Chapter 1 – The demand for an Auditing and Assurance Profession Key Services for Public Accounting Firms Audits High Assurance (95% - 99%) Reviews Moderate Assurance (60% - 70%) Compilation Low to No Assurance (0% - 10%) Assurance Engagements (Triangle diagram based on the subject matter at hand) Practitioner (Auditor) Users Accountable Party (Management) Practitioners give the Users a written conclusion Accountable party must have an accountability relationship with the Users
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Analysis and Resolution of Client Issues Group Assignment Mark S. Beasley‚ Frank A. Buckless‚ Steven M. Glover‚ Douglas F. Prawitt INSTRUCTIONAL OBJECTIVES • • • • • • To provide students with an opportunity to learn (by doing) how auditors identify various client and audit risks. The case also provides students with insight into how a risk analysis ties in to the strategic audit planning process. To provide students with hands-on experience responding to client concerns and issues. Often
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Jackson Client’s Name: Session Number: 3 Setting: Office Client’s Age: 8 Estimated # of Sessions Required: 15 Case Conceptualization Client History: Client is an eight year old‚ Caucasian female. The client’s mother‚ age 31‚ works out of the home. She in not married or in a relationship at this time. Client’s mother is the sole provider for client and her bother‚ age 10. Client’s mother stated that‚ “their dad left when she was just a baby and they have had no contact with him since”. Client’s
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September It was 2007 and Eddie Jones at age 27 was weighing in at a bloated 410 pounds. He wasn’t always this fat though‚ it started when he was 23.He joined the army at age 18‚ and he worked there for the next 5 years until his best friend Dave passed away. Dave died in an eating contest trying to break the world record for most hot dogs eaten in one minute. Eddie was devastated so he turned to food for comfort. Over the years Eddie went from 194 pounds to 410 pounds. One day Eddie was reading through
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SUMMARY OF KEY POINTS OVERVIEW OF FINANCIAL STATEMENTS AUDIT * The audit enables the auditor to express an opinion whether financial statements are prepared‚ in all material respects‚ in accordance with and acceptable financial reporting framework. * Complete set of general purpose financial statements: * 1. balance sheets * 2. income statements * 3. statement of changes in equity * 4. cash flow statement * 5. summary of significant accounting policies and other
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Meet the Client: Bob Tyler Bob Tyler‚ a 40-year-old male‚ is brought to the emergency department by the police after being violent with his father. Bob has multiple past hospitalizations and treatment for schizophrenia. Bob believes that the healthcare providers are FBI agents and his apartment is a site for slave trading. He believes that the FBI has cameras in his apartment to monitor his moves and broadcast them on TV. Initial Assessment The nurse asks Mr. Tyler what he would like to be called
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letter is to confirm our understanding of the terms of our engagement as the auditors of Oceanview Marine Company for the year ended December 31‚ 2014. We will audit the company’s balance sheet for December 31‚ 2014‚ and the related statements of income‚ retained earnings‚ and cash flows for the year then ended. The purpose of our audit is to form an opinion as to whether these statements are fairly presented in accordance with accounting principles generally accepted in the United States of America
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professionals we will come across many clients from all walks of life that unfortunately are facing so many problems. Many people experience hardship and they just simply need help. As a professional in this field our work is to help our clients with whatever needs they may have at that time. The ultimate and main goal is to help the client become self-sufficient. Help them learn new skills as well as provide referrals to resources when needed. The job is to help provide the clients with alternatives to what
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Discuss the following of clients and helpers during their first day of service? A client who is being referred has to be asked questions such as where would it be more accessible for one to attend their sessions. what payment plan or insurance they have to see if the company or insurance covers their sessions. Also‚ if the location your being referred to is close by or if the eligibility standards are difficult to meet. For example‚ if the client is referred‚ then the helpers
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When might it be necessary to use a challenge or confrontation with a client? Give a concrete example. Or‚ if you believe challenging is not appropriate‚ make a case for your position. Many times during the course of therapy a client will come to a point where they refuse to take responsibility or see their unused resources (Egan‚ 2014). In these instances it can be of benefit to challenge the client. In a fictional case study‚ a middle age woman‚ is having trouble finding a relationship after
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