Practice Exam Preparation Resources Module 1: Conceptual issues in assurance Overview This module builds on the fundamental concepts of auditing and other assurance services introduced in your prerequisite auditing course. It begins with an overview of the key drivers in the demand for audits, and then surveys current challenges and issues such as the audit and regulatory environment and the expectation gap. You will also study issues related to the economics of auditing and their impact on auditor
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SEMESTER 2 2011 CPA 118 ETHICS AND GOVERNANCE CPA - ETHNIC SEMESTER 2 2011 MODULE 1 ACCOUNTING AND SOCIETY 1.05 1.05 Part A: Ineraction with society Depictions of A/cting Depiction Defeating depictions defeat Fig 1.1 new bean counter How to become professional? 3 aspects 1.06 Recruiting the best Beard(1994),Smith and Briggs(1999) and Simnik and Felton(2006) Friedman& Lyne(2001);Albrecht and Sack(2000);Coate et al.(2003) Jeacle: colourful accountant linked to corporate collapses 1.07 Moral agency
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regardless of professional services C. All CPAs who render attestation services D. All members of the audit committee 7. The method of ethical reasoning that does not deal with making decisions after considering the interests of others is: A. Egoism B. Enlightened Egoism C. Utilitarianism D. Rights Theory 8. The method of ethical reasoning that requires selecting the correct moral rule that produces the greatest benefits over harms is: A. Act Utilitarianism
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students are expected to be able to: 1. Understand why there is a demand for auditing and assurance services 2. Differentiate between auditing and accounting 3. Understand the relationship among auditing, attestation, and assurance services 4. Know the different types of auditors and their types of services 5. Understand the issues currently affecting the profession 6. Understand generally accepted auditing standard and their relationship to standard auditing 7. Understand
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Table of Contents 1.0 Executive Summary 2 2.0 Statement of the Problem 5 3.0 Causes of the Problem 7 4.0 Decision Criteria and Alternative Solutions 10 5.0 Recommended Solution, Implementation and Justification 11 6.0 External Sources 14 1.0 Executive Summary WorldCom’s origin can be traced to the 1983 breakup of AT&T. Small, regional companies could now gain acces to AT&T’s long distance handphone lines at deeply discounted rates. The companies turn to Bernard J (Bernei) Ebbers
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change would likely be classified as a change in an accounting estimate and based on the magnitude described in the case, the change would likely require disclosure. If a change in estimate affects several future periods and materially affects the current-period, disclosure of the effect of the change on current income from continuing operations, net income and the corresponding earnings-per-share figures is required. 2 ZC (the client's accounting general manager) is well-meaning; however, his plan
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The case study by Moberg and Romar (2003) points out WorldCom’s experience with fraudulent accounting to hide the true costs emerging in future quarters after an acquisition. WorldCom Corporation was known as the second largest telecommunications company in the world. It handled approximately 50 percent of Internet traffic in the United States and 50 percent of data communications worldwide (Obringer, n.d.). The growth strategy that was utilized by the corporation was the acquisition of other
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NORTHCENTRAL UNIVERSITY ASSIGNMENT COVER SHEET Learner: Patrick W. Bass THIS FORM MUST BE COMPLETELY FILLED IN Please Follow These Procedures: If requested by your mentor, use an assignment cover sheet as the first page of the word processor file. The assignment header should include the Learner’s last name, first initial, course code, dash, and assignment number (DoeJXXX0000-1) justified to the left and the page number justified to the right. Keep a Photocopy or Electronic
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1. Introduction Social and environmental accounting has been increasingly important in the organisation because the society has become more industrial-dominant since 1990s (Deegan and Unerman, 2006, pp. 317). Disclosure of social and environmental accounting has regarded as a core reporting method among organisations and it has been eventually separated from the statement of the financial position (Deegan and Unerman, 2011, pp. 385). In the late 1990s, triple bottom line reporting, which considers
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further and say that the social responsibility of a business is also just to make a profit is open to debate. The aim of this paper is to discuss the various views of the responsibility of business, and to consider where accounting fits in. In addition, to explore the ethical responsibilities that a corporation may have beyond making profits for its stockholders. The Friedman view Milton Friedman’s view is that in a capitalist economy, there is one and only one responsibility of business- to
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