Group plays with respect to audit standard-setting process

Assignment Help Operation Management

Reference no: EM131774240

Various groups (the PCAOB, the SEC, the AICPA, the IAASB, COSO, FASB, and IASB, not to mention state boards of accountancy and the courts) have vested interests in oversight and governance of the accounting profession.

Please respond to all of the following prompts in one combined main response:

Describe the unique role each group plays with respect to the audit standard-setting process. Are all the groups really necessary? Are there redundancies in oversight or governance?

From an auditor’s perspective, which group is the most important? Why?

How do these groups contribute to the maintenance of professional quality?

Reference no: EM131774240

Questions Cloud

Issues of internal control and the writings of di maggio : Using the work of Simons as a set of ideas that can be used to help examine what goes on in issues of internal control and the writings of Di Maggio.

Discuss differences between u.s. gaap and ifrs fraud : The differences between U.S. GAAP and IFRS fraud can occur under either GAAP system

Discuss substantially rehabilitating certain buildings : The tax credit for rehabilitation expenditures is available to help offset the costs related to substantially rehabilitating certain buildings

What is the driver for the overhead activity : Abrams Company manufactures miniature speakers that are built into the headrests of high-end lounge chairs. What is the driver for the overhead activity

Group plays with respect to audit standard-setting process : Describe the unique role each group plays with respect to the audit standard-setting process.

Prepare general journal entries for aztec company : Prepare the January 1 and December 31 general journal entries for Aztec Company

Many ways to grow small business : There are many ways to grow small business. For those having difficulty trying to launch unique value proposition, licensing and franchising existing product

Prepare a cost of production report for the month of july : Beginning work in process: Cost of Inventory at process, July 1 $5,010, Prepare a cost of production report for the month of July

Compute the materials price variance : Compute the materials price variance. Compute the materials usage variance.

User Account

All Pages