Questions from Auditing and Assurance

Q: a. In 2017, Congress debated repealing Dodd-Frank.

a. In 2017, Congress debated repealing Dodd-Frank. What were four major provisions in Dodd-Frank that impacted corporate governance? b. Has Congress repealed Dodd-Frank? How else could a roll-back on...

Q: Access the IESBA website (www.ethicsboard.org). Click

Access the IESBA website (www.ethicsboard.org). Click on Projects and list three active projects and three 2009 completed projects.

Q: The Treasury Department of Drof Motors invests “excess” funds daily

The Treasury Department of Drof Motors invests “excess” funds daily (e.g., in foreign currencies). It, thus, earns profits and losses, which are included in the company’s consolidated financial state...

Q: Open IFRS1: First Time Adoption of International Financial Reporting Standards.

Open IFRS1: First Time Adoption of International Financial Reporting Standards. a. Which authority does this replace? b. Briefly summarize the introduction to paragraph 4.

Q: How many IFRICs have been issued?

How many IFRICs have been issued?

Q: Open up an IAS or IFRS. a. What

Open up an IAS or IFRS. a. What are the major organizational parts of the authority (placed in bold)? b. Compare your answer in (a) to the major organizational parts of an IFRIC or SIC. c. Are (a) a...

Q: Use e-IFR Sto identify the accounting authority (citation)

Use e-IFR Sto identify the accounting authority (citation) governing each of the following: a. Customer loyalty programs b. Operating lease incentives c. Operating segments d. Treasury share trans...

Q: Use e-IFRS to determine how the accountant would conduct an

Use e-IFRS to determine how the accountant would conduct an impairment test for long-lived assets. a. Which authority describes the impairment test? b. What process did you use to find the authority...

Q: Use the glossary to locate the definition of a contingent liability.

Use the glossary to locate the definition of a contingent liability. a. What is the definition? b. What standard is the definition found in?

Q: Can firms capitalize research and development costs under IFRS? If so

Can firms capitalize research and development costs under IFRS? If so, in what circumstances? Provide specific citation to support your answer.