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Why an accounting and auditing research function important

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Reference no: EM132590521

Question 1: Explain why an accounting and auditing research function (like Andersen's PSG) is important in the operations of a CPS firm. What role does the functions play in completing the audit?

Question 2: Do you believe that the engagement leader of an audit (like David Duncan on the Enron audit) should have the authority to overrule the opinions and recommendations of the accounting and auditing research function *like the PSG)? Why or Why not?

Question 3: Do you believe that this provision of the law goes far enough? (Section 203 of SARBOX) That is, do you believe the audit firm itself (and not just the partner) should have to rotate off an audit engagement every five years? Why or why not?

Reference no: EM132590521

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