Questions from Auditing and Assurance

Q: What four types of procedures are used by auditors to test whether

What four types of procedures are used by auditors to test whether internal controls are operating effectively?

Q: Why are the financial statement audit findings relevant to the auditor’s opinion

Why are the financial statement audit findings relevant to the auditor’s opinion on the effectiveness of internal controls over financial reporting?

Q: Explain the difference in the requirements for reporting on the effectiveness of

Explain the difference in the requirements for reporting on the effectiveness of internal controls over financial reporting for integrated audits versus financial statement–only audits.

Q: Compare the wording in the standard unmodified opinion audit report for a

Compare the wording in the standard unmodified opinion audit report for a nonpublic entity under AICPA auditing standards in Figure 3-1 (p. 49) with the wording for a public company audit under PCAOB...

Q: Part 1. Whitlow & Company is a brokerage firm registered under

Part 1. Whitlow & Company is a brokerage firm registered under the Securities Exchange Act of 1934. The act requires such a brokerage firm to file audited financial statements with the SEC annually. M...

Q: The following are situations that may violate the AICPA Code of Professional

The following are situations that may violate the AICPA Code of Professional Conduct. Assume, in each case, that the CPA is a partner, unless stated otherwise. 1. Elbert is a staff accountant at a CPA...

Q: What is meant by determining the degree of correspondence between information and

What is meant by determining the degree of correspondence between information and established criteria? What are the criteria for an audit of a company’s financial statements?

Q: This problem requires the use of ACL software, which can be

This problem requires the use of ACL software, which can be accessed through the textbook website. Information about downloading and using ACL and the commands used in this problem can also be found o...

Q: Why is there a special need for professional conduct by CPAs?

Why is there a special need for professional conduct by CPAs? How does this differ from the need for special conduct in other professions?

Q: Sarah O’Hann enjoyed taking her first auditing course as part of her

Sarah O’Hann enjoyed taking her first auditing course as part of her undergraduate accounting program. While at home during her semester break, she and her father discussed the class, and it was clear...