Auditors really add to the financial reporting process

Assignment Help Financial Accounting

Reference no: EM131215689

Is it possible to write about that how much value do you think auditors really add to the financial reporting process? In other words, are the auditors really doing what the public thinks they are doing? If no, what's the fix, eliminate auditing or do more work? Please provide detailed answer.

Can you tell how can we close the expectation gap for auditing? Please explain clearly.

Reference no: EM131215689

Questions Cloud

Lease agreement that qualifies as capital lease calls : A lease agreement that qualifies as a capital lease calls for annual lease payments of $25,000 over a six-year lease term, with the first payment at January 1, the lease’s inception. The interest rate is 5% (FV of $1, PV of $1, FVA of $1, PVA of $1, ..

Prepare amortization schedule for four-year term of lease : American Food Services, Inc., leased a packaging machine from Barton and Barton Corporation. Barton and Barton completed construction of the machine on January 1, 2013. Prepare an amortization schedule for the four-year term of the lease. Prepare the..

Investment project-What is the NPV of this investment : Johnson Chemicals is considering an investment project. The project requires an initial $3 million outlay for equipment and machinery. Sales are projected to be $1.5 million per year for the next four years. The equipment will be fully depreciated st..

Difference in general and specific antiavoidance provisions : Cherrie is a resident individual. She receives the following amounts from her various investments during the year: $2,000 – Fully franked dividend from a resident public company with an imputation credit of $800. $3,000 – Un-franked dividend from a n..

Auditors really add to the financial reporting process : Is it possible to write about that how much value do you think auditors really add to the financial reporting process? In other words, are the auditors really doing what the public thinks they are doing? If no, what's the fix, eliminate auditing or d..

Research and find the financial statements of college : Research and find the financial statements of a college or hospital and see how their reporting differs from other governmental organizations you have learned about in this class. Post both the financial statement and your listing of the differences.

Scope of complaints under the consumer protection act : What are the rights of a surety? Explain duties of a Bailor and a Bailee. “Power of Attorney is considered as an important concept in Business Law”. Explain “The Banking Regulation Act, 1949, provides various methods of regulation of the banking busi..

Describe how you can choose appropriate forecasting model : Describe CPM technique of project planning. What do you understand by managing cash flow? Describe how you can choose an appropriate forecasting model. How you can display data using Gantt chart and Network Diagram Chart in MS Project. How to create ..

Discuss the importance of ethics in international business : “Environment scanning is an important part of international business.” Explain your views on this statement and discuss what factors need to be scanned. What is FDI? Why is it considered as the best option for a developing country like India? Explain..

User Account

All Pages