Solution-Financial statements of information provided by

Financial statements of information provided by the client

Assignment Help Auditing

Reference no: EM131155576

Evaluate the following comments about compiled financial statements: "When CPAs associate their name with compiled financial statements, their only responsibility is to the client and that is limited to the proper summarization and presentation on the financial statements of information provided by the client. The opinion clearly states that the auditor has not conducted an audit and does not express an opinion on this fair presentation. If users rely on compiled financial statements, they do so at their own risk and should never be able to hold the CPA responsible for inadequate performance. Users should interpret the financial statements as if they had been prepared by management."

Reference no: EM131155576

Questions Cloud

When you have group like this it can truly only be effective : When you have a group like this it can truly only be effective if the large power countries are willing to participate. The only thing that could be done is to force countries to participate but that seems very unlikeily and maybe even impossible ..

Specific aspect expected in tomorrow world : Select a specific aspect expected in tomorrow's world (from the end of this chapter or from other sources) and discuss its impact on engineers and engineering managers.

Does the refugee situation influence the balance of payments : Does the refugee situation influence the balance of payments? Why or why not? Do the findings of this article apply to the current situation of the United States? Why or why not? Again, be clear in defending your pos.

Experience on an ethical problem : Prepare a brief report on a specific case from the public print on your own experience on an ethical problem faced by an engineer or engineering manager and how it was resolved.

Financial statements of information provided by the client : Evaluate the following comments about compiled financial statements: "When CPAs associate their name with compiled financial statements, their only responsibility is to the client and that is limited to the proper summarization and presentation on th..

Five categories of definitions ethicists : Which of the five categories of definitions ethicists have developed for "ethics" do you feel best apply to your activities as an engineer?

What policy options can help alleviate the problem : what Policy Options can help alleviate the problem. They have a detailed report on how to write a Policy Brief. (Professor's Tip #1: Read page 15). After each paragraph, ask yourself... "so what".

New project in building a project team : Discuss the precautions you might take as manager of a new project in building a project team to assure that the project does not get off "on the wrong foot".

Determine the speed of prime mover of the generator : A synchronous generator has a rotor with six poles and operates at 60 Hz.

User Account

All Pages

Financial statements of information provided by the client

Reference no: EM131155576

Reference no: EM131155576

Questions Cloud

Reviews

Write a Review

Auditing Questions & Answers

Internal audit

Accounting professional and ethical standards

Prepare swag''s consolidated balance sheet

Auditing and assurance

State of the company’s industry and associated risk factors

Prepare a memo to the audit partner

Adjusting or non- adjusting events

Audit financial data

Identify principal audit risk

Auditing and assurance

National health reform

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

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT