Questions from Auditing and Assurance

Q: What are the duties and responsibilities of the Public Company Accounting Oversight

What are the duties and responsibilities of the Public Company Accounting Oversight Board?

Q: Distinguish between the system review and the engagement review types of peer

Distinguish between the system review and the engagement review types of peer reviews.

Q: Comment on the following: The SEC's acceptance of the use of

Comment on the following: The SEC's acceptance of the use of International Financial Reporting Standards in filings replaces use of PCAOB Auditing Standards for audits of international companies.

Q: What is a financial reporting framework? Why is a financial reporting

What is a financial reporting framework? Why is a financial reporting framework important to a financial statement audit?

Q: What relationship exists between AICPA generally accepted auditing standards (GAAS)

What relationship exists between AICPA generally accepted auditing standards (GAAS) and the Statements on Auditing Standards (SASs)?

Q: You are the partner on the audit of Datasave, Inc.,

You are the partner on the audit of Datasave, Inc., a small publicly held corporation that manufactures high-speed disk drives for the computer industry. The audit of Datasave had been progressing sat...

Q: In the context of an audit of financial statements, explain what

In the context of an audit of financial statements, explain what is meant by professional skepticism.

Q: Explain briefly the auditors’ responsibility for detecting noncompliance with laws by clients

Explain briefly the auditors’ responsibility for detecting noncompliance with laws by clients.

Q: Evaluate the following quotation: “If a CPA firm completes a

Evaluate the following quotation: “If a CPA firm completes a nonpublic company audit of Adam Company’s financial statements following AICPA generally accepted auditing standards and is satisfied with...

Q: What are the major functions of audit working papers?

What are the major functions of audit working papers?