marked as zero. Marks will not be awarded for explanations. Note: 11/2 marks each a. Which of the following opinions is an auditor most likely to issue when he or she found a material misstatement in a client’s opening balances during an initial audit engagement, but has determined that the balance sheet accounts at the end of the fiscal year are not materially misstated? 1) 2) 3) 4) An unqualified opinion modified by an explanatory paragraph A qualified (GAAP) opinion A qualified (scope) opinion
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should design, develop and implement strategic plan for their project in a cost-effective and time-efficient manner. The Executive Board should discuss the planning with the Engineer Boards and Audit Committee in implementing and controlling the construction process. The Executive Board manages the reports on construction progress and on operations. The Executive Director plays a leadership role for an organization and also fulfills a motivational role in addition to office-based works. The Board
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CPA Report Bambi Snyder ACC/545 December 16, 2013 Brooke Call CPA Report Memorandum To: Brooke Call, Management From: Bambi M. Snyder, CPA Date: 12/16/2013 ------------------------------------------------- Re: Professional Responsibilities of a CPA and the Difference between a Review and an Audit Professional Responsibilities of a CPA There are many professional responsibilities a CPA acquires when they accept the CPA license and a job position. As you may know, there have been many
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INTERNATIONAL STANDARD ON AUDITING 620 USING THE WORK OF AN AUDITOR’S EXPERT (Effective for audits of financial statements for periods beginning on or after December 15, 2009) CONTENTS Paragraph Introduction Scope of this ISA ........................................................................................ The Auditor’s Responsibility for the Audit Opinion ................................... Effective Date ..............................................................................
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NINJA CPA REVIEW® NINJA Notes 2015 Auditing & Attestation Table of Contents The N.I.N.J.A. Framework I. Engagement Planning 8 II. Internal Control 25 III. Auditing & IT 36 IV. Evidence & Risk 42 V. Audit Reports 57 VI. Audit Sampling 66 VII. Professional Responsibilities 77 VIII. International Auditing 84 2 The N.I.N.J.A. Framework NAIL THE CONCEPTS Watch your CPA Review videos first – before working any assigned homework questions. The CPA Review
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only for their dogs but also for their community. Its popularity grew and they expanded their business to opening a boutique division named Best Boy Gourmet, with food that must be consumed no later than 3 days after its production. This was the beginning of some issues that as the company grew, these issues grew also. Major Issues. There is a lack of solid internal controls in Smackey Foods based on the trust that is being put into certain employees to complete their positions. Some indicators
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Process Collaboration Is Critical For SOX Compliance 3-5 Analyzing SOX by Section to Assess the Impact on Auditors: Section 302 5 Section 404 5-6 Section 409 6-7 Section 802 7 SOXs’ Impact on the Audit Profession 7-8 Conclusion 8-9 References 10 Introduction In the past decade or so government-mandated compliance legislation within the auditing profession, such as the Sarbanes-Oxley Act of 2002, has created a significantly
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1- What are the pressures that lead executives and managers to “cook the books?” In the 1990s, the telecommunication was rapidly growing which led WorldCom to adopt the strategy of purchasing small long distance firms with limited geographic service areas and consolidating carriers with large market shares. This was the company’s main key profit. Indeed, by adopting this strategy, WorldCom grew quickly by expanding internationally in South America, West America, Europe and Latin America. As a result
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•Preparing documents, such as reports from QuickBooks •Invoicing customers •Job Costing •Ran Forklift 05/2013- 09/2013 Burlington Coat Factory Conroe, TX Accountant/Auditor •Open, close, count, log, and balance the safe fund •Prepare the tills for register drawers •Make change for registers throughout the day •Prepare, balance, and audit the Daily Sales Report, make deposits •Update
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STATEMENTS (Effective for audits of financial statements for periods beginning on or after December 15, 2009) Introduction Scope of this ISA 1. This International Standard on Auditing (ISA) deals with the auditor’s responsibility to form an opinion on the financial statements. It also deals with the form and content of the auditor’s report issued as a result of an audit of financial statements. 2. ISA 7051 and ISA 7062 deal with how the form and content of the auditor’s report are affected when the
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