them‚ and grow. Different eras‚ starting from the 1890s and ending at the 1920s‚ show the truth that even though there are hardships‚ politically and socially‚ one may still be optimistic. The Populist Platform‚ Charlotte Perkins Gilman‚ and Carrie Chapman Catt‚ are all fitting examples. Although they are all minorities and not as politically supported‚ they look at their situations and try to make the best out of what they have to do. The People’s party‚ or Populist platform of 1892‚ was one group
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The Inevitable: An Analysis of Carrie Chapman Catt’s Address to the United States Congress (1917) In November 1917‚ Carrie Chapman Catt‚ leader of National American Woman Suffrage Association (NAWSA)‚ gave an address to the United States Congress expressing her belief that woman’s suffrage was inevitable‚ and requesting that Congress see it as such and vote to pass the amendment. Catt’s speech was based on facts and figures (ethos) from our own country’s history‚ logic‚ reasoning‚ and common sense
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Audit Client · Benjamin Rogers is president of the Lakeside Company‚ a retailer/ distributer of consumer electronics. · Rogers is unsatisfied with King and Company’s CPAs‚ and has been in contact with Abernethy and Chapman. · Abernethy and Chapman has never had a client in this field and they look forward to breaking into a new market. · Lakeside has grown at a steady rate in the last decade. · They moved from a bargain-priced electronic market towards
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1. Why would the owners of Lakeside‚ as well as the company’s banks‚ require that an annual audit may be made by an independent CPA firm? Auditing in general‚ is necessary because of the existence of Information risk or the risk of unreliable information. Owners of lakeside may own the company but they are not closely involved in managing the business with the exception of Rogers‚ the only owner involved actively in the business’ day to day operations. So‚ an independent audit for non-managing owners
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February 7‚ 2013 Abernathy and Chapman Wallace Andrews Lakeside 1235 Sentry 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 to evaluate the possibility of misstatements. Attached‚ you will find our report discussing these issues. Please
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bank. The bank is a “main” user of the report put out by Lakesides auditor and in this case would be that banks auditor too. The connection is too close for the CPA firm to pick up this client‚ it would be against the ethically code. 2. Abernethy and Chapman do not have in-depth understanding of the consumer electronics industry that Lakeside is a part of‚ therefore it would be an unethical and against the rules of conduct. Rule 201 in General Standards part 1 says‚ “undertake only those professional
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Case 1 Analysis of a Potential Audit Client Shea Galvin Review Comments Table of Contents Page 4: Discussion Questions Pages 5-6: Exercise Discussion Questions 1. An independent auditor would be needed so they can continue to be neutral. There is a possibility it could make the auditor not as self-governing if they are auditing Lakeside as well as the bank in which they are taking loans from. The auditing firm needs to stay free in mind
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recently become aware of the CPA firm of Abernethy and Chapman from reading several advertisements. His interest in the firm was heightened when he discovered that Abernethy and Chapman audit the primary bank with which he does business. During March of 2012‚ Rogers contacted his banker who arranged for Rogers to have lunch with one of the CPA firm’s partners. At that time‚ a wide-ranging conversation was held concerning Lakeside as well as Abernethy and Chapman. Rogers discussed the history of the
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auditing both Lakeside and the bank in which Lakeside is taking loans from. The auditing firm needs to stay independent in mind and appearance and this may be an issue when auditing both. 2. This case implies that no auditor with the firm of Abernethy and Chapman has an in-depth understanding of the consumer electronics industry. Is a CPA firm allowed to accept an engagement without having established the necessary expertise to oversee the audit? The first general standard of Generally Accepted Auditing
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areauditing both Lakeside and the bank in which Lakeside is taking loans from. The auditing firmneeds to stay independent in mind and appearance and this may be an issue when auditingboth. 2.This case implies that no auditor with the firm of Abernethy and Chapman has an in-depthunderstanding of the consumer electronics industry. Is a CPA firm allowed to accept anengagement without having established the necessary expertise to oversee the audit?The firstgeneral standard of Generally Accepted Auditing
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