All Matches

Solution Library

Expert Answer

Textbooks

Search Textbook questions, tutors and Books

Oops, something went wrong!

Change your search query and then try again

Result Not Found

Books FREE
Tutors
Study Help
Ask a Question

Search
Sign In
Register

study help
business
principles of auditing

Questions and Answers of Principles of Auditing

The Code is divided into three parts:
According to the IESBA ethics code, what is the ethics objective of the accountancy profession?
What ethical principles incorporate characteristics used by society as good moral behaviour?
What is ethics?
Legal responsibilities of auditors. Pick five countries. Assume that you are the head of an international commission to determine legal responsibilities of accountants in various countries. Use your
Compare the COSO Report, Combined Code and the Sarbanes-Oxley Act on what each says about the following:A. Corporate governanceB. Audit firmsC. Internal controls
Ostling, Auktoriserad Revisor, accepted an engagement to audit the financial statements of Sandnes Company of Göteborg, Sweden. Ostling’s discussions with Sandnes’s new management and the
Sundback, CGR, is the auditor for Upseerin Manufacturing, a privately owned company in Espoo, Finland, which has a June 30 fiscal year. Upseerin arranged for a substantial bank loan which was
Suppose you are a judge in the following civil case. Plaintiff Sue Bank, a banker, accuses auditor Big Zero of having performed a negligent audit in the financial statements of company
How do the markets for the Big Four differ from second tier firms? Describe a typical audit client for each group including average revenue, global nature, number of employees, government regulation
Comment on the following statements:A. The core principles of IFAR seem to be comprehensive. B. The FRC has broad oversight for setting accounting standards in the public and private sectors.C.
What is meant by second tier firms?
What are four major sources of auditors’ legal liability? Briefly discuss them?
What measures are possibilities to reduce auditors’ unlimited legal liability?
Discuss the following statement: ‘Auditors perform extensive tests on a company’s internal control system, in order to determine whether they can rely on that system in the course of their audit.
Describe the historical shift in the audit profession’s attitude towards the auditor’s responsibilities regarding fraud.
Discuss the potential impact of the Cadbury report, combined code and COSO report on the audit profession.
Discuss the following statement: ‘Auditors should not be allowed to combine an audit for one client with advisory services to that client’.
Identify principals and agents in the cases mentioned below. Describe the contributions and ‘prices’ associated with these relationships, identify potential risks for the principal and give
Comment on the following statements:A. In most countries audits are legally required for every type of company.B. The PCAOB sanctions firms but not individuals for violations of laws, regulations and
What are the names of the Big Four firms?
Describe the activities off the International Forum of Independent Audit Regulators (IFIAR).
Give the names of four national or international accounting oversight boards – government or professional committees to review the work of auditors and take an active part in setting and enforcing
Describe the major US and European regulations discussed in this section.
Give a brief description of the agency theory as applied to both the demand and the supply of audit services.
What are the most important theories on the demand of audit services?
What areas that an auditor audits is the responsibility of management?
Discuss lawsuits resulting from negligence of ‘Due professional Care’.Required:A. Consult the library, a database like LexisNexis or the internet for lawsuits resulting from negligence of ‘Due
From the library get a copy of the EC Eighth Company Law Directive which is about the qualifications and work of auditors.Required:Based on the Eighth Directive, answer the following questions.A. An
Look at the financial statements of a major public company. Pick three accounts and discuss the financial statement assertions that might be associated with those accounts. For example, the
Four friends who are auditing students have a discussion. Jon says that the primary responsibility for the adequacy of disclosure in the financial statements and footnotes rests with the auditor in
Based on the standard Audit Process Model, trace the procedures an auditor would use to audit a retail clothing business (continuing client) from the initial client contact to the audit opinion.
What are the four phases of an audit? Discuss each. Determine which is the most important of the four and explain why.
The following are management assertions (1 through 9) and audit objectives applied to the audit of accounts payable ((a) through (h)).Management assertion:1. Existence2. Rights and obligations3.
Give reasons why the following organizations should have annual audits by an independent external auditor:(a) The US Federal Reserve Board:(b) A retail company traded on the London Stock Exchange
Khaled Al-Zubari, an executive recruiter, is a member of the board of directors of Mantilla Corporation. At a recent board meeting, called to discuss the financial plan for 20X4, Mr Al-Zubari
Each of the following represents tasks that auditors frequently perform:1. Compilation of quarterly financial statements for a small business that does not have any accounting personnel capable of
List four examples of specific operational audits that could be conducted by an internal audit in a manufacturing company. Describe how you would conduct each.
Based on ISA 200, what are the general principles governing an audit of financial statements. Discuss ethics and professional scepticism.
Discuss the function of the groups within IFAC.
The London, Tokyo and New York Stock Exchange, among others, require an annual audit of the financial statements of companies whose securities are listed on it. What are the possible reasons for
The general public thinks that an auditor guarantees the accuracy of financial statements. Is this true? Why? What other things does the public believe about audited financial statements?
Name the Big Four international audit firms and give a brief history of each.
List the four basic positions within the organisational structure of an audit firm and describe the duties of each position.
Based on the Evaluation and Judgment phase (IV) of the audit process model the overall conclusions are formed on what judgments?
What are the four phases of an audit process model? Briefly describe each.
How can one compare the empirical scientific cycle to the financial audit process?
What is the existence assertion? The rights and obligation assertion? The completeness assertion?
What are the financial statement assertions made by management according to ISA 500?
What are the three types of auditor? Briefly define them.
How many types of audits are there? Name each and briefly define them?
Discuss the two levels of risk an auditor must consider when designing audit procedures.
What is the general definition of an audit? Briefly discuss the key component parts of the definition.
Why is the adoption of International Auditing Standards important for developing nations?
Tracy Keulen, the sole owner of a small bakery, has been told that the business should have financial statements reported on by an independent Register accountant (RA). Keulen, having some
How do International Financial Reporting Standards (IFRS) differ from International Standards on Auditing (ISA)?
Evaluate this quote: ‘Every international business, large or small, should have an annual audit by an independent auditor.’ Why should an auditor review the financial statements of a company
What characteristics of the Industrial Revolution were essential for the enhanced development of the audit profession?
Identify and briefly discuss factors that have created the demand for international auditing.

Showing 2600 - 2700 of 2659

First
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27

Get In Touch

About Us
Contact Us
Career
Jobs
FAQ
Campus Ambassador

Company Info

Security
Copyrights
Privacy Policy
Terms & Condition
SolutionInn Fee
Scholarship

Services

Sitemap
Fun
Definitions
Become Tutor
Study Help Categories
Recent Questions
Expert Questions

Copyright © 2024 SolutionInn All Rights Reserved.

Get the SolutionInn - Study Help App