Standard Based Decision Making Eth 376

Topics: Audit, Internal control, Auditor's report Pages: 2 (627 words) Published: August 24, 2013
Standard Based Decision making

Audit opinion
To receive a compliant with Generally Accepted Auditing Standards (GAAS) it is required for Green and Associates to decide that the accounting activities indicate that there are or are not material misstatements compared to the financial report in the fiscal year and risk assessment problems in regarding the internal control methods are sufficient. Forevermore, the fact that Green was not provided the chance to review internal controls. Green cannot be able to execute a full audit in accordance with GAAS. As of GAAS, Green and associates is required to report the accounting activities with reporting their opinions paragraph due to the fact that the fiscal reports do not comply with GAAP standards. Also the accounting rules are not in uniform within the present time compared to earlier periods of time. They are not able to finish the audit of internal controls because the GAAS auditors should be providing material to guarantee honestly of the reports and convey any issue that come up, such as scams, mistakes, and unlawful activities, without being provided with a chance of internal control auditing for this time. Green and associates are not able to use correct auditing methods. Ethical Issues

ABC declined to have Green to audit of internal controls. However, the CFO thinks the current internal control auditors are adequately strong, authorization from a professional will increase dependability of internal control too much. Also leads to improving the controls. It is a professional that can help with auditing and it is Green and Associates to interact with earlier auditors will complete the audit when it is necessary. Green must check for any policies and process in place to provide suggested to help the auditors. In case on exists, Green must look for gaps in the financial statements or the audit reports. Green and Associates are a loud to speak with ethical team that is the auditing committee and CFO if...
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