Reference no: EM131458769

Assignment

Case: Smackey Dog Foods

Smackey Dog Foods, Inc. has been a very successful dog food manufacturer for the past few years, but along with their success, they have many issues surrounding their management styles and accounting techniques. These issues are a result of management's inexperience and lack of knowledge of the proper controls related to running a business and the entire accounting aspect.

Q1 Discuss how the SEC has influence (if any) over the audit of Smackey Dog Foods, Inc.

Q2 Discuss the essential activities involved in the initial planning of an audit. How do these all specifically relate to the Smackey Dog Food client?

Q3 Discuss the 4 stages of the audit and the major activities performed by the auditor in each phase. Give an example of how each of the specifically applies to the Smackey Dog Food, Inc. audit. For instance, examine the apparent internal control weakness and possible negative outcome of each.

Q4 Describe Keller CPAs responsibilities related to communications regarding internal control matters. What internal control issues do you identify?

Q5 You decided that you will address Smackey Dog Food, Inc.'s accounts receivable through confirmations. Discuss the various types of confirmations and what forms you will implement and why.

Q6 What are the major factors affecting sample size for confirming accounts receivable?