User Account

All Pages

Explain audit report options

Assignment Help Accounting Basics
Reference no: EM132819075

Your audit client is an investment company that specialises in investing in solar energy. The technology is difficult to value and you have obtained two independent valuations which show that the assets may be overvalued in the balance sheet.

  • During the year, you have had issues with the CEO who has been difficult and he is vehemently opposed to any asset write-downs that are being suggested. In prior years, the market has been good and there has been no need for any write-downs. The write-downs will cause the company to have a significant loss in that year. The CEO has the backing of the board. After presenting the suggested asset write-downs to the CEO and board, they are refusing to amend the accounts to reflect the lower values and threatening to change auditors next year.

Required

Problem A) What ethical issues do you face?

Problem b) Explain your audit report options. What audit opinion would you adopt?

Reference no: EM132819075

Questions Cloud

How holistic medicine plays a crucial role in our program : Holistic Nursing is the cornerstone of our program and it is essential to gain a background in understanding the scope and standards of practice.
Describe the types and potential amounts of damages : Completion of the project was delayed by 36 months. Describe the types and potential amounts of damages that GSA may be entitled to
How might your education improve your ability : How might your education improve your ability to lead others, within your organization? As an APN, do you see yourself as a role model for fellow nurses?
What is knowledge discovery in databases : What is knowledge discovery in databases (KDD)? review the various motivating challenges. Select one and note what it is and why it is a challenge.
Explain audit report options : Explain your audit report options. What audit opinion would you adopt? Your audit client is an investment company that specialises in investing in solar energy.
Learning a culture of safety program : Given the staggering cost of workplace injuries, it is critical that occupational health and safety (OHS) training be as effective as possible to reduce inciden
Discuss impact of the environment on patient health : List the support needs of your participant beginning with the highest priority and then in descending order. Discuss the impact of the environment on patient's.
Parking garage charges : A parking garage charges a $2.00 minimum fee to park for up to three hours.
What is the mirr and should start the nile : Hulu, Prime, Netflix, Disney+, CBS. If your discount rate is 6% and you use this as your reinvestment rate, what is the MIRR and should you start "The Nile"?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd