Introduction Independence is a fundamental to the reliability of auditors’ reports. It is an attitude of mind characterized by integrity and an objective approach to professional works. A professional auditor should work both independent and seen to be so. Nowadays‚ but‚ the trend of providing non-audit services to audit clients seem to be sweeping accounting firms all over the world; impacts of independence impairment caused by this trend should not be ignored. The Meaning of Independence The
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Practice Exam – 10 Points ACC/490 Auditing Student Name: Multiple Choice – Highlight the best answer Point Value: .25 each 1. Which one of the following is among the three components of audit risk? a. incurrence risk b. occurrence risk c. rejection risk d. control risk 2. The Hochfelder Case is important because it limited auditor liability under: a. the 1933 Securities Act. b. the 1934 Securities Exchange Act. c. common law. d. RICO. 3. Which of the following
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May 5‚ 2004 from Recine‚ Jennifer S. "Examination of the White Collar Crime Penalty Enhancements in the Sarbanes Oxley Act." American Criminal Law Review. 39.4 (2002): 1534+ Reinstein‚ Alan and Thomas R. Weirich. "Accounting issues at Enron." The CPA Journal. 72. 12. (2002): 21+. Roberts‚ Paul Craig. "Criminalizing Business." The Washington Times. 23 Oct. 2002: A 16 Sheehan‚ James M. "Bad stock market medicine." The Washington Times. December 19‚ 2002. Page Number: A21. "Summary of Sarbanes-Oxley
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The Money Talk with Your Parents The Five Step Process Randy L. Thurman‚ CFP‚ CPA‚ PFS More adult children are concerned about Mom and Dad and their financial status. Are they going to be OK? It’s an uncomfortable situation because you don’t want your parents to think you’re prying or even worse‚ that you’re greedy. But what if they need your help or you could do something now to avoid problems? Many seniors don’t like talking about finances‚ but doing so now could help keep them comfortable
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one is forced to be unreasonable and take high risks‚ if one aims high. And this is exactly what I did in the past. After graduating from college‚ I did not take the CPA board exams immediately since I wanted that my review expenses to be self-supported. In order to do this‚ I have to work first. However‚ the dream of becoming a CPA has never left my mind even when I was working. I got a job with a development bank in my hometown branch earning very minimal‚ but with huge performance incentives almost
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to list all my target goal including my new year’s resolution‚ my plan after passing the CPA board exam‚ looking ahead of my future….in the midst of my preparation for the last chance of taking board exam because my father’s pride was part of it…I was shocked and emotionally depressed for my love one begun to break my heart..it was really difficult not to mix my heart with my mind over my priority to be a CPA…I prayed believing that I can survive‚ no matter what happens‚ all I wanted was to give
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CPA Program -- professional level - Global Strategy and Leadership Webinar 5 Case Analysis: Notting Foods Australia Pty Ltd Case Study 2 Semester 1 2013 Authors: Samantha Winter and Delyth Samuel Published by Deakin University on behalf of CPA Australia Ltd‚ ABN 64 008 392 452 © CPA Australia Ltd 2013 The contents and any information contained in this document (Information) are for general information only. They are not intended as professional advice. For any professional advice‚ please
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Chapter 1: 3 Principles: created by ASB – page 42. responsibilities – who we are and what we need to be. Competence and capabilities Comply with ethical requirements Interdependence Due care – give your best everyday Professional skepticism/ judgment Performance: what we did or didn’t do To obtain reasonable assurance Plan and properly supervise audit. Apply appropriate materiality Assess risk of material misstatement Based on understanding of entity (client) Environment
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Entering this course has challenged me to think about why I chose this path‚ leading me to identify my goals. My first goal is to obtain my bachelor’s degree in business‚ with emphasis in accounting. Secondly‚ I plan to take the CPA/CMA exam to receive my certification. Lastly‚ as I should say ultimately‚ I plan to establish my own accounting business‚ specializing in assisting my community‚ individuals‚ and small business with finance and accounting needs. My decision to form these goals was
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Ethical Challenges and Agency Issues Analyzing ethical challenges Most people are aware of the ethical challenges businesses face in today’s world especially‚ in the financial services industry. Financial services became a major target after several scandals such as Enron and MCI. Unfortunately‚ the financial industry is very large‚ which encompasses entities such as banks‚ insurance companies‚ mortgage lenders‚ pension‚ and securities funds. “The financial service sector represents 20 percent
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