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Identify the appropriate type of audit report that should be issued and why.
Often it is difficult to determine whether errors made in the financial records of a hotel, and then uncovered in an audit, represent intentional fraud.
According to AICPA auditing standards, what are the necessary ingredients for audit evidence to be considered "appropriate"?
Describe the difference between a preventative control and a detective control and give an example of each that are present in the sales system at Henrico.
Describe whether you agree that capitalization of the tooling supplies is the preferable method of accounting for Auto Parts, Inc.
What benefits, if any, would use of cloud computing for the sales system provide St. James?
What "judgment frames" does management of Flash use when discussing the company's performance and prospects?
Why does an auditor not have responsibility to identify or assess all business risks?
How might the confirmation tendency affect Nathan's decision and what could he do to mitigate the possible effects of this tendency in order to improve .
What types of audit procedures could an external auditor perform that might help the auditor detect this fraudulent activity?
What is meant by the term professional judgment, and why is it a particularly important concept to consider in the Cendant case?
What makes the intentional misstatement of inventory difficult to detect? How was Phar-Mor successful in fooling Coopers & Lybrand for several years.
Assess how the absence of effective internal controls in a small business operation increases the likelihood of fraud.
You will recommend policies to avoid financial statement fraud and ensure the quality of financial statements.
Is Apple's assertion regarding lack of privity correct with regard to Musk's causes of action for negligence and fraud?
Discuss the various bases of CD&A's potential civil liability to the shareholders and creditors of Watson as a result of issuing an unqualified report.
Define an attest engagement. List the two conditions that are necessary, according to the third general standard for attestation engagements.
What types of engagements can be provided under the attestation standards? Give two examples of attestation engagements.
What are the two types of prospective financial statements? How do they differ from each other?
Define corporate governance. Why do you think an effective internal audit function is referred to as one of the cornerstones of corporate governance?
Explain how internal auditors can play a vital role in helping management comply with the requirements of the Sarbanes-Oxley Act.
What are the Trust Services principles and how do they relate to the risks you identified?
Describe for Orange Grove the differences between compilation, review, and audit engagements.
Describe the steps an accountant should complete when conducting a compilation of prospective financial statements.
Identify the deficiencies in Currie's draft of the examination report. Group the deficiencies by paragraph.