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ACC 405 Auditing - Emirates College of Technology
Question 1: Discuss the similarities and differences between the two types of servicesprovided by audit firms.
Question 2: Review Enron scandal case on the internet, and explain the misconduct of auditors and how they hidmanagement's manipulation.
Question 3: Identify for each of the following cases if the auditor independence is impaired or not and if yes, indicate due to which categories of threats.
Cases
In Dependence impaired?
Categories of threat
A An audit partner assigned to a new audit client holds
sh 1,000 shares of the client's stock.
A A member of the audit team joinsas an ordinary
M member a charity association which the client is also a m member.
A A member of the audit team provides recruiting
Se services to an audit client.
A A member of the audit team accepting a gift from a cliclient and the acceptance of the gift is made public.
T The compliance department noted that a member of the th audit team had performed tax services for the client ovthe past 2 years. After further investigation, it was deemedm that these services were not material in nature.
A A new employee recruited of the audit client having
re recently been a member of the audit firm.
Question 4: The risk of material misstatement is a combination of two client-controlled factors: what are these factors? Explain which factor is more important and give 2 examples for each risk factors.
Attachment:- Auditing.rar
Complete the Financial Data Analysis Template. In the fourth column, calculate the percentage change from the 2008 number.
Implications for future or industry or auditors. Were other auditors affected by the lawsuit and settlement? What does this mean for the future of auditing?
Who was the audit committee financial expert? Do you think that the experiences of this individual as described should ensure that he is truly a financial expert capable of fulfilling his roles in this regard?
Please pick one area and discuss your understanding of the "design and perform audit tests" of that area. Design and perform audit tests of property
What are the organizational implications when most managers have different or similar values?
max 1000words need to answer following questions thats it selected company name is capral
What types of unethical behavior should we expect to see from our clients? Also, how do we interpret "honest" mistakes from intentional fraud?
What is the issue in this situation and what sections of the Act are bought into question? Is there something that should be in place with the audit firm?
Indicate the specific detailed test or tests that might address the error, fraud, or circumstance and the financial statement assertion addressed by each test.
Audit deficiency report in relation to an individual audit firm if it identifies an audit deficiency in the auditor's quality control system or the conduct of an audit that may be detrimental to the overall quality of the audit
Compute the ending balance of accounts receivable on 12/31/10. Compute the accounts receivable turnover ratio for 2010. Computer the average collection period in days.
How much revenue does Minarski Electronics recognize for the month ended April 30th, assuming that revenue is accrued monthly?
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