Questions from General Accounting

Q: Evaluate the costs and benefits of having a two-year “

Evaluate the costs and benefits of having a two-year “cooling off period for engagement partners.

Q: Explain how PCAOB inspections can lead to improvements in audit engagement quality

Explain how PCAOB inspections can lead to improvements in audit engagement quality.

Q: Is there a difference between cheating on a math test, lying

Is there a difference between cheating on a math test, lying about your age to purchase a cheaper ticket at a movie theater, and using someone else’s ID to get a drink at a bar?

Q: Distinguish between an auditor’s responsibilities to detect and report errors, illegal

Distinguish between an auditor’s responsibilities to detect and report errors, illegal acts, and fraud. What role does materiality have in determining the proper reporting and disclosure of such event...

Q: Discuss the cultural factors that create barriers for the Chinese units of

Discuss the cultural factors that create barriers for the Chinese units of Big Four firms to receiving support from the Chinese authorities to share audit information with the PCAOB to aid its inspect...

Q: In its report prepared for audit committees and other stakeholders in December

In its report prepared for audit committees and other stakeholders in December 2014, “Our Commitment to Audit Quality,” EY acknowledges that recent PCAOB findings indicate the need for improving audit...

Q: The International Auditing and Assurance Standards Board has issued a new standard

The International Auditing and Assurance Standards Board has issued a new standard effective December 15, 2016, requiring that engagement partners physically sign the audit report with their names ins...

Q: Do you agree that a professional accountant providing professional services to a

Do you agree that a professional accountant providing professional services to a client that is not an audit client of the firm or a network firm, who is unable to escalate a matter pertaining to an i...

Q: Audit morality includes moral sensitivity, moral judgment, moral motivation,

Audit morality includes moral sensitivity, moral judgment, moral motivation, and moral character. Explain how audit morality plays a key role in determining best audit practices that influence audit p...

Q: Dennis just got hired after not working for two years following his

Dennis just got hired after not working for two years following his reporting of financial statement fraud by his previous employer. Dennis was treated as an outcast and ultimately fired after the com...