appearance. True False 2. Auditing Standards issued by the PCAOB are the sole source of guidance for audits of public entities. True False 3. Attestation standards provide guidance for a wide variety of engagements different in scope than an audit. True False 4. Generally accepted auditing standards must be followed on all audit engagements. True False 5. The reporting principle relates to a firm’s system of quality control criteria for conducting an audit. True False 6. Auditors
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AC 4342 Auditing Introduction to assurance and financial statement auditing Discussion Question: Messier Q1-13‚ 14 1 References HKICPA Members’ Handbook Amended Preface to the Hong Kong Quality Control‚ Auditing‚ Review‚ Other Assurance‚ and Related Services Pronouncements Hong Kong Framework for Assurance Engagements Reference Messier: Ch 1 2 CILOs and TLAs CILOs 1 Describe the auditing profession‚ the regulatory‚ legal and reporting framework of auditing. Recognize the basic
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The play Macbeth‚ by William Shakespeare‚ is an tragedy of the rise and fall of a force hungry soldier named Macbeth. Macbeth’s greedy‚ pride‚ and desire drove him to transform into an unsteady‚ hard man who might persevere relentlessly just to pick up force. His ravenousness to accomplish more power brought about the cruel killings of his ruler‚ closest companion‚ and other pure residents. Inevitably‚ the deeds’ blame he was submitting showed itself as fantasies which added to the destruction
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JB Hi-Fi Limited JB Hi-Fi Limited also operates in retailing industry mainly selling electronic products to consumers. The environmental sustainability is a major concern for JB Hi-Fi when undertaking its corporate social responsibility. The company is committed to several voluntary initiatives to ensure the business operation would bring minimal impacts on the
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A professional judgment is a key factor in auditing. As a result of development of auditing and accounting industry‚ especially after a series of accounting fraud and auditing failure cases‚ such as Enron and Arthur Andersen‚ in the last decade‚ professional judgments is becoming a more and more important aspect for the independent auditing industry. Recently‚ many countries and professional bad issued more strict auditing standards to emphasize to this point. It means the auditor should be required
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I believe Biff’s theory about his father’s death. Willy Loman “didn’t know who he was” as perfectly stated by Biff. Willy Loman was unable to reconcile the truth about himself and that ultimately killed him. The inability to concede to the reality of himself was the catalyst that brought the necessity for Willy to end his life. Yet before he could he had to know that Biff loved him despite knowing the truth about him. Willy Loman lied so much to disguise the actuality of his existence to the
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to give him the most deadly poison he carries. After he breaks into the tomb‚ he runs to Juliet’s body. He cannot see that she is indeed still alive‚ and still believes her to be dead. As he is mourning‚ Paris appears‚ also intending to see the girl who would have been his bride. The two exchange some words‚ and have a quick fight in which Romeo ends up killing Paris. Romeo then drinks all of the poison‚ and in a matter of seconds lies dead next to Juliet. Since Juliet only took a sleeping draught
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Out of all the conspirators‚ Brutus was the only one who murdered Caesar with intentions of saving Rome. The other conspirators were jealous of Caesar’s success and envious of his glory; they did not have the intentions of saving Rome like Brutus. These intentions eventually cause the death of Brutus‚ but
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Principles of auditing are defined in the ISO 19011‚ the principles are designed to make an audit an effective and reliable tool for business performance improvements. The audit principles are also designed to achieve consistent conclusions from performed by independent auditors. There are six audit principles that are prerequisites that should be adhered with to achieve consistent audit results. The six principles are integrity‚ fair presentation‚ due professional care‚ confidentiality‚ independence
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Establishing a Competitive Advantage Competitive advantage is a benefit for any company to strive to achieve. A competitive advantage is an advantage over competitors gained by offering consumers greater value‚ either by means of lower prices or by providing greater benefits and service that justifies higher prices (tutor2u‚ 2009). A company that has attained competitive advantage over others creates a unique selling point or USP and allows that company to gain a larger market share by being
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