Questions from Auditing and Assurance

Q: Items 1 through 5 present various independent factual situations an auditor might

Items 1 through 5 present various independent factual situations an auditor might encounter in conducting an audit of a nonpublic company. For each situation, assume: ∙ The auditor i...

Q: For each of the following brief scenarios, assume that you are

For each of the following brief scenarios, assume that you are reporting on a client’s financial statements. Reply as to the type(s) of opinion (per below) possible for the scenario....

Q: Johnson & Barkley, CPAs, audited the consolidated financial statements of

Johnson & Barkley, CPAs, audited the consolidated financial statements of Jordan Company (a public company) for the year ended December 31, 20X7. Johnson & Barkley previously have audited and issued s...

Q: This simulation, available online, presents a draft of a nonpublic

This simulation, available online, presents a draft of a nonpublic company audit report document and three exhibits. To allow this DRS to stand alone without consideration of other parts of the Keysto...

Q: Your client, Summerford, Inc., has a debt agreement with

Your client, Summerford, Inc., has a debt agreement with Valley City Bank that includes a number of restrictions and covenants. Violation of any restriction or covenant results in the entire amount of...

Q: Select the best answer for each of the following questions. Explain

Select the best answer for each of the following questions. Explain the reasons for your selection: a. In an integrated audit, which of the following must the auditors communicate to the audit committ...

Q: While performing an internal control audit in conformity with PCAOB AS 2201

While performing an internal control audit in conformity with PCAOB AS 2201, the auditors must be able to identify both control strengths and control weaknesses. Items (1) through (11) present various...

Q: Bill Jensen, a staff member of Zhan & Co., CPAs

Bill Jensen, a staff member of Zhan & Co., CPAs, has given you the following list of what he refers to as “internal control deficiencies” for the Zabling Co. audit and has asked you to review each poi...

Q: During audits of internal control over financial reporting of various issuers,

During audits of internal control over financial reporting of various issuers, the auditors encountered the independent situations below. For each situation a through e select from the following list...

Q: Match the following definitions (or partial definitions) to the appropriate

Match the following definitions (or partial definitions) to the appropriate term. Each term may be used once or not at all.