Question
Hi, After reading the case Sky Scientific, Inc : An auditing Minefield , could you help me answer following questions?( the case is in the
Hi, After reading the case Sky Scientific, Inc : An auditing Minefield , could you help me answer following questions?( the case is in the attachment)
7a. Mark Jensen served as concurring reviewer for the Sky audit. Refer to the SEC PracticeSection (SECPS) Reference Manual (which is available at the www.aicpa.org website).What are the qualifications and roles of a concurring reviewer, especially in regard tocompleting audits of SEC-regulated companies? In your opinion, were these requirements met as part of the Sky audit? Defend your answer.
7b. Search the website of the Public Company Accounting Oversight Board (PCAOB)(www.pcaob.org) to determine the current status of their auditing standard on ??Engagement Quality Review?? and comment on its intent.
7c. The SEC and PCAOB regulate companies and auditors of publicly traded companies.Does the AICPA require a concurring partner for an audit of a company that isnotpublicly traded?
Thanks a lot!
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