Describe the auditor's responsibility for discovering illegal acts. What barriers do you see in terms of your ability to accurately uncover fraud? What are the sources of the barriers? If possible, would you eliminate the barriers? If so, why?
Describe the role the objective setting process plays in how and if auditing objectives are met. What are some steps you might take to ensure you consistently meet audit objectives?
You have just been assigned as in-charge accountant on HipStar, Inc. a new audit client in the recording industry. HipStar is an emerging growth company that finds new recording artists, records their music, and distributes the music directly to consumers exclusively over the Internet. The company does not produce CDs or tapes a
The auditor's assessment of internal controls can "help the auditors develop the audit program, which specifies the nature, timing, and extent of further audit procedures necessary for gathering sufficient evidence. (Auditing and Assurance Services, p. 37, 2006)" Why is it important that an auditor obtain "sufficient evidence"
Who are some of the groups of "outsiders" that would see a benefit from audited data? Do you think audits are more valuable to "outsiders" (or external decision makers) or to the company being audited (internal decision makers)?
What are the advantages a firm gains by using auditing and assurance services? How might you use these advantages to promote the auditing and assurance division within a company? Level: Master in Accounting Response must be substantive.
Compare and contrast auditing, attestation, and assurance services. Give an example of each type of service.
explain the nature and functions of auditing. Relate your explanation to the audit functions in your organization, or an organization with which you are familiar. Address the following · Describe the elements of the Generally Accepted Auditing Standards (GAAS). · Describe how these standards apply to financial,
You are an accountant at a local CPA firm that is auditing the accounting records of ABC Company. You have been asked to educate the accounting department about the limitations of the internal control system in preparation for an upcoming audit. During your audit, you have identified that because of a weak internal control syste
1. Provide a 2-3 paragraph overview of the article: Almer, Elizabeth Dreike, Cohen, Jeffrey R. and Single, Louise E., Is it the Kids or the Schedule?: The Incremental Effect of Families and Flexible Scheduling on Perceived Career Success. Journal of Business Ethics, Vol. 54, pp. 51-65, 2004. Available at SSRN: http://ssrn.com
Can you help me with this assignment? Details: Donald Reynolds, director of the internal auditing department, received an anonymous tip from an employee in one of the high tech manufacturing plants. The employee noted that there was a major embezzlement taking place in one of the divisions. Internal audit had completed a rou
What is an agreed-upon procedures and describe an example of an agreed-upon procedure?
You have identified a suspected fraud involving the company's controller. What must you do in response to this discovery? How might this discovery affect your report on internal control when auditing a public company?
You have identified a suspected fraud involving the company's controller. What must you do in response to this discovery? How might this discovery affect your report on internal control when auditing a public company?
Please help me to answer this question. Discuss how auditing may have played a role in the failure of Tyco International. How did the audit process potentially contribute to the firm's failure? What could have been done better, assuming there were deficiencies?
The review is an attestation engagement and it is generally limited and 'provides only a moderate level of assurance'. Question: Define review as attestation engagement and describe an example of an attestation engagement?
An attest engagement is one in which a practitioner is engaged to issue or does issue an examination, review, or an agreed-upon procedures report on subject matter, or an assertion about the subject matter, that is the responsibility of another party. Question: What is an assertion? Should assertions be written? Response
24. In accepting an engagement, an auditor takes on professional responsibilities to: a. the public. b. the client. c. other members of the public accounting profession. d. the public, the client, and other members of the public accounting profession. e. the client and the public. 25. The importance of the a
Describe an example of an attestation engagement. Thank you for helping me!
19. Choices about audit evidence are influenced by all of the following except: a. the auditor's understanding of the business and industry. b. decisions about inherent risk and control risk. c. comparisons of the auditor's expectations of the financial statements with the client's books and records. d. decisions about
Liability and expense omissions can be concealed easily but, Why are they the most difficult fraud schemes to uncover? Topic is internal control in accounts payable and response must be substantive
Explain the purpose and importance of the completeness assertion for accounts payable. Level : Master in Accounting and topic is internal control
(Analytical procedures) In audit planning the audit of Circuits Technology, Inc. (CTI). CTI resells, installs, and provides computer networking products (client software, gateway hardware and software, and twinax hardware) to other businesses. Figure 8.14 provides some summary information from CTI's financial statements. Figu
One of the important aspects when evaluating evidence in auditing is the timing of the evidence. That is does the evidence indicate that the transactions were recorded in the proper period? This test work is often called cut off testing. In looking at this type of testing it is also important for the auditor to understand t
Read the Ghosts on the Payroll section on Auditing and Assurance Services. How could the company reasonably have prevented the issues presented in the case?
Read the introductory synopsis on Auditing and Assurance Services. How do you, as a professional, maintain integrity and follow your instincts while operating within a corporate political system?
Describe the sections of the CAFR and what information is typically included in each section. Describe the differences in RSI and SI. How does the auditor's report address RSI and SI? Is the auditor's responsibility different?
What are several conditions that can lead to fraud and to what type of fraud can they lead?
Apollo Shoes is satisfied with the services your firm offers and wants to continue with the audit. Apollo Shoes would like you to prepare a letter explaining how you plan to begin the audit process. Include with your letter the following documents for the management at Apollo Shoes. · Engagement checklist ·
1. Statement on Quality Control Standards No. 2 identifies certain quality control elements that should be considered when performing which types of services? a. auditing, accounting, and review services b. auditing, tax, and review services c. accounting, tax, and review services d. auditing, accounting, and tax service