Introduction Smackey Dog Foods‚ Inc. is a small‚ private company which specializes in manufacturing and selling natural dog foods. Their new boutique division‚ Best Boy Gourmet has grown significantly due to recent product demand. The company started small and is operated by sisters Sarah‚ Kim‚ and Jillian. Sarah serves as the President and General Manager. Kim is the Production Operation Manager overseeing the inventory‚ production‚ and shipment of the dog food with the help of her assistant
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External Auditing (AC 555) Professor: Marie Wang Project: You Decide- Smackey Dog Foods‚ Inc. by LJubomir Gataric Questions: Q1: Discuss how the SEC has influence (if any) over the audit of Smackey Dog Foods‚ Inc. Solution: The SEC assists in providing investors with reliable information upon which to make investment decision. The Securities Act of 1933 requires most companies planning to issue new securities to the public to submit a registration statement to the SEC for approval. The
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Worksheet for You Decide Name Thea Zental____ Course Code AC 555_____ Grade ___ Date 02/19/2012 Questions: Q1: Discuss how the SEC has influence (if any) over the audit of Smackey Dog Foods‚ Inc. Solution: The SEC (Securities and Exchange Commission) has a great influence on the audit of Smackey Dog Foods‚ Inc.‚ which is conducted by Keller CPAs. When auditing a publicly held company‚ auditors need to observe principles. The ethical principles of the American Institute of Certified Public
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You Decide Assignment Smackey Dog Foods‚ Inc. has approached Keller CPAs to conduct an audit of the financial statements. The purpose of this summary is to describe the expectations that Keller CPAs has regarding how the audit of Smackey Dog Foods‚ Inc. will be conducted. Smackey Dog Foods‚ Inc. is a privately held corporation and is not
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The Audit of Smackey Dog Food‚ Inc. James Fleming Acct 555 Course Project AUDIT OF SMACKEY DOG FOODS‚ INC The Smackey Dog Food‚ Inc. is a family owned business. It was started by three sisters‚ Sarah‚ Kim and Jillian‚ in the kitchen of their home. They lived in a suburban area of Chicago‚ Illinois. Their business is making all natural dog food. After using their own dogs and the neighbor’s dogs as test subjects‚ it was discovered by local vets‚ pet stores and grocery stores. These local
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necessary planning activities depend in the size and complexity of the company‚ auditor’s previous experience and changes in circumstances that occur during the audit. Here‚ the risk can be evaluated by picking up an underlying comprehension of how Smackey Dog Foods works together and the business they are in. Keller CPA’s should take a look at the how the internal controls‚ procedures and frameworks are planned and are being actualized with the goal that the transcations-related audit objective of occurence
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ACC 555 - Auditing & Assurance Services You Decide Project February 23‚ 2013 Professor Brandy Havens Q1. Discuss how the SEC has influence (if any) over the audit of Smackey Dog Foods‚ Inc. Smackey Dog Foods‚ Inc. is not a publicly traded company‚ but the SEC has a direct influence on their audit. Keller CPA’s will need to follow the generally accepted auditing standards put forth by the SEC. Keller CPAs need to remain independent of the client and stay free
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Smackey Dog Foods‚ Inc Smackey Dog Foods‚ Inc is a new client to Keller CPAs firm. The nature of business for this company is to produce natural dog food. Keller has never had any experience in the audit on this industry before. Smackey Dog Foods started in a family kitchen‚ experienced explosive growth‚ and have had some troubles handling the accounting side of the business. The auditor identifies that main purpose of Smackey Dog Food to obtain an audit report is to fulfill the bank requirement
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You Decide – Smackey Dog Foods Inc Smackey Dog Foods‚ Inc. is a familiar story in terms of small business start-ups. They started in a family kitchen‚ experienced explosive growth‚ and have had some troubles handling the accounting and business side of the business. My firm‚ Keller CPA’s‚ does not have specific experience with auditing a dog food manufacturer‚ but we certainly have a good bit of experience with similar small business accounting and auditing issues. The first thing to address
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(if any) over the audit of Smackey Dog Foods‚ Inc. Solution: Type your answer here Q2: Discuss the essential activities involved in the initial planning of an audit. How do these all specifically to the Smackey Dog Food client? Solution: Type your answer here Q3: Discuss the 4 stages of the audit and the major activities performed by the auditor in each phase. Give an example of how each of these specifically applies to the Smackey Dog Food‚ Inc audit. For instance‚ examine
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