For more classes visit\nwww.snaptutorial.com\n1–20\nPublic accounting firms are sometimes grouped into categories of local firms, regional firms, national firms, and international firms. Explain briefly the characteristics of each. Include in your answer the types of services stressed in each group.\n1–26\nThe Sarbanes-Oxley Act of 2002 created the Public Company Accounting Oversight Board. Explain the major responsibilities of this board.\n2–7\nEvaluate the following quotation: “If a CPA firm completes a nonpublic company audit of Adam Company’s financial statements following AICPA generally accepted auditing standards and is satisfied with the results of the audit, an unmodified audit report may be issued. On the other hand, if no audit is performed of the current year’s financial statements, but the CPA firm has performed satisfactory audits in prior years, has confidence in the management of the company, and makes a quick review of the current year’s financial statements, a qualified report may be issued.”\nDo you agree? Give reasons to support your answer.\n2–28\nReed, CPA, accepted an engagement to audit the financial statements of Smith Company. Reed’s discussions with Smith’s new management and the predecessor auditor indicated the possibility that Smith’s financial statements may be misstated due to the possible occurrence of errors, fraud, and illegal acts.\na. Identify and describe Reed’s responsibilities to detect Smith’s errors and fraud. Do not identify specific audit procedures.\nb. Describe Reed’s responsibilities to detect Smith’s material noncompliance with laws. Do not identify specific audit procedures.\nc. Identify and describe Reed’s responsibilities to report Smith’s noncompliance with laws.\n
AC 410 Unit 1 Homework Assignment
AC 410 Unit 2 Homework Assignment
Public accounting firms are sometimes grouped into categories of local firms, regional firms, national firms, and international firms. Explain briefly the characteristics of each. Include in your answer the types of services stressed in each group.
Ron Barber, CPA, is auditing the financial statements of DGF, Inc., a publicly held company. During the course of the audit, Barber discovered that DGF has been making illegal bribes to foreign government officials to obtain business, and he reported the matter to senior management and the board of directors of DGF.
AC 410 Unit 3 Homework Assignment
AC 410 Unit 4 Homework Assignment
Comment on the reliability of each of the following examples of audit evidence. Arrange your answer in the form of a separate paragraph for each item. Explain fully the reasoning employed in judging the reliability of each item.
Questions Requiring Analysis: 7-28
Discuss the advantages to CPAs of documenting internal control by using:
Questions Requiring Analysis: 7-33
AC 410 Unit 5 Homework Assignment
AC 410 Unit 6 Homework Assignment
Refer to Chapter 11 of the textbook, Objective Question 11-38.
Assume that fraud has been discovered in the “Possible Errors and Fraud” list, shown as A through O in the problem. Select two of the fraud items from the list and note them here:
Following the scientific method
Questions Requiring Analysis 12-21
Nolan Manufacturing Company retains you on April 1 to perform an audit for the fiscal year ending June 30. During the month of May, you make extensive studies of internal control over inventories.
All goods purchased pass through a receiving department
AC 410 Unit 7 Homework Assignment
AC 410 Unit 8 Alternate Assignment
Questions Requiring Analysis 14-30
Early in your first audit of Star Corporation, you notice that sales and year-end inventory are almost unchanged from the prior year. However, cost of goods sold is less than in the preceding year, and accounts payable also are down substantially. Gross profit has increased
The types of subsequent events and their importance to the audit
The procedures auditors cannot perform before the end of the audit
The different types of audit reports and the conditions under which each is issued
AC 410 Unit 8 Homework Assignment
AC 410 Unit 9 Alternate Assignment
Questions Requiring Analysis: 16–31
The auditor's opinion on the fairness of financial statements may be affected by subsequent events.
- Define what is commonly referred to in auditing as a subsequent event, and describe the two general types of subsequent events.
AC 410 Unit 9 Alternate Assignment
AC 410 Unit 9 Chapter 18 Assignment
AC 410 Unit 9 Homework Assignment
AC 410 AC/410 AC 410 Unit 9 Chapter 18 Assignment
18–29. The CPA firm of Carson & Boggs LLP is performing an internal control audit in accordance with PCAOB Standard No. 5.The partner in charge of the engagement has asked you to explain the process of determining which controls to test. Describe the process, presenting each of the links in this process and a short summary
AC 410 Unit 10 Assignment
Reflect and describe which key concepts and topics in this course have made you a stronger candidate to enter the business world.