,

Financing and Auditing functions at every level in every business organization. The adoption of IFRS will bring more transparency and a higher degree of comparability, both of which promise many benefits for the organizations as well as economies. The transition to IFRS and the responsibility of making appropriate Accounting treatments and necessary disclosures comes within the purview of accounts department. Internal auditors do play an important role in the entire process. The auditors should be there to assist them challenge the process and make sure the companies are doing everything they should do to moye towards such a significant project. The companies and the internal auditors should together have a clear understanding of applicability, end requirements and implications of the IFRS on the systems and processes and the emergence of any critical business issue. They can begin by conducting a high level review to assess how major accounting changes would affect a company, its financials, its processes and internal control structure. They can review those processes which need re-engineering to assess the necessary changes to address new risks associated with new changes. Internal audit must act as a key player for the pervasive impact of IFRS on the organization’s internal contro( environment. Auditors have an important role to play in the implementation phase. They must closely monitor the implementation of IFRS and identify the processes, controls and systems impacted by it. Further the internal auditors need to test the new designs and implementation of new controls to ensure that controls are working effectively in the changed environment. After the implementation phase, the auditors must re-evaluate the entire process flow of all activities right from its initiation till its inclusion in the IFRS financial statements. It should test the internal control structure in order to provide assurance to the management that the revised internal structure works properly and yields better __ampersandsign accurate financial reports.



KEYWORDS

IFRS, Auditing, Financial statements, Accounting</Abstract>
      <AbstractLanguage>English</AbstractLanguage>
      <Keywords/>
      <URLs>
        <Abstract>https://aimsjournal.org/ubijournal-v1copy/journals/abstract.php?article_id=13340&title=CHANGING ROLE OF AUDITING WITH IFRS</Abstract>
      </URLs>
      <References>
        <ReferencesarticleTitle>References</ReferencesarticleTitle>
        <ReferencesfirstPage>16</ReferencesfirstPage>
        <ReferenceslastPage>19</ReferenceslastPage>
        <References/>
      </References>
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