Memo 2, Auditing

Mr. Howe, a Junior Partner of the CPA firm Dewey,
Cheatem, & Howe (DCH), after noting that there is a proposal to limit Auditor liability is very excited and has announced that the DCH Audit firm will soon be able to take on much, much riskier audits with little risk of DCH going bankrupt or losing the right to audit.

Required: Mr. Tu Dewie has asked you to evaluate Mr. Howe''s assertions (use the lectures, tutorials, and the internet (i.e. http://www.clmr.unsw.edu.au/article/compliance/internal-risk-management/institute-chartered-accountants-stripped-liability-cap). In writing your memo, please remember that while Mr. Dewie is the senior partner of DCH, Mr. Howe (as a junior partner) can hurt you if you are not polite and considerate.
Posted Date: 9/7/2014 10:29:31 PM | Location : Australia







Related Discussions:- Memo 2, Assignment Help, Ask Question on Memo 2, Get Answer, Expert's Help, Memo 2 Discussions

Write discussion on Memo 2
Your posts are moderated
Related Questions
Auditors Responsibilities with regard to related parties ISA 550 Related Parties states which the auditor should perform audit process designed to find sufficient suitable

Communication: Whenever the auditor recognizes a misstatement resultant from fraud, or a suspected fraud, or error, the auditor must consider the auditor’s duty to communicate

Incorporated Banks under Companies Act Banks are incorporated under the Companies Act like any other business but are granted special privileges under the same Companies Act a

Normal audit risk Indications that an audit is a normal risk audit are: (1) The client having management and staff who are competent and have integrity; (2) Where the client h

Types of Transaction - Related Party Fundamentally two types of transactions which arise between a related party and a company as: A. It is usual for members of a collectio

I have a auditing case study i need to complete in chapter 8 of Auditing & Assurance service (fifteenth edition) by Alvin A. Arens, Randal J. Elder and Mark S. Beasley. I don''t kn

Verification of Liabilities - Audit Process Usually speaking, the auditor's duty along with regard to liabilities can be summarised follows as: 1. To confirm the existence of

As a senior in a professional services firm, you have been assigned to plan the financial statement audit of a private company named Toy Local Corporation (TLC). In addition, the p

Techniques of obtaining evidence ISA 500 mentions them as: (a) Inspection of records or documents, (b) Inspection of tangible assets, (c) Observation, (d) Inquiry, (e) C

Government has recently set up a parastatal body responsible for waste management in Mauritius. The management is unsure as to the need for an audit and the setting up of an intern