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Question
If the auditor concludes that unethical behaviour has occurred, they need to consider whether it is necessary to whistleblow on the offender and, if so to whom to report. Auditors in practice need to be able to make a judgement as to when to whistleblow. Completing the requirement below will help you make that judgement.
Required Develop a set of guidelines that you would use to determine if it was appropriate to whistleblow in a situation where you considered there may be unethical conduct. Explain in a paragraph the reason for each of the guidelines that you have developed.
This could be set out in a table as below:
Guideline
Explanation
...
Discuss what you need to consider before accepting the Kleptos Audit engagement and show the audit risk model and use it to estimate and evaluate the audit risk of the Kleptos Audit engagement.
List and show the steps AOW should follow with regard to dealing with a predecessor auditor and a new client before accepting the engagement.
Accounts receivable are $45,000 and are directly proportional to total sales. The sales forecast for next year is $125,000, which represents a 5% growth over the current year. The forecast accounts receivable would be:
Quincy Inc. has 20,000 shares of $10 par value common stock and 1,000 shares of $100 par value, 9%, cumulative, preferred stock. No dividends were paid the previous year.
What was the balance inn Branson Co.'s cash account before recognizing any of these reconciling items? What was the balance shown on the bank statement before recognizing any of these reconciling items?
Show the cash flows from investing and financing activities sections of the cash flows statement.
Internal control is a process effected by an entity's board of directors, management, and other personnel that is designed to provide reasonable assurance regarding the achievement of objectives.
Audit program outlines in detail what an auditor plans to do and the expected required time to accomplish each task. An audit engagement may involve more than one audit program.
Reflect upon the three elements of the "Fraud Triangle". While it is understood that all three elements are important, select one and explain why it is the most important. Provide support for your rationale.
Auditors accumulate evidence to: a) defend themselves in the event of a lawsuit b) justify the conclusions they have otherwise reached
What are monitoring activities and design a monitoring activity that would achieve this assurance objective.
Prepare a flexible budget for next year for Signet Jewelers using three different growth rates (assume absorption costing). Explain how you determined the three growth rates to use
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