Questions from Auditing and Assurance

Q: Regulators are taking advantage of advances in technology to fulfill their oversight

Regulators are taking advantage of advances in technology to fulfill their oversight responsibilities. Visit the website of the Securities and Exchange Commission (SEC) (www.sec.gov) to locate the spe...

Q: PCAOB Rule 3211, Auditor Reporting of Certain Audit Participants, requires

PCAOB Rule 3211, Auditor Reporting of Certain Audit Participants, requires that an audit firm file a form, referred to as Form AP, for each initial issuance of an audit report. On Form AP, the audit f...

Q: The PCAOB’s recently revised auditor reporting standard includes a requirement for the

The PCAOB’s recently revised auditor reporting standard includes a requirement for the auditor to communicate critical audit matters. Critical audit matters include those matters during the audit that...

Q: The IAASB recently revised its standards related to audit reporting. ISA

The IAASB recently revised its standards related to audit reporting. ISA 700 (Revised), Forming an Opinion and Reporting on Financial Statements, requires the auditor’s report to include the following...

Q: You have been asked to make a presentation in your International Business

You have been asked to make a presentation in your International Business class about how globalization is impacting the auditing profession. In preparation, you met with your auditing professor and d...

Q: For each engagement described below, indicate whether the engagement is likely

For each engagement described below, indicate whether the engagement is likely to be conducted under international auditing standards, AICPA audit in standards, or PCAOB auditing standards. a. An audi...

Q: Review the information in Table 2-1 on page 25 and

Review the information in Table 2-1 on page 25 and discuss the following: a. For the largest 10 firms listed in the table, how many firms generate the largest percentage of their revenue from consulti...

Q: The following are independent situations for which you will recommend an appropriate

The following are independent situations for which you will recommend an appropriate audit report: 1. Subsequent to the date of the financial statements as part of his post-balance sheet date audit pr...

Q: Identify the two broad categories of management assertions.

Identify the two broad categories of management assertions.

Q: The following relate to auditors’ independence: a. Why is

The following relate to auditors’ independence: a. Why is independence so essential for auditors? b. Compare the importance of independence of CPAs with that of other professionals, such as attorneys....