Week 1 Assigment – ACCT 555
2-16
a) 1 b) 3 c) 2 d) 1
2-17
a) 1 b) 2 c) 4 d) 3
2-19
a) Leadership responsibilities for quality within the firm b) Monitoring c) Acceptance and continuation of clients and engagements d) Monitoring e) Monitoring f) Engagement performance g) Relevant ethical requirements h) Human resources i) Human resources j) Leadership responsibilities for quality within the firm
2-20
a) The factors to consider are the historical review of the company’s financial statements including the performance and reputation of the previous firm. Another would be the integrity of the officers of the company to determine whether they would give accurate information. b) Other issues related to public companies include the documents that need to be submitted to the SEC on a quarterly and yearly basis.
3-23
a) 4 b) 3 c) 3
3-25
a) 4 b) 4 c) 3
3-26
a) It tries to say that all the information was presented in a fair manner and that there may be some mistakes but they will not affect the materiality of the financial statements. b) That the financial statements and audit were done in accordance with the rules and regulations required. c) That the auditors reviewed it and that they feel the information was fair and accurate. d) Because the auditor is representing the whole firm and not just himself as an individual. e) That the audit was done with the practices and protocol on how they should be done in the United