Questions from Auditing and Assurance

Q: Pike Company has had an annual audit performed by the same firm

Pike Company has had an annual audit performed by the same firm of certified public accountants for many years. The financial statements and copies of the audit report are distributed to stockholders...

Q: Draft the standard form of audit report commonly issued after a satisfactory

Draft the standard form of audit report commonly issued after a satisfactory audit of a public client’s financial statements. Assume that the auditors issued a separate report on internal control and...

Q: What is meant by the term ethical dilemma? Describe an ethical

What is meant by the term ethical dilemma? Describe an ethical dilemma that you have faced.

Q: Sara Kole, CPA, has been requested by the president of

Sara Kole, CPA, has been requested by the president of Noyes Company, a closely held corporation and audit client, to cosign Noyes Company checks with the Noyes treasurer when the president is away on...

Q: With respect to ethics, what are the responsibilities of the Public

With respect to ethics, what are the responsibilities of the Public Company Accounting Oversight Board? What is the source of the Board’s authority?

Q: Describe what is meant by the term “covered member.”

Describe what is meant by the term “covered member.”

Q: How do the rules for the audit of public versus nonpublic companies

How do the rules for the audit of public versus nonpublic companies differ with respect to the independence of a CPA who performs routine accounting services for a client?

Q: In late 2001 through 2002, the accounting profession faced a “

In late 2001 through 2002, the accounting profession faced a “crisis of credibility.” Describe the events that led up to this crisis.

Q: Which rules of the AICPA Code of Professional Conduct recognize the PCAOB

Which rules of the AICPA Code of Professional Conduct recognize the PCAOB as a body authorized to issue technical standards?

Q: Comment on the following: In performing a consulting engagement for a

Comment on the following: In performing a consulting engagement for a client, a CPA may perform any services that the client requests.