Garantie de satisfaction à 100% Disponible immédiatement après paiement En ligne et en PDF Tu n'es attaché à rien
Recherché précédemment par vous
Solution Manual for Principles of Auditing and Other Assurance Services 22nd Edition by Ray Whittington, Kurt Pany, All Chapters 1 - 21, Complete Newest Version€16,67
Ajouter au panier
Principles Of Auditing And Other Assurance Service
Principles of Auditing and other Assurance Service
Examen
Solution Manual for Principles of Auditing and Other Assurance Services 22nd Edition by Ray Whittington, Kurt Pany, All Chapters 1 - 21, Complete Newest Version
25 vues 1 achat
Cours
Principles of Auditing and other Assurance Service
Établissement
Principles Of Auditing And Other Assurance Service
Solution Manual for Principles of Auditing and Other Assurance Services 22nd Edition by Ray Whittington, Kurt Pany, All Chapters 1 - 21, Complete Newest Version
Chapter 1: The Role of the Public Accountant in the American Economy
Chapter 2: Professional Standards
Chapter 3: Professional Et...
principles of auditing and other assurance service
auditing and other assurance service
auditing and other assurance services 22nd edition
École, étude et sujet
Principles of Auditing and other Assurance Service
Principles of Auditing and other Assurance Service
Vendeur
S'abonner
LectJohn
Avis reçus
Aperçu du contenu
SOLUTION MANUAL FOR Principles Of Auditing And Other Assurance Services 22nd Edition By Ray Whittington Kurt ALL Chapters (1 - 21) Table of Contents Chapter 1: The Role of the Public Accountant in the AmericanEconomy Chapter 2: Professional Standards Chapter 3: Professional Ethics Chapter 4: Legal Liability of CPAs Chapter 5: Audit Evidence and Documentation Chapter 6: Audit Planning, Understanding the Client, AssessingRisks, and Responding Chapter 7: Internal Control Chapter 8: Consideration of Internal Control in an InformationTechnology Environment Chapter 9: Audit Sampling Chapter 10: Cash and Financial Investments Chapter 11: Accou nts Receivable, Notes Receivable, andRevenue Chapter 12: Inventories and Cost of Goods Sold Chapter 13: Property, Plant, and Equipment: Depreciation andDepletion Chapter 14: Accounts Payable and Other Liabilities Chapter 15: Debt and Equity Capital Chapter 16: Auditing Operations and Completing the Audit Chapter 17: Auditors’ Reports Chapter 18: Integrated Audits of Public Companies Chapter 19: Additional Assurance Services: Historical FinancialInformation Chapter 20: Additional Assurance Services: Other In formation Chapter 21: Internal, Operational, and Compliance Auditing CHAPTER 1 The Role of the Public Accountant in the American Economy Review Questions 1-1 The ―crisis of credibility‖ largely arose from the number of companies that restated their previously issued financial statements as a result of accounting irregularities and fraud. Especially responsible were the very visible Enron and WorldCom fraud cases. Both companies filed for bankruptcy and constituted the largest companies in American history to do so. The extent of the accounting irregularities and fraud being investigated and disclosed brought into question the effectiveness of financial statement audits. In addition, the criminal conviction of Arthur Andersen, LLP, one of the then Big 5 accounting firms, on charges of destroying documents related to the Enron case brought into question the ethics standards of the profession. 1-2 Assurance services are professional services that enhance the quality of information, or its context, for decision -making. The two types are: (a) those that increase the reliability of information and (b) those that involve putting information in a form or context that facilitates decision -making. 1-3 A financial statement audit is, by far, the most common type of attest engagement. The overall assertion, made by management, most frequently is that the financial statements follow generally accepted accounting principles. 1-4 A large corporation with securities listed on a stock exchange is required by the rules of the stock exchange and by the rules of the Securities and Exchange Commission to provide an audit report with the annual financial statements furnished to its stockholders. It also is required to engage the auditors to provide an opinion on its internal control. Apart from legal requirements, however, a large listed corporation recognizes that it must maintain investor confidence in the reliability of its financial statements and internal control over financial reporting if it is to continue to be able to secure capital from the public. The report by a firm of certified public accountants adds credibility to the financial statements prepared by the corporation. When a small family -owned enterprise elects to have an audit, the purpose usually is to use the auditors' report to support an application for a bank loan. 1-5 A report by an independent public accountant concerning the fairness of a company's financial statements is commonly required in the following situations: (1) Application for a bank loan. (2) Establishing credit for purchase of merchandise, equipment, or other assets. (3) Reporting operating results, financial position, and cash flows to absentee owners (stockholders or partners). (4) Issuance of securities by a corporation. (5) Annual financial statements by a corporation with securities listed on a stock exchange or traded over the counter. (6) Sale of an ongoing business. (7) Termination of a partnership. 1-6 To add credibility to financial statements is to increase the likelihood that they have been prepared following the appropriate criteria, usually generally accepted accounting principles. As such, an increase in credibility results in financial statements that can be believed and relied upon by third parties. 1-7 Business risk is the risk that the investment will be impaired because a company invested in is unable to meet its financial obligations due to economic conditions or poor management decisions. Information risk is the risk that the information us ed to assess business risk is not accurate. Auditors can directly reduce information risk, but have only limited effect on business risk. 1-8 At the beginning of the century, the principal objective of auditing was the prevention and detection of fraud. Audit work centered on the balance sheet, because the income statement was regarded as highly confidential and not for public disclosure. Today, the principal objective of auditing is to form an opinion on the fairness of financial statements and their conformity with generally accepted accounting principles. But the professional standards also require that an audit be designed to provide reasonable assurance of detecting material misstatements, due to errors or fraud. Particular emphasis is placed on the income statement which is of great importance to investors. Auditing today also has the objectives of meeting the requirements of the Securities and Exchange Commission (SEC) and the Public Company Accounting Oversight Board for public companies. 1-9 The statement is incorrect. The increasing integrated databases of today, along with available audit procedures make audited entire populations a possibility in many situations. 1-10 An operational audit attempts to measure the effectiveness and efficiency of a specific unit of an organization. It involves more subjective judgments than a compliance audit or an audit of financial statements because the criteria of effectiveness and efficiency of departmental performance are not as clearly established as are many laws and regulations or generally accepted accounting principles. The report prepared after completion of an operational audit is usually directed to management of the organization in which the audit work was done. 1-11 A compliance audit is an audit to determine whether financial reports or other assertions are in compliance with established criteria. The necessary ingredients are verifiable data and the existence of standards established by an authoritative body. An operational audit, on the other hand, is a review of a department or other unit of a business or governmental organization to measure the effectiveness and efficiency of operations. Internal auditors often perform operational audits as do auditors employed by the Government Accountability Office (GAO) of the federal government. 1-12 Internal auditors must be independent of the department heads and other line executives whose work they review. However, internal auditors are not independent in the same sense as a public accounting firm.
Les avantages d'acheter des résumés chez Stuvia:
Qualité garantie par les avis des clients
Les clients de Stuvia ont évalués plus de 700 000 résumés. C'est comme ça que vous savez que vous achetez les meilleurs documents.
L’achat facile et rapide
Vous pouvez payer rapidement avec iDeal, carte de crédit ou Stuvia-crédit pour les résumés. Il n'y a pas d'adhésion nécessaire.
Focus sur l’essentiel
Vos camarades écrivent eux-mêmes les notes d’étude, c’est pourquoi les documents sont toujours fiables et à jour. Cela garantit que vous arrivez rapidement au coeur du matériel.
Foire aux questions
Qu'est-ce que j'obtiens en achetant ce document ?
Vous obtenez un PDF, disponible immédiatement après votre achat. Le document acheté est accessible à tout moment, n'importe où et indéfiniment via votre profil.
Garantie de remboursement : comment ça marche ?
Notre garantie de satisfaction garantit que vous trouverez toujours un document d'étude qui vous convient. Vous remplissez un formulaire et notre équipe du service client s'occupe du reste.
Auprès de qui est-ce que j'achète ce résumé ?
Stuvia est une place de marché. Alors, vous n'achetez donc pas ce document chez nous, mais auprès du vendeur LectJohn. Stuvia facilite les paiements au vendeur.
Est-ce que j'aurai un abonnement?
Non, vous n'achetez ce résumé que pour €16,67. Vous n'êtes lié à rien après votre achat.
