Explain the purposes and reasons for public accounting firms

Assignment Help Auditing
Reference no: EM13341115

The CEO of your company recently met with the external auditors to discuss the scope of the year's audit. The auditors suggested that they conduct an integrated audit. The CEO has asked you, the accountant, to make a presentation at the next board of directors meeting that includes the following:

  1. Give a definition of auditing.
  2. Explain the purposes and reasons for public accounting firms to perform an integrated audit. Address the Sarbanes-Oxley Act (SOX).
  3. Explain corporate governance and its relation to integrated audits.
  4. Cite an example of a recent failure in corporate governance.
  5. Find an article in which the actions that the public perceived as necessary to improve the quality of corporate governance are discussed; list the actions requested according to the article.

 

Reference no: EM13341115

Questions Cloud

Documentation for the monthly bank reconciliation process : Write the procedure documentation for the monthly bank reconciliation process in a professional manner and prepare the monthly bank reconciliation for The Gift Shop based on the information provided.
What costs are relevant for each of the following purposes : Department 7 of the Arbia Company manufactures a variety of components for products, one of which is Part No. 211. Data on this part are as follows.
Determine what is the force exerted on the electron : Two square, oppositely charged conducting plates measure 33 cm on each side. They are placed close together and parallel to each other. They have charges of +5.4 nC and -5.4 nC, respectively.
What is the half life of the radionuclide : The activity (decays per second) of a certain radionuclide is observed to decrease by 87.5% in 30 hours. What is the half life T(1/2) of the radionuclide
Explain the purposes and reasons for public accounting firms : Explain the purposes and reasons for public accounting firms to perform an integrated audit and explain corporate governance and its relation to integrated audits.
Explain the difference between profit and cash change : The general manager of Qantas had two concerns: the company's worsening cash position ($3000 cash and No bank loan at the end of 2011, No cash and a $7,000 bank loan at the end of 2012) and an inadequate level of net profit. (According to General ..
Determine how far do the wires stretch : A 20.3?kg chandelier is suspended from the ceiling by four vertical steel wires. Each wire has an unloaded length of 1.15m, how far do the wires stretch
Explain that the patient receives 8 grams of nal : 131I is readily available in Sacramento. Samples of 131I take 10 hrs to properly package and clear security before they are allowed to leave the site. Assuming that it takes 2 weeks to provide the safe ground transport to a clinic in Cleveland Ohi..
At what frequency will the force make the object vibrate : A sinusoidal force with an amplitude of 1.70 N drives the system. At what frequency will the force make the object vibrate with an amplitude of 0.440 m

Reviews

Write a Review

Auditing Questions & Answers

  Audit materiality

Why might planning materiality differ from the materiality level used in evaluating audit findings? What official quantitative guidelines exist for financial statement materiality? Identify one of the quantitative guidelines commonly used in practi..

  Limitations of internal control system

You are an accountant at a local CPA firm that is auditing the accounting records of XYZ Company. You have been asked to educate the accounting department about the limitations of the internal control system in preparation for an upcoming audit.

  Ap/adms 4551 auditing course: and other assurance services

Course:  AP/ADMS 4551 Auditing: and Other Assurance Services,  What is the auditor's responsibility for discovering this type of embezzlement.

  Adjusting entry-interest receivable

Adjusting Entries: Interest receivable at 1/1/06 was $5,000. During 2006 cash received from debtors for interest on outstanding notes receivable amounted to $6,000.

  Has rodney breached any auditing standards

Has Rodney breached any auditing standards-regulations and if so, what and why and do you have any concerns and are there any breaches that have occurred here?

  Audit internal controls questions

Construct the "Processing Cash Collections" segment of the internal control questionnaire on "Cash Receipts" to be used in the evaluation of internal control over the Spartan Drug Store, Inc. Each question should elicit either a yes or a no respon..

  Cssc unqualified audit report

What are the circumstances that could prevent the external auditors from providing an unqualified report? What steps can be taken by CSSC to address any concerns?

  Corporate governance and risk management processes

Understand Corporate Governance, examine and describe recent failures in corporate governance, and identify actions that the public perceived necessary to improve the quality of corporate governance.

  Prepare a memo to the audit partner

Prepare a memo to the audit partner on the ‘state of the company's industry' and associated risk factors - Perform overall analytical procedures to identify significant changes in the financial positions or results of the business which require det..

  Provide internal audit service

Sole proprietor in pulic practice, plans to establish a separate department that will provide internal audit service to his audit clients.

  Review of working papers on audit of new client

Comment on the appropriateness of work done and conclusions drawn by the audit staff and recommend the right course of action, where applicable.

  Characteristics of public accounting

Public accounting firms are sometimes grouped into categories of local firms, regional firms, national firms, and international firms. Explain briefly the characteristics of each. Include in your answer the types of services stressed in each group.

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!

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