A Day in the Life of Brent Dorsey Staff Auditor Professional Pressures By: Carmelia Bell 8/14/2012 Brent Dorsey is an audit working at a company called Northwest Steel located in Portland. Brent is under a lot of pressure due to his job and marriage. Katherine his wife has been complaining about how they are not able to spend time together because of his job. John Peters, his boss is also putting him under pressure because he wants his peers Megan, Scott and
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Ocean Manufacturing, Inc. 1. The auditor is to do the following: a. Communicate with the previous auditor to discuss the details of how the previous audits went and inquire about management integrity. b. Take any steps necessary to obtain an understanding of the client and its industry and determine if the auditor is capable of performing the audit properly. c. Ensure that the auditor is independent of the client. d. Evaluate the integrity of the client’s management
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Carl Robins has a major problem, he has been put in a situation that the company he works for has not prepared him for. The problem is bigger than Carl; it is just that his current situation is what brings the problem to light. The company’s problem comes from within, an internal problem that derives from poor management. To help Carl and the company he works for overcome this problem, we must identify what causes these problems. Background Initially after reviewing the case study
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The job of an auditor is very complex and has to be done cautiously. He must be very impartial when giving his guidance/opinion and perform his work with utmost care and honesty. He must guide companies in disclosing everything required as per GAAP. The financial statements approved by an auditor must be accurate. In reality, an auditor comes across various situations where he can make unfair decision. In the presented case, though the company is willing to pay the auditor additional work for $700
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1. Do you think that the IAASB’s proposed new standard on changes to the auditor’s report is an effective improvement, or do you think the current auditor’s report is better? In defending your answer, you should incorporate both the “pros” and “cons” of the current model and the “pros” and “cons” of the IAASB’s proposed model. You may feel free (if you wish) to elaborate on what you think the IAASB should have done, if you believe that the current model should be improved but have a different idea
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Fordham University Graduate School of Business ACGB 7171 Auditing of Accounting Systems I—Fall 2013 Course Objectives: The objective of this course is to introduce students to the auditor’s decision-making process in both an audit of financial statements and an audit of internal controls over financial reporting. The class consists of lecture, individual case studies and in class exercises. Students are given an introduction to the following topics: • Generally Accepted Auditing
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regulatory environment”? Is audit quality of a sufficient standard to serve the public interest? Do audit reports provide information which serves the needs of the public? Conclusion: does the current regulatory environment for auditing ensure that external auditors’ reports provide information to investors which serves the public interest? In very general terms: Something is true if it is (Aristotle) Something is fair if it is unbiased When applied in the context of financial statements:
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413- Debate Speech Opening: The CICA states in their “Understanding Financial Statements” document that the independent audit is the highest level of “reasonable” assurance that a company is presenting fair and applicable data based on the standard IFRS/ASPE frameworks. Two key words are repeated in this document, reasonable and independence. Audit results are reasonable as absolute certainty is not possible with the judgment, testing, and the limitations of internal controls, which are beyond
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Article Analysis on Unethical Behavior and its Effects Article Analysis on Unethical Behavior and its Effects ACC 291 Article Analysis on Unethical Behavior and its Effects Possible functions and actions resulting in dishonest tactics and unethical behavior within accounting are obvious. These kinds of actions are usually in breach of the Sarbares Oxley Act of 2002 (SOX). An available article inside the university student library website is going to be examined to be able to determine possible
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Homework Assignment: Chapter 4, pp. 104-108: Problems 4-8, 4-18, 4-19, 4-20, 4-21 4-8) Explain how the rules concerning stock ownership apply to partners and professional staff. Give an example of when stock ownership would be prohibited for each. If the partner is part of an audit engagement, they can not own stock for the company in which they are responsible for reporting the audit for, even if the client is out of another office. The audit report must be from an individual that is independent
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