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Explain how the audit of cash and revenues and accounts receivable may be overlapping .
Include the general content of the communication, the parties involved with the communication, the required form of the communication.
Discuss why an understanding of legacy system technologies is of some importance to auditors.
What does it mean to have a good system of internal controls? Give some examples of internal controls.
Assuming the omitted fact is a material one and that Ernie is not an officer or director of Forble, does Ernie face potential liability under Section 11.
Should the government try to equalize incomes more by raising taxes on the rich and giving more money to the poor?
Does the AICPA's Code of Professional Conduct prohibit auditors from developing friendships with client personnel?
In 1960, Equity Funding Corporation of America was founded by four individuals, who assumed equal partnership interests in the firm.
Identify the internal and external processes used by auditors for your chosen organization from your Week One assignment.
Should the IASB develop a separate set of standards for SMEs or are existing IFRS suitable for all companies.
Identify three specific factors about Enrons business model in the late 1990s that are likely to impact your audit procedures if you were conducting an audit .
Which of the following elements of internal control focuses upon locating weaknesses and improving control effectiveness?
Which of the following would NOT be considered a risk factor related to employee fraud?
Using Horizontal Analysis calculate the percent increase or decrease for each of the financial statement items.
Discuss the implications of the ratios provided for the lending decision you are to make. That is, does the information paint a favorable picture?
Explain the difference between rule-based accounting and principle-based accounting.
How much interest expense will appear on the December 31, 20X9, consolidated income statement?
Identify the general principles that dictate when revenue should be recorded. How did North Face violate those rules?
What role did organizational ethics play in the Beazer Homes fraud? Is this something the auditors of Deloitte should have been more conscious of? Explain.
This type of corruption is the flip side of what other type of corruption? Why?
What type of financial statement fraud was perpetrated? What were the red flags (if any) in the case?
Describe the purpose of the audit software and describe its capabilities.
List three key provisions of the Sarbanes-Oxley Act of 2002. Order your list from most important to least important in terms of the likely long-term.
The auditors' report provides the analyst with an independent and professional opinion about the fairness of the representations in the financial statements.
A member of the board of directors is concerned that the company's income statement reports income tax expense of $12.3 million, but the income tax obligation.