Solution-What can auditors do in order to combat the

What can auditors do in order to combat the deficiencies

Assignment Help Accounting Basics

Reference no: EM131752213

Question: According to the Information about 2016 Inspections, the PCAOB states, Audit areas where deficiencies have been identified in previous inspection cycles, including internal control over financial reporting, assessing and responding to risks of material misstatement, and accounting estimates, including fair value measurements. Recurring audit deficiencies continue to be identified in the most frequently selected financial reporting areas, such as revenue, non-financial assets, inventory, and financial instruments.

What can auditors do in order to combat these deficiencies? Name an example from one or several of the cases were one of these deficiencies occurred and ways to combat the deficiency in the future. (answer in essay form, min. of 500 words, be detail and specific)

Reference no: EM131752213

Questions Cloud

Record a valuation allowance for deferred tax assets : In Google's balance sheet, deferred income taxes in 2010 are reported as both a current asset ($259 million) and a noncurrent asset ($265 million).

Charge of coding compliance at hospital : If you were in charge of coding compliance at your hospital, what are some key components of the coding compliance plan that you would include?

Putting together problem-solving team : Would these factors be different if you were putting together a problem-solving team?

Differences between the core documentation standards : What are the similarities and differences between the core documentation standards for inpatients versus outpatients? Please provide detail explanation.

What can auditors do in order to combat the deficiencies : According to the Information about 2016 Inspections, the PCAOB states, Audit areas where deficiencies have been identified in previous inspection cycles.

Consider a prevention initiative you know about : Consider a prevention initiative you know about, such as D.A.R.E. or "Just Say No." How and why has it been effective in addressing a particular problem?

E-commerce business models and concepts : If you choose to be an expert for E-commerce business models and concepts explain why you would choose it, and why?

Calculate the depreciation using straight-line : Calculate the depreciation using straight-line, double-declining-balance (DBB), and MACRS (current IRS regulation) methods;

Examine production analysis of the inquirer : According to information found on the production analysis page of the Inquirer, Chester sold 1127 units of City in the current year.

User Account

All Pages

What can auditors do in order to combat the deficiencies

Reference no: EM131752213

Reference no: EM131752213

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT