Tag: PCAOB
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Describe what is meant by the cycle approach to auditing. What are the advantages of dividing the audit into different cycles?
Describe what is meant by the cycle approach to auditing. What are the advantages of dividing the audit into different cycles? Define what is meant by a management assertion about financial statements. Describe how PCAOB assertions and assertions in international and AICPA auditing standards are similar and different.
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Write a three to four (3-4) page paper in which you: Analyze the audit report that the CPA firm issued. Ascertain the legal liability to third parties who relied on financial statements under both common and federal securities laws. Justify your response.
The Securities and Exchange Commission (SEC) regulates public companies. The SEC has found that some of these companies have violated GAAP by using creative accounting practices to mislead investors and creditors regarding the health of their company. Use the Internet or Strayer Library to research a recent accounting scandal within the last five (5) years…
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Identify the relevant accounting ethics standards involved in the situation. Identify the most ethical values of the accounting profession that should be considered in evaluating the facts and alternative courses of action.
1. what is the primary ethical issue in this case? 2. Gather all the facts. Specify the relevant facts, disagreement, and other conflicts situations. 3. identify the stakeholders and their obligations. Identify and consider all of the people affected by a decision – the stakeholders. 4. Identify the relevant accounting ethics standards involved in the…
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Where Do the Rules Come From? Who Impacts Accounting?
Where Do the Rules Come From? Who Impacts Accounting? Throughout your studies, you have heard of the “big names” of the organizations that impact accounting. But what do they really do? How do you know what the hot topics are? How are they influenced? What do they have to do with the financial reports you…