Name Chapter 1: Auditing: Integral to the Economy Description Instructions Modify Add Question Here Question 1 True/False 0 points Modify Remove Question The need for assurance services arises because the interests of the users of information may be different from that of the interests of those responsible for providing information. Answer True False Add Question Here Question 2 True/False 0 points Modify Remove Question An audit of financial statements is a form of attestation service
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ch02 Student: 1. Auditors may be independent in fact but not independent in 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
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Concept and significance of Auditing The word ‘audit’ is derived from the latin word ‘audire’ which means to hear. In the olden times‚ when frauds or errors were suspected as regards receipts and payments in business or to verify tax amount payable to the king‚ explanations would be heard from persons responsible for keeping accounts. Today‚ audit is more than just cash verification. It is reporting about the financial position of an organization as disclosed by the Profit and Loss account
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Example auditing case 1)” Based on the information given in this case and your knowledge of auditor’s reports‚ identify the deficiencies in the draft of the proposed report. Do not redraft the report‚ but provide justification or explanation for each of the deficiencies you identify” (Pany‚ Auditor’s Report‚ 2010). A. In the Introduction paragraph it states “As discussed in Note K to the financial statements‚ the Company has properly disclosed a subsequent event dated March 14‚ 20x9” (Pany‚ Auditor’s
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Chapter 1—Auditing and Internal Control TRUE/FALSE 1. Corporate management (including the CEO) must certify monthly and annually their organization’s internal controls over financial reporting. ANS: F PTS: 1 2. Both the SEC and the PCAOB require management to use the COBIT framework for assessing internal control adequacy. ANS: F PTS: 1 3. Both the SEC and the PCAOB require management to use the COSO framework for assessing internal control adequacy. ANS: F PTS: 1 4. A qualified opinion
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Bibliographic Reference Author: Osama Shaban‚ Accounting Department‚ AlZaytoonah University of Jordan Title: Auditing Human Resources as a Method to Evaluate the Efficiency of Human Resources Functions and to Control Quality Check on Human Resource Activities International Business Research Journal‚ Vol. 5‚ No. 3 PP.122-129 © Canadian Center of Science and Education Introduction Objectives of the article include: • To evaluate the efficiency of human resources at all
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A BUSINESS RISK APPROACH Auditing 6e Larry E. Rittenberg University of Wisconsin–Madison Bradley J. Schwieger St. Cloud State University Karla M. Johnstone University of Wisconsin–Madison Australia • Brazil • Canada • Mexico • Singapore • Spain • United Kingdom • United States Auditing: A Business Risk Approach‚ 6e Larry E. Rittenberg‚ Bradley J. Schwieger‚ Karla M. Johnstone VP/Editorial Director: Jack W. Calhoun Publisher: Rob Dewey Acquisitions Editor: Matthew Filimonov
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investors’ next step was to sue the auditors of Stanford Financial Group. BDO‚ the accounting firm that was responsible for auditing Stanford’s financial statements‚ is currently the target of a major lawsuit. BDO did not act in accordance with the responsibilities of an auditor and thus led to audit risk‚ lack of independence‚ and various violations of the PCAOB’s auditing standards regarding investment securities. BDO consistently issued unqualified reports when there were material misstatements
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Chapter 10 Auditing the Revenue Process SEC SAB101: Revenue recognition 1. 有persuasive evidence 有证据 2. Delivery occurred‚ service rendered，东西给了服务于需求 3. Price is fixed/determinable 价格固定 4. 有collectability钱收的回来 Fraud Risk in Revenue cycle: 欺诈风险 1. Side agreement: off-book‚ adjust record to entice customer 2. Channel stuffing: 填塞分销渠道，造成销售假象 inflate sales by forcing product through a distribution channel 3. Related party transaction: 实质重于形式原则substance over form是指企业应当按照交易或事项的经济实质进行会计核算，而不应当仅仅按照它们的法律形式作为会计核算的依据
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In addition to a number of quantitative studies in this area‚ this study wants firstly to elaborate in a complementary qualitative way how internal auditors perceive their current role in risk management within the Belgian context where internal auditing is a relatively young profession. Secondly‚ we want to investigate whether‚ under the influence of recent changes in corporate governance regulations‚ a greater financial emphasis in internal auditors’ work can be noticed. Thirdly‚ we are interested
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