Explain the role of professional skepticism in the context

Assignment Help Auditing
Reference no: EM13886899

Refer to the Auditing in Practice feature "Description of Common Types of Earnings Management Techniques." Why might it be difficult for auditors to disallow companies' preferences to decrease existing reserves? Explain the role of professional skepticism in the context of evaluating management's explanations for their accounting for reserves in this context.

Reference no: EM13886899

Questions Cloud

What type of negative risk response strategy is this : The project manager decides to not upgrade to the new, unfamiliar operating system until the ongoing IT project is completed. What type of negative risk response strategy is this
Find the center mass : A thin rod sits along thexaxis with one end atx= -aand the other end atx=a, wherea=2.4m. The rod has anon-uniform densitygiven by(x+a)2, where=1.7kg/m3. I already got the total Mass= 62.669, but now I need to find the Center Mass.
Sketch the mohr circle diagram : A body is loaded under a stress state σx = 400, σy = 100, τ xy = 120, τ yz = τ zx = o z = 0. A. Sketch the Mohr's circle diagram.
What aspects of the process should the auditor understand : When testing accounts that are based on management estimates. As part of obtaining that understanding, what aspects of the process should the auditor understand?
Explain the role of professional skepticism in the context : Explain the role of professional skepticism in the context of evaluating management's explanations for their accounting for reserves in this context.
Calculate maximum velocity : A 100 kg body falls from rest from a height of 100 m above the ground. Calculate its maximum velocity when it hits the ground. (a) Use the maximum value for gravity, (b) use the minimum value for gravity, and (c) use the standard value for gravity.
What is likely the primary concern of your senior : You let your senior know that you likely do not have any additional work to perform. Your senior asks you to reconsider your conclusion. What is likely the primary concern of your senior?
Write essay on any environmental topic : Search for a science article from the Elsevier ScienceDirect research database at the Hunt Library using the ScienceDirect tutorial.
Challenges and emerging trends : Insights on best practices, challenges and emerging trends. It will be a power point presantation.

Reviews

Write a Review

Auditing Questions & Answers

  Internal audit

Describe and evaluate this type of internal audit. What types of organisation would it be most useful for?

  Accounting professional and ethical standards

Code of Ethics for Professional Accountants

  Prepare swag''s consolidated balance sheet

Prepare Swag's consolidated balance sheet

  Auditing and assurance

Notable operational challenges for 4X Heavy Ltd faced in 2012/2013 were but not limited to

  State of the company’s industry and associated risk factors

Audit partner is concerned about his lack of knowledge of the industry the company is operating in, state of the company's industry and associated risk factors

  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.

  Adjusting or non- adjusting events

State whether Event is adjusting or non-adjusting event.

  Audit financial data

As a consequence an accounts payable clerk and financial accountant were made redundant from the business during the year.

  Identify principal audit risk

To identify principal audit risk and corresponding audit procedures

  Auditing and assurance

Show the audit inherent risk and rate the risk as low, medium or high.

  National health reform

Explain the role of the following three 'bodies' in National Health Reform

  Prepare a memo on the state of the company''s industry

Prepare a memo on the 'state of the company's industry' and associated risk factors.

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