Questions from Accounting for Government and Non-Profit

Q: Which types of loans to executives are permitted by the Sarbanes-

Which types of loans to executives are permitted by the Sarbanes- Oxley Act?

Q: For each engagement described below, indicate whether the engagement is likely

For each engagement described below, indicate whether the engagement is likely to be conducted under international auditing standards, U.S. generally accepted auditing standards, or PCAOB auditing sta...

Q: The U.S. Securities and Exchange Commission (SEC)

The U.S. Securities and Exchange Commission (SEC) is an independent, nonpartisan, quasi-judicial regulatory agency with responsibility for administering the federal securities laws. Publicly traded co...

Q: List the seven parts of a standard unqualified audit report and explain

List the seven parts of a standard unqualified audit report and explain the meaning of each part. How do the parts compare with those found in a qualified report?

Q: What are the purposes of the scope paragraph in the auditor's report

What are the purposes of the scope paragraph in the auditor's report? Identify the most important information included in the scope paragraph.

Q: Explain the relationships among audit services, attestation services, and assurance

Explain the relationships among audit services, attestation services, and assurance services, and give examples of each.

Q: What are the purposes of the opinion paragraph in the auditor's report

What are the purposes of the opinion paragraph in the auditor's report? Identify the most important information included in the opinion paragraph.

Q: What five circumstances are required for a standard unqualified report to be

What five circumstances are required for a standard unqualified report to be issued?

Q: Describe the information included in the introductory, scope, and opinion

Describe the information included in the introductory, scope, and opinion paragraphs in a separate audit report on the effectiveness of internal control over financial reporting. What is the nature of...

Q: What type of opinion should an auditor issue when the financial statements

What type of opinion should an auditor issue when the financial statements are not in accordance with GAAP because such adherence would result in misleading statements?