Eliminate auditors legal liability to nonprivity parties

Assignment Help Operation Management

Reference no: EM132172055

1. Think about the Dallas consumer vs the Tokyo consumer...do they have more in common with each other than with, for example, the Fargo, N.D. consumer or Okinawa, respectively?

2. When assessing audit risk, should auditors consider the type and number of third parties that may ultimately rely on the client’s financial statements? Should auditors insist that audit engagement letters identify the third parties to whom the client intends to distribute the audited financial statements? Would this practice eliminate auditors’ legal liability to nonprivity parties not mentioned in engagement letters?

Reference no: EM132172055

Questions Cloud

Choosing the two companies that did not go out of business : what would have been the probability of the investor choosing the two companies that did not go out of business?

Define how to resolve customer complaints : Grand View Grocers Corporation, headquartered in Clewiston, Florida, is among the nation's top grocery chain companies, with over $34 billion in revenue.

Power of regulation over healthcare insurance : What are some benefits of states having the power of regulation over healthcare insurance?

How should this person account for the collection : The taxable income for last year was $75,000. During current year this person collected $12,000 on the debt. How should this person account for the collection

Eliminate auditors legal liability to nonprivity parties : Would this practice eliminate auditors’ legal liability to nonprivity parties not mentioned in engagement letters?

What are his deductions for medical expenses for the year : A person age 45 had AGI of $40,000 had a skiing accident. What are his deductions for medical expenses for the year

Explain the key functions of management : Explain the key functions of management that are essential for CanAir Limited and TravelAge

How auditors litigation risks differ under common law : Also comment on how auditors’ litigation risks differ under the common law and the 1934 Act.

Differences in compensation levels are determined : Imagine you are a human resource manager and need to explain how the differences in compensation levels are determined.

User Account

All Pages