Where it is unnecessary to verify managements information

Assignment Help Other Subject
Reference no: EM13918853

Provide an original and substantive response to the questions posed in your Journal in a minimum of 200 words. After reading and discussing how important it is for auditors to gather evidence to back up client claims, you are now introduced to accounting services where it is unnecessary to verify management's information. In providing these compilations, how comfortable would you be in preparing financial statements based on data that you are not going to verify? What concerns would you have signing off on these compilations as a CPA? Because you are not performing audit services on the compilations, how do you know if information you are given is true? What types of questions could you ask your client that would fall within the realm of compilations without crossing the line into auditing?

Reference no: EM13918853

Questions Cloud

Sales analysis of a product : The sales analysis of a product revealed that profits were highest when it was initially introduced into the market with a high selling price. However, the price was gradually reduced as it started facing competition as substitutes entered the mar..
What is the buzz on smart grids : What's the Buzz on Smart Grids? Collaboration and Innovation at Procter & Gamble, How Much Do Credit Card Companies Know About You'?
Write a proposal for a design of a new technological system : Designing Media Project: You will write a proposal for a design of a new technological system, or new application of an old system. The proposal will describe the system, and the reason for the system
Photocopying for sales department-administrative department : Triton Company's copy department, which does almost all of the photocopying for the sales department and the administrative department, budgets the following costs for the year, based on the expected activity of copies:
Where it is unnecessary to verify managements information : After reading and discussing how important it is for auditors to gather evidence to back up client claims, you are now introduced to accounting services where it is unnecessary to verify management's information.
Accounting major and has number of options for summer break : Elroy Rocket is entering his senior year as an accounting major and has a number of options for his summer break. His options for the 3 month break follow:
Reasonable to view the auditor as a guarantor : Why is public accounting often viewed as a guarantor of results, or even as a provider of assurance that one's investment is of high quality? To what extent is it reasonable to view the auditor as a guarantor? Explain. To what extent do you believ..
The current price of a non-dividend-paying stock : The current price of a non-dividend-paying stock is $30. Over the next six months it is expected to rise to $37 or fall to $25. Assume the risk-free rate is zero. An investor sells a call option with a strike price of $31 per share. How would the inv..
What is the percentage change in price of bond : Both bond A and bond B have 6.6 percent coupons and are priced at par value. Bond A has 8 years to maturity, while bond B has 15 years to maturity. a. If interest rates suddenly rise by 1.2 percent, what is the percentage change in price of bond A an..

Reviews

Write a Review

Other Subject Questions & Answers

  Earned value when assessing project performance

Why is this traditional approach different from using earned value when assessing project performance?

  Age of massive budget deficits and increased

In this day and age of massive budget deficits and increased Congressional Oversight has the DIA become redundant?

  Discuss the process of memory

Discuss the process of memory. In particular, discuss the different types of memory and relate each one to a personal experience

  About social psychological experiments

Which of the following is least true about social psychological experiments?

  People in the community challenge

School districts in the United States sometimes capture media attention when people in the community challenge the books assigned to students for instruction. These debates relate to the

  Physiological process of aging

Find a video clip from a reputable national or local news station focusing on the physiological process of aging (Ferrini & Ferrini, 2013). Search the major news station websites (For example: CNN, ABC, NBC, FOX, CBS) to locate a video between 2-5..

  Type of market-reimbursement method

What is the difference between capitation and fee for service (FFS)? Describe the type of market appropriate for each reimbursement method.

  Acts of collective behavior

In what ways, if any, are riots rational acts of collective behavior? In what ways, if any, are riots productive? Counterproductive? With all of the social inequality and social injustice that exist in the United States, why do you think there aren't..

  Why are businesses interested in BOP markets

Why are businesses interested in BOP markets? What are some examples of products developed to profitably serve BOP markets? What are some of the challenges of serving BOP markets? In what ways might BOP markets be a source of innovation?

  In the case of the mood disorders

In the case of the mood disorders, therapists can expect to be consulted by

  Premises and conclusions of each argument

Identify at least two arguments in the article. Outline the premises and conclusions of each argument you find. Then, answer the following questions for each argument, making sure to explain how you arrived at your answers.

  What is an ethical policy

What is an ethical policy? Explain whether the policies you have created are ethical. What are the legal and ethical concerns that need to be addressed when implementing the policies?

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