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You are required to identify a current controversy relating to Auditors' Independence. Journal websites, articles and Magazines may be valuable sources of material. You should then write a 2500 word essay which shows their understanding of the issue, outline the several arguments revolving around the issue, and justifies your own position on the issue.
To identify principal audit risk and corresponding audit procedures
Prepare Swag's consolidated balance sheet
Show why each of the five areas specified by the audit committee may or may not be suitable for this assurance engagement.
Prepare the consolidation removal entries
How large would the salvage value of the automated equipment have to be to make the investment in the automated equipment financially attractive?
Show a qualified opinion on the financial statements because of the client imposed scope limitation.
Prepared in good form a working paper and conclude whether the auditor can rely on the control of authorization of credit. Your working paper could add the sampling steps identified in the textbook for tests of controls.
Determine the information contained in internal audit report
You are required to identify a current controversy relating to Auditors' Independence.
Income tax liability. Fisher's tax attorney informed you that it is possible that the client will have to pay $875,000 in taxes regarding a tax dispute that started four years ago.
Evaluate planning materiality, and tolerable misstatement. Justify your decisions. Determine the audit findings. Justify your decisions.
Write journal entries for each transaction and Evaluate profit and loss for given case
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