How would you respond to the director questions

Assignment Help Accounting Basics
Reference no: EM132545262

Question - You are having lunch with a member of the board of directors of a prospective client. You have just explained how the audit opinion adds to the confidence of financial statement users by providing reasonable assurance that the financial statements are free of material misstatements. The director than asks what additional benefits the company might attain from the audit and your expertise in the business and industry.

a. How would you respond to the director's questions regarding additional benefits that the company might attain from the audit?

b. What precautions must the auditor take to ensure the he or she remains independent with respect to the audit engagement when providing value added services?

Reference no: EM132545262

Questions Cloud

Discourage the use of plastic files and folders : Telco Ltd. manufactures files and folders from old clothes to discourage the use of plastic files and folders.
HC3031 Trends in the Global Business Environment Assignment : HC3031 Trends in the Global Business Environment Assignment Help and Solution, Holmes Institute - Assessment Writing Service
Present management strategies : Present management strategies to overcome organisational barriers and capability gaps for Nike company
Fight against organized crime : Explain different ways in which an organized crime group can make money by intimidating businesses, Explain what is meant by "no-show jobs" and "bid-rigging"
How would you respond to the director questions : How would you respond to the director's questions regarding additional benefits that the company might attain from the audit
Ethical dilemma and an ethical lapse : Explain the difference between an ethical dilemma and an ethical lapse.
Rational decision makers : Q1: Managers have all sorts of tools and techniques to be Rational Decision Makers.
Describe alex could be liable to pay compensation : Describe the conditions that must be proved before Alex could be liable to pay compensation to the investors
Describes the rational perspective of management accounting : Change occurs due Describes the 'rational' perspective of management accounting change as outlined by Wickramasinghe & Alawattage (2007)?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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