17. Under "Inspections" on the PCAOB website, locate the link to Firm Inspection Reports. Reviewa firm inspection report and describe some of the findings (or deficiencies) cited by the PCAOB. In particular, look for firm inspection reports that say: "QC criticisms are now public" Exercises Related to Other Professional Services Standards 20. Respond to each part. a. What performance requirements apply to a financial statement review? Specifically, what are the procedures that will "ordinarily" provide an accountant with a reasonable basis for obtaining limited assurance? b. Can an accountant perform a review for a client in an industry for which he or she has no prior experience? 21.John is performing a compilation engagement and must assemble his documentation. Generally speaking, what should the goal of John's documentation be? What are three items (or pieces of information) that John should include in his documentation? Chapter 10 Governmental and Industry Accounting Research (exercises 3, 5 11, 15 & 16 in your text) Governmental Accounting Research Exercises 3. Locate the Status page for GASB Statement No. 22, Accounting for Taxpayer- Assessed Tax Revenues in Governmental Funds. When did this standard initially become effective? What GASB Statement superseded this standard? 5. Assume the Town of Olson is undergoing a bankruptcy, and a bankruptcy plan of adjustment, restructuring the town's debt, has been confirmed by a court. Locate the appropriate accounting guidance, then respond to the following questions. 17. Under "Inspections" on the PCAOB website, locate the link to Firm Inspection Reports. Reviewa firm inspection report and describe some of the findings (or deficiencies) cited by the PCAOB. In particular, look for firm inspection reports that say: "QC criticisms are now public" Exercises Related to Other Professional Services Standards 20. Respond to each part. a. What performance requirements apply to a financial statement review? Specifically, what are the procedures that will "ordinarily" provide an accountant with a reasonable basis for obtaining limited assurance? b. Can an accountant perform a review for a client in an industry for which he or she has no prior experience? 21.John is performing a compilation engagement and must assemble his documentation. Generally speaking, what should the goal of John's documentation be? What are three items (or pieces of information) that John should include in his documentation? Chapter 10 Governmental and Industry Accounting Research (exercises 3, 5 11, 15 & 16 in your text) Governmental Accounting Research Exercises 3. Locate the Status page for GASB Statement No. 22, Accounting for Taxpayer- Assessed Tax Revenues in Governmental Funds. When did this standard initially become effective? What GASB Statement superseded this standard? 5. Assume the Town of Olson is undergoing a bankruptcy, and a bankruptcy plan of adjustment, restructuring the town's debt, has been confirmed by a court. Locate the appropriate accounting guidance, then respond to the following questions