Prepare written answers to the following assignments from the text Modern Auditing: Assurance Services and the Integrity of Financial Reporting:…
An auditor has been asked to report on the balance sheet of Kane Company but not on the other basic financial statements. The auditor will have access to all information underlying the basic financial statements. Under these circumstances, the auditor:…
Prepare written answers to the following assignment from Modern Auditing: Assurance Services and the Integrity of Financial Reporting:…
The objective of our audit is the expression of an opinion about whether your consolidated financial statements are fairly presented, in all material respects, in conformity with accounting principles generally accepted in the United States of America. Our audit will be conducted in accordance with auditing standards generally accepted in the United States and will include tests of your accounting records and other procedures we consider necessary to enable us to express such an opinion. If our opinion is other than unqualified, we will discuss the reasons with you in advance. If, for any reason, we are unable to complete the audit or are unable to form or have not formed an opinion, we may decline to express an opinion or to issue a report as a result of this engagement.…
Does management’s assessment of the financial condition agree with your assessment from the Financial Statements Paper Part I?…
2. Who performed the financial statement audit of the charity? What type of audit opinion was issued? If other than unqualified,…
This letter is written to your company to give you a detailed report of auditing and assurance services offered by Anderson, Olds, & Watershed. We hope the information supplied in this letter will help you make the decision to continue with Anderson, Old & Watershed for your auditing and/or assurance needs.…
as an overall review of the financial information in the following stage of the audit.…
1. Who are the firm’s auditors? Do they provide a clean opinion on the financial statements?…
On the Waterfront details the story of a reluctant hero, Terry Malloy, as he grapples with his conscience and ultimately attains redemption through an act of unbridled resistance against the corrupt waterfront union. As Terry comes to terms with his burgeoning ethical imperatives, the influences of others, especially that of Edie and Father Barry are of paramount importance. However, it is Edie Doyle, who through her unrelenting quest to discover “who is responsible for Joey”, provides the moral backbone for Terry, an inarticulate lowly longshoreman who once believed that his philosophy of life was to “do it to them before they do it to you”. Through Edie’s love and moral guidance, Terry is able to transform into a person who acts with moral conviction, able to overthrow the union mob and garner the respect of the other longshoremen.…
3. SAS 106 (AU 326), Audit Evidence, specifically identifies the principal management assertions that underlie financial statements. The existence/occurrence assertion was particularly critical for ZZZZ Best’s insurance restoration contracts. ZZZZ Best’s auditors obtained third-party confirmations to support the contracts, reviewed available documentation, performed analytical procedures to evaluate the reasonableness of…
3. In the auditor 's report the financial statements on which the opinion is being expressed are specified in the…
The Audit Report Objective: The Audit is an independent review of the companies financail statements…
This paper explores the ZZZZ Best Company which was begun by a 16 year old individual who was able to pull the wool over the eyes of many customers, investors and auditors. This paper will define the difference between review and audit when it comes to financial reports, comments on the procedures provided with regard to the management assertion of occurrence, verification of payments for jobs and how they can lead auditors to improper conclusion, the purpose of predecessor-successor auditor communications, as well as whom needs to initiate the communication and information that needs to be obtained. The paper also addresses the limitations of the confidentiality agreement and how and when client-imposed audit scope limitations affect the type of audit opinion used as well what procedures professional standards require auditors to perform when reviewing a client's pre-audit report and post-year-end earnings press release. Accuracy, honesty and integrity are both keys to the success in auditing and following the rules of GAAP are a must for all those involved.…
This report contains a summary of the audit findings. Details of documentation reviewed, persons interviewed and other observations are recorded in the auditor’s…