• case 1
    Corporation 1. List three types of consulting services that audit firms have provided to their audit clients in recent years. For each item, indicate the specific threats, if any, that the provision of the given service can pose for an audit firm’s independence. In the recent years, auditing firms provides...
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  • Enron Case
    public in the accounting profession. List the parties who you believe are most responsible for that crisis. Briefly justify each of your choices. a. Kenneth Lay, Jeffrey Skilling, and Andrew Fastow. A common theme of the allegations leveled at the three executives was that they had created a...
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  • Enron Case
    1. The Enron debacle created what one public official reported was a “crisis of confidence” on the part of the public in the accounting profession. List the parties who you believe are most responsible for that crisis. Briefly justify each of your choices. a) With Enron, the responsibility and blame...
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  • Summer Internship Report
    Introduction to the Industry Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are banks, credit card companies, insurance companies, consumer finance...
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  • aduit
    "crisis of confidence" on the part of the public in the accounting profession. Lists the parties who you believe are most responsible for the crisis. Briefly justify each of your choices. The debacle of Enron, a US firm is looked upon as the worst debacle and fall out in the history of US bankruptcy...
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  • Ocean Manufacturing
    Case 1.1 – Client Acceptance Question # 1: Identify 5 procedures an auditor should perform in determining whether to accept a client. Which of these five are required by the auditing standards? a. (AU 314) The auditor should obtain an understanding of the entity and its environment in the following...
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  • Chile vs. Russia Economic Reform
    processing systems convert non-financial transactions into financial transactions. ANS: F PTS: 1 4. Information lacking reliability may still have value. ANS: F PTS: 1 5. A balance sheet prepared in conformity with GAAP is an example of discretionary reporting. ANS: F PTS: 1 6. The...
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  • Ms Chan
    Overview It is difficult to find an example of a more spectacular business failure than the recent collapse of Arthur Andersen. Within a few years, Andersen moved from one of the largest professional service organisations in the world to almost complete collapse. The impact of the firm's failure on its...
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  • Ernst
    founder and guiding power behind the early if the accounting firm was Arthur Edward Andersen. Born in Plano, Illinois, in 1985, Anderson was the son of a John and Mary Anderson a Norwegian couple who had immigrated to the United States four years earlier. At a young age Andersen showed an appeal for numbers...
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  • Auditing
    overview of auditing 1. What does ‘assurance’ mean in the financial reporting context? Who are the three parties relevant to an assurance engagement? An assurance engagement (or service) is defined as ‘an engagement in which an assurance practitioner expresses a conclusion designed to enhance...
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  • auditing 101
    this chapter you should be able to: 1 2 3 4 5 6 7 8 9 10 11 explain the nature and importance of professional ethics; describe the three main categories of ethical theory; outline the essence of the accounting bodies’ code of ethics and describe the individual rules; apply sound ethical...
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  • Strategic management acccounting
    Overview It is difficult to find an example of a more spectacular business failure than the recent collapse of Arthur Andersen. Within a few years, Andersen moved from one of the largest professional service organisations in the world to almost complete collapse. The impact of the firm's failure on its...
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  • Auditor's Independence
    On Auditor’s Independence: A Study on ACNABIN, Chartered Accountants Auditor’s Independence A Study on ACNABIN-Chartered Accountants Firm Table of Content CHAPTERS PARTICULARS PAGES Chapter -1 Introduction 1.1 Introduction 1.2 Background 1.3 Scope of the Study...
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  • ocean manufacturing,Inc.
    The new client acceptance decision Mark S. Beasley · Frank A. Buckless · Steven M. Glover · Douglas F. Prawitt l ea r n ing o bje C t ive s After completing and discussing this case you should be able to [1] Understand the types of information relevant to evaluating a prospective audit client ...
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  • Auditing
    Questions: 1-1. The special function performed by the public accounting profession is the attestation to the fairness of the financial statements of clients. The special function ensures the reliability and integrity of the financial reporting system. Judge Burger described the special function as "certifying...
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  • smart
    Ocean Manufacturing, Inc.1 The New-Client Acceptance Decision Learning Objectives Understand the types of information relevant to evaluating a prospective audit client List some of the steps an auditor should take in deciding whether to accept a prospective client Identify and evaluate factors important...
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  • Audit Service Quality in Compulsory Audit Tendering Preparer Perceptions and Satisfaction
    www.emeraldinsight.com/1030-9616.htm Audit service quality in compulsory audit tendering Preparer perceptions and satisfaction Kym Boon and Jill McKinnon Department of Accounting and Finance, Macquarie University, Sydney, Australia, and Audit service quality in CAT 93 Philip Ross School...
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  • External Auditing Solutions Ch1-3
    Chapter 1 The Demand for Audit and Other Assurance Services  Review Questions 1-1 The relationship among audit services, attestation services, and assurance services is reflected in Figure 1-3 on page 13 of the text. An assurance service is an independent professional service to improve the quality...
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  • Lakeside Case 2
    Drive Richmond, Virginia 66266 Dear Mr. Wallace, We have researched the issues that were discussed regarding the possibility of Lakeside Company going public and the ramifications this action would have on their desirability as a client. We have also analyzed Lakeside Company’s financial statements...
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  • Msc Project
    TITLE NON AUDIT SERVICES: A THREAT TO AUDITORS’ INDEPENDENCE. BY EZEH PHILIPS UCHECHUKWU MATRIC NO. PG/BMS/2008/010049 BEING A PROJECT/THESIS REPORT SUBMITTED TO THE DEPARTMENT OF ACCOUNTING, IGBINEDION UNIVERSITY OKADA, IN PARTIAL FULFILMENT OF THE AWARD OF MASTER...
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