Explain the nature and functions of auditing

Assignment Help Accounting Basics
Reference no: EM13824042

Prepare a 700- to 1,050-word paper in which you 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 in your paper:

  • Describe the elements of the Generally Accepted Auditing Standards (GAAS).
  • Describe how these standards apply to financial, operational, and compliance audits.
  • Explain the effect that the Sarbanes-Oxley Act of 2002, and the Public Company Accounting Oversight Board (PCAOB), will have on audits of publicly traded companies.
  • Discuss the additional requirements that are placed on auditors from this act and the actions of the PCAOB.

Format your paper consistent with APA guidelines.

Reference no: EM13824042

Prepare the stockholders equity section of the balance sheet

North Wind Aviation received its charter during January authorizing the following capital stock: Prepare the stockholders equity section of the balance sheet at December 31.

Identify any constraints relating to the decision

Identify your possible courses of action. For each of these courses, identify any constraints relating to the decision (e.g., personal standards, societal norms, professiona

Planning process and compounded interest decisions

Nathan Company earns 11% on an investment that pays back $220,000 at the end of each of the next 5 years. Nathan's finance department has the following values related to the

Discuss the ethical and professional conduct of joshua thorp

Joshua Thorp opened Laser Co. on January 1, 2011. At the end of the first year, the business needed additional funds. On behalf of Laser, Joshua applied to Vermont National

Compute and discuss the debt to total assets ratio

FX Corporation leases new equipment on December 31, 2012. The lease transfers ownership to FX at the end of the lease. The present value of the lease payments is $240,000.

Problem on spending variance for supply costs

The company's owner budgets for supply costs, a variable cost, at $2.10 per square foot. The actual supply cost last month was $3,260. In the company's flexible budget perfo

Reducing the setup cost at compserve

The particular logarithmic function proposed in Example 12.4 is just one possibility for the cost of a setup cost reduction. Referring to the previous problem, suppose inste

Draw two new process maps that include your suggested

Draw two new process maps that include your suggested improvements. One process map should depict the purchase processes and the second process map should depict the cash di


Write a Review

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd