Reference no: EM13947432

Question 1
Evidence plays a critical role in auditing. Without quality evidence, auditors cannot arrive at the right conclusions about audit objectives. Evidence can be considered strong if it is persuasive. Persuasiveness, in turn, can be achieved if the evidence is relevant, sufficient, and competent. There is relevance if different results would generate different conclusions regarding the audit objective. There is sufficiency if there is enough evidence to arrive at a conclusion and there is competency if it is credible. When evaluating evidence, auditors may follow 11 guidelines, which focus on the issues of relevance, objectivity, documentation, externality, sample size, sampling method, corroboration, timeliness, authoritativeness, directness and adequacy of controls.

Every auditor needs to present quality evidence, but what makes it competent, relevant, and sufficient isn't always clear. Eleven guidelines can help close the case.

Conduct research on the importance of the quality of evidence relied upon during an audit engagement. Why do you feel it is important to gather quality evidence? Use your research to support your conclusions.

Respond to this... If we had an internal control and auditing process, we would not have a companies take an advantage of the system for example ENRON. Auditing process for the auditing company could be extremely hard and they need to know lot of component to make a right decision for their findings about the company. The auditing companies are outside company looking into process of other company, how they run their day to day operation, financial reports, bank statements, employee funding and many other reports. I think there should be standardizes checklist for the companies to use on auditing process and should be provided by GAAP. This will eliminate any wrong doing by auditing company and this process would be needs to be ever evolving. To able to have a quality audit, you need to have many steps in place to support a strong report. I have found three different source talks about quality audit and I feel that having strong evidence build your case stronger and supports your case. For example, if we had DNA screening in 1970 and 1980, we would not have to rely on people's testimony. You seen in the news that inmate is release after spending 30 years to life in the prison system. Just like i said earlier strong evidence makes strong cases.

Question 2

Leveraging your information literacy skills can provide an advantage to you in a job interview - you benefit if an employer can tell you are well-versed in seeking out information effectively and using it to your advantage.

So how might you do this? Explain one way in which you could make your superior information literacy skills evident in job interview. What examples could you use? How can you make clear the advantage hiring you would provide the employer?

Rrespond to this... There are many ways someone could show that they have a superior skill set in information literacy. It starts by researching and gathering information about the business that they want to work for. That information may contain the core values of the company, information on the job function, or what the company stands for. The applicant should have a good working knowledge about their resume in order to give examples when the opportunity arises. The same thing can be said when asked about questions regarding the previous job, the applicant should use that opportunity to display his/her knowledge about that company. It gives the impression that the applicant has experience and knowledge in the related field.

Question 3

Visit the website of the Congressional Budget Office (https://www.cbo.gov) and find the U.S. Federal deficit (surplus) and total debt. As late as 1992, the United States was running budget deficits of nearly $300 billion. During the remainder of the 1990's, deficits declined and became surpluses. As the new century began, these surpluses again turned into deficits.

• Explain the decline in deficits and subsequent surpluses in the late 1990's.
• Explain the return to deficit spending since the turn of the century.
• Consider the causes of the deficits and surpluses and provide your own insight as to whether these surpluses or deficits have a "positive" or "negative" effect on our economy.

Respond to this... With the decline of the of the deficit in 1990 when the Budget Enforcement Act happened it caused an effect of paying as you go for certain entitlements. It was only for 12 years and the government was supposed to extend it so that it could continue however it was not. Since it was never extended it meant that our country was more and more in debt. In this happening things like the defcit going higher and higher. Which means we are more and more in debt to other countries.

I think that the deficit and surplus have more of a negative effect on our country which means more of those funds go to other things and then there is less money for other things the country needs. Plus, it continues to rise so this is very negative when you think of it. It means that there is a lot of programs that are cut because the government needs to find ways to pay the debt. Since there is no longer a budget enforcement act there is not pay as you go program and therefore, there needs to be ways to solve this issue.

Question 4

The written word has had an impact on the human condition for centuries. We have all been touched in some way or another by literature. This week, you will take a literary journey by searching the Internet for the pieces below. In addition to reading the story, you should find out something about the author of your chosen piece as well. After making your choice, come back and share your impressions of the story and explain how it contributes to our discussion of the Humanities.
Choose one of the following options (or find a piece of literature of your choosing to report on):

• "A Rose for Emily" by William Faulkner
• "Girl" by Jamaica Kincaid
• "The Story of an Hour" by Kate Chopin
• "Exodus" by James Baldwin
• You may also choose the following story: "Free" by Georgia Douglas Johnson

Respond to this... William Faulkner was a little boy he did great in school he skipped a grade, however when he got around the seventh grade he started to play hookie and later on he repeated some grades and ended up not graduating. Also while growing up he would listen to stories told by his elders and her found out he was named after his great-grandfather William Clark Falkner, who was a great man in business. He wrote his first novel the summer of 1927. A Rose for Emily is weird is the word that came to my mind after I read about it. So basically it is about a lady whos has died but then it goes back to when her father died and how she was acting after her passed and how she did not pay taxes, her father had a deal where he did not need to pay them and then their was a new town leader that wanted to start collecting them from her. Some other things happened and she shut down her house and never left it people only saw the house helper come and go. Then at her death of sevnty-four no one had entered her house intil her funeral. This story shows how people act different in different situations.