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Hi, Please answer the following questions attached, you're assistance is greatly appreciated. Please elaborate and provide citation for the following questions below. Visit the website
Hi,
Please answer the following questions attached, you're assistance is greatly appreciated.
Please elaborate and provide citation for the following questions below. Visit the website CPA Vision for research to answer the following. http://www.aicpa.org/research/cpahorizons2025/Pages/CPAHorizons2025.aspx 1. Explain the CPA Vision Project in your own words. 2. What is meant by "moving up the economic value chain," and how are CPAs going to accomplish this? 3. After we have established an understanding of the overall view of the auditing profession, we will move quickly into a discussion of the various regulatory influences the CPA auditor is subject to, how they affect the profession, and under what conditions an auditor will depart from issuing an unqualified report. 4. In certain circumstances, an auditor will issue an unqualified report, but the wording will differ from that of a standard unqualified report. Discuss each of the five circumstances when an auditor would issue an unqualified report with an explanatory paragraph or modified wording. 5. CPA's can stay current on accounting regulations by keeping up with changes in IRS policies and new Codification guidance. However, how can CPA's ensure that they are in touch with current business conditions, practices, and trends in their area? 6. Describe the information included in the introductory, scope, and opinion paragraphs in a separate audit report on the effectiveness of internal control over financial reporting. What is the nature of the additional paragraphs in the audit report? 7. Concerning audits and effectiveness of internal controls - will a financial statement audit guarantee the detection of all fraud or misstatements in the financial statements? 8. What are the types of audit opinions that can be issued? 9. The SEC requires that all public companies present comparative financial statements. Therefore, we'll always see at least two years of data presented on the financial statements. How do you think those comparative figures enable to investors and creditors to better assess the company's performance? 10. Describe the information included in the introductory, scope, and opinion paragraphs in a separate audit report on the effectiveness of internal control over financial reporting. What is the nature of the additional paragraphs in the audit reportStep by Step Solution
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