Questions from Auditing and Assurance

Q: Wanda Young, doing business as Wanda Young Fashions, engaged the

Wanda Young, doing business as Wanda Young Fashions, engaged the CPA partnership of Scott & Green to audit her financial statements. During the audit, Scott & Green discovered certain irregularities t...

Q: Susan Harris is a new assistant auditor with the public accounting firm

Susan Harris is a new assistant auditor with the public accounting firm of Sparks, Watts, and Wilcox, CPAs. On her third audit assignment, Harris examined the documentation underlying 60 disbursements...

Q: For the purposes of this problem, assume the existence of five

For the purposes of this problem, assume the existence of five types of auditors: CPA, GAO, IRS, bank examiner, and internal auditor. Also assume that the work of these various auditors can be grouped...

Q: Select the best answer for each of the following items and give

Select the best answer for each of the following items and give reasons for your choice. a. Which of the following organizations can revoke the right of an individual to practice as a CPA? (1) The Pub...

Q: Casa Royale, Inc., a public company, retains Ying and

Casa Royale, Inc., a public company, retains Ying and Company CPA to audit its financial statements and internal control. Howard Smythe, the partner in charge of the audit, drafted the following unqua...

Q: Spacecraft, Inc., is a large corporation that is audited regularly

Spacecraft, Inc., is a large corporation that is audited regularly by a public accounting firm but also maintains an internal auditing staff. Explain briefly how the relationship of the public account...

Q: What are the major purposes of obtaining representation letters from audit clients

What are the major purposes of obtaining representation letters from audit clients?

Q: State whether you agree (A) or disagree (D)

State whether you agree (A) or disagree (D) with each of the following statements concerning the auditors’ unqualified report of a public company.

Q: Match each the following statements with the appropriate type of auditors’ report

Match each the following statements with the appropriate type of auditors’ report (each auditors’ report may be used once, more than once, or not at all): A. Advers...

Q: State whether each of the following is or is not a principle

State whether each of the following is or is not a principle (or a portion of a principle) underlying an audit conducted in accordance with generally accepted auditing standards.