audit. · Describe audit sampling methods for tests of controls and substantive tests of transactions. Course Assignments 1. Readings · Read Ch. 3, 7, & 15 of Auditing and Assurance Services: An Integrated Approach. 3. Individual Assignment: The Audit Report and Internal Control Evaluation · Resource: pp. 62–63 in Ch. 3 of Auditing and Assurance Services: An Integrated Approach · Evaluate the evidence provided by Apollo Shoes. · Decide how to structure the audit report for the provided
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Internal Audit Department Audit Program for Cash | | |Audit Scope: | |Audit Objectives: | |Risks
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Syllabus for ACIS 4414 Financial Statement Auditing Fall 2012 Instructor: Email: Office: Phone: Office Hours: MW 1:00pm – 2:30pm and by appointment Class time: MWF 9:05am – 9:55am; MWF 10:10am – 11:00am in PAM 2003 Course Web Site: Recommended Texts: Auditing and Assurance Services 14th edition Prentice-Hall, by Alvin A. Arens, Randal J. Elder, Mark Beasley Auditing Cases, 5th Edition, Beasley, Buckless, Glover, & Prawitt Note: Both of the above texts are
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Take to Guard against an Audit report. This report contains information pertaining to the procedures that will prepare an organization for auditing and out of compliance materials. This report is analyzed according to three categories: (1) the accountability an audit can give a company, (2) having on demand documentation on premises, (3) internal auditing being cost efficient versus external audits. This report also explains how audits can damage the business’s reputation if not completed correctly
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accounting boards numerous times since the 1970s. Mandatory audit firm rotation would cause auditing firms to change clients after a certain amount of years with the client. The Public Company Accounting Oversight Board (PCAOB) has recently opened a discussion on audit firm rotation because the Board is concerned about the many problems that have come up on different auditing reports made by top auditing firms. PCAOB is concerned with auditor independence because they feel that it is being compromised
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Generally Accepted Auditing Standard Paper ACC/491 Generally Accepted Auditing Standards Paper Auditing is defined as “a systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions and events to ascertain the degree of correspondence between the assertions and established criteria and communicating the results to interested users” (Louwers, Ramsay, Sinason, & Stawser, p. 3). This is basically saying that auditors are given the job
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LBJ DISTRIBUTION COMPANY AUDIT REPORT Unqualified Opinion (For the President) By SANDRA LADSON 09/29/12 [pic] Table of Contents Page 1. Executive Summary............................................................................................................3 2. Background/Introduction...................................................................................................3 3. Objectives & Method .......................................
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March 2012 This Auditing and Assurance Bulletin has been prepared by Auditing and Assurance staff. It has not been issued under the authority of the Auditing and Assurance Standards Board (AASB). This Auditing and Assurance Bulletin is intended to help raise practitioners’ awareness in a timely manner of significant new or emerging issues or other noteworthy circumstances related to engagements addressed by the AASB pronouncements. It is also meant to direct practitioners to relevant requirements
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Lakeside Auditing Case Study Case 1 Prepared by: January 27, 2011 1: An independent annual audit can provide credibility to information, and this could be very helpful for decision making. In this specific case, the owner of the Lakeside requires an independent CPA firm to perform an annual audit because the owner wants to show the public a “good-look” of its financial statements; since he would like to receive more capital by making his company public. In addition, good-looking financial
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CPA Exam Multiple-Choice Questions on Auditors’ and Accountants’ Reports 1. (N95,62) Which of the following statements is a basic element of the auditor’s standard report? a. The disclosures provide reasonable assurance that the financial statements are free of material misstatement. b. The auditor evaluated the overall internal control structure. c. An audit includes assessing significant estimates made by management. d. The financial statements are consistent with those of the prior
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