impossible to shorten other places. As the auditor of manuscripts‚ I am in a dilemma. I am considering whether to eliminate 5 pages of caveats or not. If I choose to satisfy editor’s requirement and cut 5 pages of caveats‚ I may face the result of possible misunderstanding from readers. Appropriate findings and caveats are important to the interpretation of my research paper. Especially‚ an integrated report is the basis of subsequent publication. As the auditor‚ I am responsible for my publication.
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Predecessor and Successor Auditors. We believe that this guideline was not followed. We believe that there are several exiting deficiencies. An issue exists regarding a contract between McMullan and a customer from Montreal. And also a contingency issue exists. These are two situations that could have had an affect on Henson‚ Davis & Co.’s decision to accept an engagement with McMullan. We think that these deficiences can be resolved by contacting the previous auditors and doing a thorough
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2-7 The PCAOB has responsibility for establishing auditing standards for public companies‚ while the Auditing Standards Board (ASB) of the AICPA establishes auditing standards for private companies. The ASB previously had responsibility for establishing auditing standards for both public and private companies. Existing auditing standards were adopted by the PCAOB as interim auditing standards for public company audits. 2-10 For the most part‚ generally accepted auditing standards are general rather
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1. Identify the specific circumstances under which auditors are allowed to provide confidential client information to third parties. a. Under rule 301.01 [ET section 301.01]‚ “a member in public practice shall not disclose any confidential client information without specific consent of the client.” Rule 301 goes on to say that the rule does not relieve a member of his professional obligations under rule 202 (which charges an AICPA member who performs auditing to a standard to be set by the Council)
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1- Do you think that apple has demonstrated global corporate citizenship‚ as defined in this chapter ? Why or Why not ? _ Global corporate citizenship means that companies must not only be engaged with stakeholders but stakeholders themselves alongside government and civil society. Since companies depend on global development‚ which in turn relies on stability and increased prosperity‚ it is in their direct interest to help improve the state of the world. When Apple investigated and found some violations
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of SPEs to make false profits and also to hide the losses. This shows that they would do whatever it took to make sure they made money and to keep their clients happy. 4. Why should an auditor make decisions in the public interest rather than in the interest of management or current shareholders? Auditors should make decisions in the public interest rather than in the interest of management or current shareholders because they have taken a pledge to do so. Also because making decisions in the
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done in cash. Opal claims on having strong control policies and procedures in place to monitor the employees handling the cash and to safeguard the cash. However‚ the proper implementation of those policies had been questioned by the previous auditor. Further‚ Opal is planning to expand to Albany and Mandurah. It is applying for a loan from the bank to get funding for the expansion. Before granting the loan‚ the bank requires Opal to provide them with the audited financial statement. 2. Neon
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& Co. to perform the audit for the company but later he planned to terminate the appointment because the auditor want to qualify the financial statements of the company and not as what En Zayed want which is unqualify the financial statements. Then‚ En Zayed planned to appoint a new “friendly-party” auditor that can help him and ask Cik Amy to prepare the documentation for the auditor. QUESTIONS AND ANSWERS Were there any abuses of power by the management and breach of fiduciary on the part
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The speaker for class a CPA with a senior living facility called Senior Star Management. She is an analyst who does financial statement audits and has 6 ½ years of previous experience as a healthcare auditor. Haley’s stated education is a BS in Accounting and a BA in Finance. Several different topics were discussed relating to healthcare audits. One question that was asked was ‘what are the main reasons a healthcare facility is audited?’ It depends on the type of the audit and typically a
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issue can be addressed in a timely manner and the consequences of these errors can be minimized. In the aftermath of the case study‚ auditor recommendations for securing reimbursements included‚ continuing education courses for employees on proper documentation‚ coding requirements‚ and DRGs‚ in combination with frequent meetings with the internal clinical auditor to assess employees’ comprehension regarding the
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