Identify whether they are safeguards created by profession

Assignment Help Financial Accounting

Reference no: EM13494698

For each of the following safeguards, identify whether they are:

safeguards created by the profession, by legislation or by regulation
safeguards developed by the firm
safeguards which are engagement specific
safeguards within the client's systems

1. disclosure of fees

2. competence of employees

3. using different partners and teams with separate reporting lines for the provision of non-assurance services to an assurance client

4. professional standards and pronouncements

5. timely communication of policies and procedures to all partners and professional staff

6. internal procedures to ensure objective decisions on engagements

7. professional review by other professional accountants

8. involving another firm to perform or re-perform part of the engagement

9. corporate or other governance regulations

10. firm leadership which emphasises compliance and ethics

Reference no: EM13494698

Questions Cloud

Classify each of the following threats : Classify each of the following threats as either; self-interest, self-review, advocacy, familiarity or intimidation.

What is the clinic degree of operating leverage : Assume that the base case forecast is 10,000 visits. What is the clinic's degree of operating leverage (DOL) at this volume level? Confirm the net incomes at the other volume levels using the DOL combined with the percent changes in volume.

Find the force exerted by the wood on the bullet : A bullet of mass 0.002 kg moving at 421 m/s impacts a large fixed block of wood and travels 6.1 cm before coming to rest. find the force exerted by the wood on the bullet

Define the percent by weight of the metal : Suppose you are given a 2.75 g sample of the orginal mixture. You isolated the pure metal from the other components and determined that the mass of the metal was 1.25 g. What is the percent by weight of the metal in the orginal sample

Identify whether they are safeguards created by profession : using different partners and teams with separate reporting lines for the provision of non-assurance services to an assurance client.

Explain what is the moleuclar formula is the molecular : Determine the empirical formula of a compound that is 52% carbon, 13 % hydrogen, and 35 % oxygen. What is the moleuclar formula is the molecular weight of the compound is 46.06 g/mol?

Why would courts want to limit the ability of third party : Control risk has been assessed as high and detection risk is low. What is the timing of the substantive procedures likely to be?

Calculating financial ratios : Calculating Financial Ratios

Explain what mass is theoretical yeild : Before running your reaction, you determined that the mixture amount of product you could obtain was 3.74 g. However, after completeing your reaction the mass of product obtained was only 2.486 g. What mass is your theoretical yeild. What is your ..

User Account

All Pages