1.What do we mean by the term auditing?What are other assurance services?Explain the difference between auditing and other assurance services.

2.What are the differences between the following types of audits:external financial statement audits, internal audits, tax audits, compliance audits?What other types of audits are there - and do you have any experience with any of the types of audits?

3.Explain three reasons why audits are important in today's economy.

4.Go to a State Board of Accountancy - it could be the state where you live, work or other reason that you select the state.Tell us which state you are discussing.What are the requirements for becoming a CPA in that state?

5.Discuss the organizations that are listed in the Auditing material on page 4-5.How do they regulate the practice of auditing and setting financial reporting standards?

6.What do we mean by the potential mismatch of incentives between the auditor and user?Do you have any recommendations about how this potential mismatch could be reduced or eliminated?

7.Explain how audits and auditors are regulated.

8.Describe the structure and content of generally accepted auditing standards.