Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Discussion: "Audit Risks"
Please respond to the following:
From the e-Activity, analyze whether or not investors who were misled by relying on financial statements could hold the audit firm liable for audit failure either by common or securities laws. Provide a rationale for your response.
According to an article in the CPA Journal, the accounting profession has long contended that an audit conducted in accordance with generally accepted auditing standards (GAAS) provides reasonable assurance that there are no material misstatements contained within financial statements. Suggest at least two alternative methods that auditors can use to provide a more concrete level of assurance to investors.
Provide support for your responses with examples of such methods in use.
What is the objective of this evaluation? What is involved in the evaluation process? Do you think this evaluation is an effective method to assess clients? Why or why not? What is the focus of the assessment?
Discuss how you would perform preliminary analytical procedures and recommend ways to mitigate engagement risk and audit risk.
You will develop a three- to four page single spaced report that discusses: the accounts to be audited; key audit procedures; the reason for auditing the accounts.
A company purchases 300 shares of its $100 par value stock at $110 per share. It then reissues 50 shares at $115 per share. The entry upon re-issuance of the stock would include a
What percentage of the Board is not part of eBay's management team? Round to one decimal place. What is the average age of a Board member of eBay?
The following are audit procedures from different transaction cycles:
The Fresno Freezer Corporation has contracted with YOUCPA for an audit. During the audit, the audit team has asked you to determine if everyone on the engagement team is independent.
q smith manufacturings bank has just informed the companys cfo that an audit is required to get an operating line of
Which of the following is a procedure you would perform while planning an engagement?
Summarize the primary purposes of an internal control system. What are the three internal control objectives for financial reporting?
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.
Describe the sentinel event and explain the roles (i.e. responsibilities, etc.) of the personnel present during the sentinel event.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd