The auditor fail to exhibit professional skepticism

Assignment Help Accounting Basics
Reference no: EM131118547

Obtain a copy of Accounting and Auditing Enforcement Release (AAER) No. 3146, issued by the SEC on June 24, 2010.

a. Identify the audit evidence deficiencies described in the release.

b. In what ways did the auditor fail to exhibit professional skepticism?

Copyright 2013 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s).

Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.

c. What sanction did the auditor receive? Does that sanction seem appropriate?

Reference no: EM131118547

Questions Cloud

Calculate the standard deviation of expected returns : EXPECTED RETURNS Stocks X and Y have the following probability distributions of expected future returns:
Determine why one should include time value of money : Determine why one should include time value of money in any financial decision. Elaborate on how this will facilitate better financial decision making.
Demographics and psychographics of target market : Identify the target market for your shampoo IN DETAIL. Describe the demographics and psychographics of the target market separately by giving some specific examples of your own.
Change in business property taxes : Say that Centerville currently collects $50 million in business property taxes. There are 30,000 employees in Centerville, each making about $35,000 per year. Residents of Centerville pay property taxes equal to about 3% of their annual income. What ..
The auditor fail to exhibit professional skepticism : Obtain a copy of Accounting and Auditing Enforcement Release (AAER) No. 3146, issued by the SEC on June 24, 2010.
Methods of attitude change : "How might Ford Motor Company apply the three methods of attitude change in its marketing activities to attract customers to its newest cars? Be sure to describe each method in YOUR OWN WORDS FIRST before using it as an example.
How many homes are rented after the tax is introduced : The residents of Rental City all own their own plot of land, but rent mobile homes. The demand for mobile homes has an elasticity of zero at 2,000 homes. The supply of mobile homes for rent is infinitely inelastic at a rate of $8,000 per year. How ma..
Leadership and practice concepts : A description of the organization and its primary stakeholders. Include the vision and mission statement if they are available to the public, and the code of ethics if the company has one (if it is long, an excerpt or description is an acceptable alt..
Classical conditioning and operant : Marketers are consistently interested in two main types of Learning: Classical Conditioning and Operant/Instrumental Conditioning.  Give one marketing communication (ad) example for each of these types of learning.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Farber corp a distributor of her-based sunscreen is ready

farber corp. a distributor of her-based sunscreen is ready to begin its 3-quarter in which peak sales occur. the

  Budgeted variable overhead cost rate

What is the budgeted variable overhead cost rate per output unit? What is the flexible-budget amount for variable manufacturing overhead? What is the flexible-budget variance for variable manufacturing overhead?

  Jumbo company estimates warranty expense as 5 of sales on

jumbo company estimates warranty expense as 5 of sales. on january 1 warranties payable was 10000. during the year

  Eaton tool company has fixed costs of 200000 sells its

eaton tool company has fixed costs of 200000 sells its units for 56 and has variable costs of 31 per unit. a.

  On november 3 this year kerry acquired and placved into

on november 3 this year kerry acquired and placved into service 7-year business equipment costing 80000. in addition on

  Calculate the net present value of this decision should the

the johnson research organization a nonprofit organization that does not pay taxes is considering buying laboratory

  Preceding events in a horizontal statements model

Preceding events in a horizontal statements model. The first event for 2012 has been recorded - Reconcile all subsidiary accounts with their respective control accounts.

  Here is the deal the offer is 10000 in good quality bonds

here is the deal the offer is 10000 in good quality bonds paying interest at 7. the markek rate of interest for similar

  What types of businesses are in the supply chain

What types of businesses are in the supply chain of an automobile manufacturer?

  Adjusting entries are required at the end of the period to

adjusting entries are required at the end of the period to ensure that accrual accounting principles are applied. the

  Review the material regarding depreciation of long-lived

review the material regarding depreciation of long-lived assets. give an example of a depreciation method and an asset

  The following amortization and interest schedule reflects

the following amortization and interest schedule reflects the issuance of 10-year bonds by capulet corporation on

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