ch9 Student: ___________________________________________________________________________ 1. The risk of incorrect acceptance and the risk of assessing control risk too low relate to the A. Preliminary estimates of materiality levels. B. Allowable risk of tolerable error. C. Efficiency of the audit. D. Effectiveness of the audit. 2. While performing a substantive test of details during an audit‚ the auditor determined that the sample results supported the conclusion that the recorded
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Weekly Journal- Module 3 SPE 357 Instructor- Robert Burrell Grand Canyon University Nov 16‚ 2012 Assessment and identification are key elements in education‚ in particular‚ special education. Assessing students is essential to knowing where to begin with a student. No matter what the student’s ability is or is being‚ they all need to be assessed. After the assessments are done and evaluated‚ a teacher should have a better understanding of what level of performance the students are
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case “The Subsidiary”: * Diane is a Principle Auditor working in the firm of Blott and Twiggy (B & T). * Doug Blott is Diane’s Audit Manager who has 9 years audit experience. David Blott is the senior partner in B & T. * Diane is auditing a plastics subsidiary which is a material component of a large Australian unlisted public company. It is Diane’s responsibility to complete the yearend audit of the company on behalf of B & T. * The plastics market is in mature stage and
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SPE 578 Complete Class - DOES NOT Include Week 3 Individual SPE 578 Models‚ Theories and Instructional Strategies for SPE - DOES NOT Include Week 3 Individual Check this A+ tutorial guideline at http://www.assignmentcloud.com/SPE-578/SPE-578-Complete-Class-Guide For more classes visit www.assignmentlocud.com SPE 578 Week 1 DQ 1 Using what you have learned from the readings‚ discuss why you think lesson plans are important to teaching and which part(s) of the lesson plan will you find most helpful
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Qiong Wu Instructor James Dutra ACC 412 March 26‚ 2014 Case 3.1 Dodgers Trolley Summary The Dodgers Trolley case is a simple problem related the internal control in auditing. Dodgers Trolley was original funded in New York‚ but Yankees performed much better. After nearly seven decades of mostly frustration on and off the baseball field‚ the Dodgers shocked the sports world by moving to Los Angeles in 1958‚ because Walter O’Malley saw the opportunity to introduce baseball to the increasing
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3. Before FIN 46 (R) became effective‚ the SPEs/conduits for securitization are rarely consolidated by their sponsors or transferors based on the consolidation rule of ARB 51. Answer the following: (a) Discuss the consolidation guidance under ARB 51. Under ARB 51‚ consolidated financial statements are usually necessary for a fair presentation when one of the companies in the group directly or indirectly has a controlling interest in the other companies. ARB 51 stated consolidation guidance as “usual
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SPE 566: Defining Behavior Assignment Purpose The purpose of this assignment is to demonstrate understanding and application of basic concepts of behavior analysis. Specifically you are required to develop objective‚ behavioral definitions of social skills behavior avoiding subjective‚ mentalistic terms‚ and hypothetical constructs. General Information In a short answer format‚ you should choose any 3 of the 10 social skill behaviors for which you will provide several points of knowledge‚ as
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not see it”. 2. Regulatory Agencies‚ SEC and FASB Enron was able to hide their losses behind their SPEs or Special Purpose Entities by omitting an SPE’s assets and liabilities from its consolidated financial statements and both SEC and FASB failed to provide formal guidelines for companies to follow in SPEs accounting and reporting. As a result of the minimal legal and accounting guidelines for SPEs‚ Enron along with other companies was able to divert huge amounts of their liabilities and losses to
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officers‚ internal auditors‚ SEC and FASB. The hypocrisy‚ dishonorable actions and unethical behavior of Kenney Lay‚ Jeffrey Skilling‚ Andrew Fastow led to bankruptcy. This and many other problems‚ such as loss in transactions involving the swaps stocks‚ SPE related issues and est.‚ finally contributed to crisis. As Enron executives‚ all of their concerns should have been focused on Enron’s profits‚ but seems that many of them only cared about their wealth. When financial problem surfaced‚ they did not
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material fraud and illegal client acts to the audit committee and the Board of Directors. If the financial statements are not restated‚ the auditor should issue a qualified‚ an adverse opinion or consider withdrawing from the engagement. The team auditing Enron should have followed the guidance when the management acted with scienter. As mentioned in the case‚ Arthur Andersen was being paid exorbitant amounts of money to audit Enron and attest to the validity of its financial statements. The firm
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