Based on the audit documentation guidelines from the PCAOB,
Not what you're looking for?
Based on the audit documentation guidelines from the PCAOB, discuss whether or not you believe these guidelines are adequate to protect a certified public accountant from a lawsuit that may be filed by shareholders of a company.
Discuss any additional documentation that you believe should be required to protect a company's shareholders from potential financial harm.
Purchase this Solution
Solution Summary
Based on the audit documentation guidelines from the PCAOB, discuss whether or not you believe these guidelines are adequate to protect a certified public accountant from a lawsuit that may be filed by shareholders of a company.
Discuss any additional documentation that you believe should be required to protect a company's shareholders from potential financial harm.
Solution Preview
â?¢ Based on the audit documentation guidelines from the PCAOB, discuss whether or not you believe these guidelines are adequate to protect a certified public accountant from a lawsuit that may be filed by shareholders of a company.
This is a catch 22 question. When the shareholders of a company have found that fraud has taken place, and the accountant did not detect the fraud, no amount of documentation will prevent the shareholders from blaming and taking legal action against the CPAs that were auditing the company. This is exactly what happened at Enron. Although the accountants were ...
Purchase this Solution
Free BrainMass Quizzes
Transformational Leadership
This quiz covers the topic of transformational leadership. Specifically, this quiz covers the theories proposed by James MacGregor Burns and Bernard Bass. Students familiar with transformational leadership should easily be able to answer the questions detailed below.
Social Media: Pinterest
This quiz introduces basic concepts of Pinterest social media
Business Ethics Awareness Strategy
This quiz is designed to assess your current ability for determining the characteristics of ethical behavior. It is essential that leaders, managers, and employees are able to distinguish between positive and negative ethical behavior. The quicker you assess a person's ethical tendency, the awareness empowers you to develop a strategy on how to interact with them.
Understanding Management
This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.
Understanding the Accounting Equation
These 10 questions help a new student of accounting to understand the basic premise of accounting and how it is applied to the business world.