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Namiki, CPA is auditing the financial statements of Taylor Corporation for the year ended Dec 31, 2009. Namiki plans to complete the fieldwork and sign the auditors report about March 10, 2010. Namiki is concerned about events and transactions occurring after December 31, 2009, that may affect the 2009 financial statements.
What general types of subsequent events require consideration and evaluation?
What auditing procedures should he consider performing to gather evidence about subsequent events?
You have learned that the internal control framework for most U.S. companies is the Committee of Sponsoring Organizations of the Treadway Commission (COSO) Internal Control-Integrated Framework, issued in 1992.
State whether Event is adjusting or non-adjusting event.
Assume that you are the PricewaterhouseCoopers audit engagement partner and have assessed Kodak as a high-risk client. Explain the modification you would make to the audit engagement procedures to minimize any potential liability of the firm.
You are responsible for auditing a wholesale cosmetics distributor with an inventory consisting of thousands of individual items.
Examine the CPA profession and licensing requirements (Use New Jersey's please). Explain how a licensed CPA (as an outside auditor) could be of value to your company. Critique current auditing standards.
Explain for the client the benefits of using an internal auditor. Explain how their background benefits the client.
How are reviews performed by external auditors different than those performed by internal auditors? How are the reviews alike? Do you think an organization benefits more from an internal audit or an external audit?
You will then be required to audit cases available on FLECS Blackboard or 20 hospital records.
Auditors cannot say that the books have been done 100% correctly because they cannot possibly look over every part of them. They instead give an opinion based on a sampling of the information
Astor City, a small city that is not required to have independent audit, voluntarily decided to have an audit of its financial records. Currently, the city generates $900,000 in revenues. Discuss any potential violations of the applicable audit sta..
Write a Cholecystectomy Audit report
You are the newly hired accountant for The Gift Shop. The owner has just received the December 31, 2008 bank statement and has asked you to prepare the monthly bank reconciliation.
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