...established through the Sarbanes-Oxley Act to provide oversight over auditors for public companies audit, establishes auditing and quality control standards for public company audits, and performs inspections of the quality controls at audit firms performing those audits. The American Institute of Certified Public Accountants (AICPA) is responsible for issuing auditing, attestation, and quality control statements, standards and guidance to certified public accountants for private companies. 2-10 The criticism of the 10 GAAS by some critics, is founded in the belief that by the GAAS being more specific, then they would thereby eliminate some difficult audit decision and provide a line of defense for a CPA firm charged with conducting an inadequate audit. However, highly specific requirements could turn auditing into mechanistic evidence gathering, devoid of professional judgment. Therefore, from differing points of views, there is probably greater harm in defining authoritative guidelines too specifically than too broadly. 2-16. a. The first general standard, which states in part that the audit must be performed by a person or persons having adequate technical training, requires that an auditor have (1) education and experience in the field of auditing. b. Which of the following best describes what is meant by generally accepted auditing standards? (4) Audit objectives generally determined on audit engagements. c. The general group of the...
Words: 1069 - Pages: 5
...Chapter 1 Multiple-Choice Questions |1. |Recording, classifying, and summarizing economic events in a logical manner for the purpose of providing financial | |easy |information for decision making is commonly called: | |c |a. finance. | | |b. auditing. | | |c. accounting. | | |d. economics. | | | | |2. |In the audit of historical financial statements, which of the following accounting bases is the most common? | |easy | | |c |a. Regulatory accounting principles. | | ...
Words: 2738 - Pages: 11
...Auditing Exam 1 Review Ch 1 Nature of Auditing: * Auditing is the accumulation and evaluation of evidence about information to determine and report on the degree of correspondence b/w the information and established criteria. * Auditing should be done by a competent, independent person. Information and Established Criteria: * To do an audit, there must be information in a verifiable form and some standards (criteria) by which the auditor can evaluate the information. Accumulating Evidence and Evaluating Evidence: * Evidence is any information used by the auditor to determine whether the information being audited is stated in accordance with the established criteria. Competent, Independent Person: * The auditor must be qualified to understand the criteria used and must be competent to know the types and amount of evidence to accumulate to reach the proper conclusion after the evidence has been examined. * The competence of the individual performing the audit is of little value if he or she is biased in the accumulation and evaluation of evidence. Reporting: * The final stage in the auditing process is preparing the Audit Report, which is the communication of the auditor’s findings to users. Distinguish b/t auditing and accounting: * Accounting is the recording, classifying, and summarizing of economic events for the purpose of providing financial information used in decision making. * Auditing is determining whether recorded information...
Words: 1056 - Pages: 5
...Auditing Theory -Auditing and Assurance Services- An integrated approach Chapter 1 The assurance service market Objective 1-1 describe auditing: Auditing: accumulation and evaluation of evidence about information to determine and report on the degree of correspondence between the information and established criteria. Auditing should be done by a competent, independent person. Evidence: any information used by the auditor to determine whether the information being audited is stated in accordance with the established criteria. To satisfy the purpose of the audit, auditors must obtain a sufficient quality and volume of evidence. Forms of evidence: - Transaction data - Client testimony - Written and electronic communications with outsiders - observations To do an audit there must be information in a verifiable form and some standards (criteria) by which the auditor can evaluate information. The auditor must be qualified to understand the criteria used and must be competent to know the type and amount of evidence to accumulate in order to reach the proper conclusion after examining the evidence. The auditor must also have an independent mental attitude. The final stage in the auditing process is preparing the audit report which communicates the auditor’s findings to the users. It must inform the readers of the degree of correspondence between information audited and the established criteria. Objective 1-2 distinguish between auditing and accounting Accounting: recording...
Words: 874 - Pages: 4
...Liuting Han Accounting 439, Sec #01 Assignment #1 1-25: The objective of external auditing is to provide opinions on the reliability of the financial statements and, as a part of an integrated audit, provide opinions on internal control effectiveness. The overall objective of external auditing is to ensure that the financial statements of an organization are correct and are in order. The external audit is intended to enhance the confidence that users can place on management-prepared financial statements. When the auditor has no reservations about management’s financial statements or internal controls, the report is referred to as an unqualified audit report. If the auditor had reservations about the effectiveness of the client’s internal controls, the auditor would issue an adverse opinion on internal controls. The auditors should find fraud, require accounting principles that best portray the spirit of the concepts adopted by accounting standard setters, and be independent of management. Managements need the unbiased and correct financial information to make operational decisions. Shareholders need the information to decide to invest or not. Tax authorities need the information to determine taxable income. 1-31: a) Describe the unethical actions of Susan Birkert. Susan Birkert told her friend the stock of Cometech Corporation that she was auditing was a good investment. Also, she agreed to her friend to purchase stocks on her behalf and she gave her friend...
Words: 947 - Pages: 4
...491 Contemporary Auditing 1, Complete Course + Final Exam Purchase here http://chosecourses.com/acc-491-contemporary-auditing-1-complete-course-final-exam Product Description WEEK 1 Individual Assignment, Generally Accepted Auditing Standards Discussion Questions 1, 2 and 3 Weekly Summary WEEK 2 Individual Assignment from Text, Questions 1-23 Learning Team, Auditing, Attestation, and Assurance Services Paper 1 Learning Team, Auditing, Attestation, and Assurance Services Paper 2 Discussion Questions 1, 2 and 3 WEEK 3 Individual Assignment from Text, 5-29, 5-30, 6-20, 6-21, 6-22, 7-22 Learning Team Assignment, Assessing Materiality and Risk Simulation Paper Learning Team Assignment, Assessing Materiality and Risk Assessment Presentation Learning Team Assignments from Text, Exercises 6-26, 7-25 Discussion Questions 1, 2 and 3 WEEK 4 Individual Assignment from Text, 8-15, 8-16, 10-31, 10-32 Learning Team Assignment - Apollo Shoes Case Assignment Discussion Questions 1, 2 and 3 WEEK 5 Individual Assignment from Text, 11-6, 11-8, 11-9, 13-8 Learning Team Assignment - Audit Sampling Case Memo Weekly Summary Final Examination ACC 491 Contemporary Auditing 1, Complete Course + Final Exam Purchase here http://chosecourses.com/acc-491-contemporary-auditing-1-complete-course-final-exam Product Description WEEK 1 Individual Assignment, Generally Accepted Auditing Standards Discussion...
Words: 890 - Pages: 4
...In this case study, the causes of that the Andersen’s auditing of companies accused of accounting improprieties, it’s has a main factor. Because Athur Andersen do not think about the company who is to cooperate whit it is like Athur Andersen to make deceptive accounting. These four real cases to show us how they operate the deceptive accounting. First point, “Sunbeam.” 1997 sunlight company (SUNBEAM) is referred to the forge sales volume, the profit and the expenditure. Under its partner discrete sampling's premise, Andersen had still approved the sunlight company to have the questionable point financial reporting. Finally, Sunlight Company suspends pay. Claim request which proposed regarding the American negotiable securities and the transaction committee, Andersen strong against. Finally, to accuse in the situation which shows neither approval nor disapproval, Andersen and the shareholder out of court settlement, compensates $110million dollars. Second point, “waste management.” Waste Management the company to make a false report gathers shares the desk, Waste Management Company’s financial reporting 1992 to 1996 income false report to amount to $1.4 billion dollars to the company. The American negotiable securities and the transaction committee discovered that Andersen's report has the misleading function. Rules it to be a suspect the improper occupation operation finally. Andersen has accepted this ruling, and has paid damages $7 million dollars civil fine. The Andersen...
Words: 438 - Pages: 2
...An anonymous caller seeks help from her former university professor. The caller thinks that the company that he is working for only three and one-half month is committing a fraud. The main reason that the caller is worried is because he is the controller of the company and he has to sign the quarterly statement of his privately-held company. Those quarterly statements are for the bank that his company has the line of credit, those statements have to look good so that the bank approve their credit. There are two big problems in the case. The first one is the as he started on the company he had to sign the closing of the prior fiscal year. If the fraud was being made in the last year, he could be treated like an accessory to the fraud because he signs the statements. The other problem is that the CEO and CFO, the highest in command, are the ones that are committing the fraud. I would recommend that the caller has to report the fraud to the FASB. The Financial Accounting Standards Board (FASB) has been the designated organization in the private sector for establishing standards of financial accounting that governs the preparation of financial reports by nongovernmental organizations. Those standards are officially recognized as authoritative by the Securities and Exchange Commission (SEC) and the American Institute of Certified Public Accountants. If the caller continues to work in the company he could get caught committing the fraud and could go to jail. There are two risks if...
Words: 634 - Pages: 3
...INSS 370 Final Exam Study Guide Below is a study guide for your final exam. There will be a combination of true/false and multiple choice questions. 1. Who is responsible for prioritizing the product backlog? 2. What does a burn‐down chart show? 3. What are the principles outlined in the Agile Software Development Manifesto? 4. If our highest priority is to satisfy the customer through early and continuous delivery of valuable software, in general, how can we do that? 5. In agile software processes are the highest priorities to satisfy the customer through early and continuous delivery of valuable software? 6. What traits need to exist among the members of an agile software team? 7. In agile development is it more important to build software that meets the customers' needs today than worry about features that might be needed in the future? 8. The ____ phase of the SDLC includes four main activities: requirements modeling, data and process modeling, object modeling, and consideration of development strategies. 9. One of the main activities in the systems analysis phase is ____ modeling, which involves fact‐finding to describe the current system and identification requirements for the new system. 10. How is planning performed on projects that use Agile approaches? 11. Who should be the main judge of the business value (think of the various roles within an agile team)? 12. How should work be allocated and who should allocate the work to the team in an Agile ...
Words: 443 - Pages: 2
...Identifying Good or Bad Statements Anit Maharjan HUMN210-H5WW Meghan Roehll Franklin University 4th April, 2013 a. Nobody in the world today is really good. Yes, I have heard of good people, but not really good people. - Good statement. b. The world is not flat. Well, if you look at a map it is: - in what point of view - bad statement. c. I will need an extended period of laborious cogitation to assimilate the missive. This doesn't make any sense - bad statement. d. The number 2 is odd. Are we talking about an even number? I believe your confusion comes from the fact that 2 is a prime number, but it is still even. It is the only even number that is prime – false statement. e. If you believe in evolution, then your ancestors were filthy apes. There are two kinds of people in the world: - one is god prayer and the next is science believer. If you support the statement from the point of scientific theory of evolution by Darwin, then yes our ancestors are filthy apes, whereas if you think form the side of god’s prayer then the statement is false – good statement. f. Some swans are black. In this statement, I am not sure that some swans are black or not, all swans could be black or white – good statement. g. If you are a human, then you are a person. If you are an individual, then you are alive. Human is a person and of course the person becomes an individual and every individual breaths...
Words: 384 - Pages: 2
...អាណាចក្រភ្នំ អាណាចក្រភ្នំ គស 50-630 ទីតាំង * ៣០០លី លិចលីនីយ(ជនជាតិចាម) * ៧០០០លី Jenan(តុងកឹង) * ឈូងសមុទ្រធំមួយ * ទន្លេរធំមួយ លិចនឹងពាយព្យគឺសមុទ្រ * ១លី=៥៧៦ម=១៧២៨គម=> 1. កម្ពុជា 2. កម្ពុជាក្រោម 3. ថៃ(ភាគកណ្តាល) រាជវង្សមាន៖ 1. លីវយី(៥០-៦៨) 2. ហ៊ុនទៀន(៦៨) 3. ហ៊ុនប៉ានហួង៖ដែលជាមេទ័ពបានប្រើល្បិចវាយក្រុងទាំង៧នឹងបានដណ្តើមអំណាចពីព្រះ បាទហ៊ុនទៀន 4. ហ៊ុនប៉ានប៉ាង៖ជាកូនហ៊ុនប៉ានហួង 5. ហ្វាន់ជេម៉ាន់៖ជាអ្នកសំលាប់សោយរាជ្យបន្តរឺក៍ហ៊ុនប៉ានប៉ាងផ្ទេរអំណាចអោយ 6. គិនចេង(២២៥)៖ត្រូវជាកូនរបស់របស់ហ្វាន់ជេម៉ាន់ពីព្រោះគាត់បានស្លាប់ពេលវាយ នៅ គិនស៊ីន 7. ហ្វានឆាន(២២៥-២៤៥)៖បានសំលាប់គិនចេងដើម្បីសោយរាជ្យបន្តដែលត្រូវជាក្មួយហ្វាន់ជេម៉ាន់នឹងត្រូវជាបងប្អូនគិនចេង 8. ហ្វានឆាង(២៤៥-២៥០)៖ជាកូនពៅរបស់ហ្វានជេម៉ាន់បានមកសងសឹកនឹងសោយរាជ្យបន្ត 9. ហ្វានស៊ីយ៉ុន(២៥០-២៨៩)៖បានសំលាប់ហ្វានឆាងសោយរាជ្យបន្ត 10. ធៀនឈូឆានតាន(៣៥៧) 11. កៅណ្ឌិន្យ(៣៥៧)៖គាត់មានកូនពីរគឺស្រីឥន្រ្ទវរ្ម័ននឹងស្រេស្ធវរ្ម័ន 12. កៅណ្ឌិន្យជ័យវរ្ម័ន(៤៤២-៥១៤)៖មានបុត្រាពីរគឺគុណវរ្ម័នជាប្អូននឹងរុទ្រវរ្ម័នជាបងក៍ប៉ុន្តែគុណវរ្ម័នជាអ្នកសោយរាជ្យដែលត្រូវជាកូនកុលប្រភាវតីជាមហេសីរីឯរុទ្រវរ្ម័នជាកូនស្នំ។ដោយមិនសុខចិត្តព្រោះខ្លួនជាបងមិនបានសោយរាជ្យក៍ប្រើល្បិចសំលាប់ប្អូនដើម្បី សោយរាជ្យម្តង។ 13. គុណវរ្ម័ន 14. ចេនឡា ចេនឡា រុទ្រវរ្ម័ន(៥១៤-៥៥៦) គស ៥៥០-៨០២ 15. ឥសីកម្ពុស្វយម្ហូវ៖ 16. ស្រុតវរ្ម័ន៖ 17. ស្រស្ធវរ្ម័ន៖ 18. វីរវរ្ម័ន៖ 19. ភវរ្ម័ន(៩០០-៩២២)៖ * ទីតាំងរបស់ចេនឡានៅត្រង់តំបន់បាសាក់តាមដងទន្លេរមេគង្គដែលច្ចុប្បន្ននៅភាគ អាគ្នេយ៍ប្រទេសឡាវ...
Words: 350 - Pages: 2
...– – – – • – – • – • • • • – – – – • • • – – – – – – Wood Stick Holder Premium Wood Stick Holder Glow in the Dark Stick Holder Brass Burner Premium Brass Burner Aroma Ring Votive Holder NIPPON KODO INCENSE HERB & EARTH STICKS STICKS Classic STICKS CONES AFRICAN AMERICAN Family Unity – – Rhythm Sensuality Spirituality • • • • Bergamot Cedar • • • Fashion & Style • Number 4 - 100-st Number 6 - 100-st Chamomile Frankincense Jasmine Lavender Orange Patchouli Peppermint Rose Sandalwood Vanilla GONESH DIFFUSER SETS 3 fl.oz. Coconut Lime Mango Peach Sweet Apple Vanilla Cream REFILLS - 6 oz Coconut Lime Mango Peach Sweet Apple Vanilla Cream HOLIDAY TRADITIONS Number 8 - 100-st Number 10 Number 12 Number 14 Variety 1 (6,8,12) - 30 st Variety 2 (2,4,10) - 30 st MORNING STAR STICKS GONESH® EXTRA RICH Amber Apple Cider Jasmine Lavender Sandalwood Christmas Dream (Winter) Nutcracker Dance (Winter) Snowy Sensations (Winter) Holiday Memories (Winter) SCENTED REEDS & OILS REEDS OILS Black Cherry Cedarwood Cherry Blossom Cinnamon Coconut Dragon’s Blood...
Words: 477 - Pages: 2
...Mr. Weidenboerner Period 7 Purpose: To explore sensors and use them to knock down a box filled with bean bags without going over the edge of a precipice. Hypothesis: I think that designs with a high point of impact and and sensor placed out in front of the robot will have the best results. Group 2 | Trial | Distance from the Egde | 1 | 28 mm | 2 | 32 mm | 3 | 35 mm | 4 | 22 mm | 5 | fail | Average | 32 mm | Competion | Group | Average | 1 | 23 mm | 2 | 32 mm | 3 | fail | 4 | 7 mm | Program Flow: 1. #Include “Main.h” 2. 3. void main (void) 4. { 5. int limitswitch; 6. 7. // 0 is pressed 8. // 1 is not pressed 9. Wait (5000) 10. while (1==1) 11. { 12. limitswitch = Get DigitalInput (1); 13. if (limitswitch==1) 14. { 15. Set Motor (1.0); 16. Set Motor (10.0); 17. Wait (200) 18. } 19. else 20. } 21. Set Motor (1.-40); 22. Set Motor (10.40); 23. } 24. } 25. } Results: Group 1 cam in second place with an average of 23 mm from 5 trials. Group 2 (my group), came in third place with an average of 32 mm from the edge of the table. Group 3 came in last place with one fail and not having completed the rest of the trials yet. Group 4 came in first place with an average of 7 mm from the edge of the table. Conclusion: I think that...
Words: 371 - Pages: 2
...@; do rep=1 to 3; do s1=1 to 3; do s2=1 to 2; input y @@; output; end;end;end; datalines; 1 1 12 13 14 15 23 22 15 16 17 18 24 15 26 25 18 19 20 21 1 2 23 10 23 20 15 33 26 13 26 23 16 12 18 36 29 16 29 26 1 3 21 15 34 23 16 19 24 18 37 26 17 17 19 22 27 21 40 29 2 1 13 18 23 14 18 21 16 21 26 17 19 20 21 24 19 24 29 20 2 2 16 16 13 25 19 21 19 19 16 28 20 18 22 24 22 22 19 31 2 3 17 24 15 17 19 21 20 27 18 20 20 26 22 24 23 30 21 23 ; proc print; run; /* lets consider A and B are random, and of course rep, samoplings ( s1 and s2 ) all are random */ proc glm; class a b rep s1 s2; model y=a b a*b rep(a*b) s1(rep*a*b); random a b a*b rep(a*b) s1(rep*a*b); run; proc varcomp method=type1; class a b rep s1 s2; model y=a b a*b rep(a*b) s1(rep*a*b); run; output: The SAS System 10:46 Wednesday, November 16, 2011 21 Obs a b rep s1 s2 y 1 1 1 1 1 1 12 2 1 1 1 1 2 13 3 1 1 1 2 1 14 4 1 1 1 2 2 15 5 1 1 1 3 1 23 6 1 1 1 3 2 22 7 1 1 2 1 1 15 8 1 1 2 1 2 16 ...
Words: 1626 - Pages: 7
...To Write a Chemical Formula in OWL Enclose subscripts with underscores _. Enclose superscripts with carats ^. The underscore key is next to the number zero on the keyboard. The carat key is the number six on the keyboard. H_2_O = H2O Cr^3+^ = Cr3+ Combined: SO_4_^2−^ = SO42− Ions Unit Charge Ions Write the number first and then the charge. Do not include the number one in unit charge ions. N^3−^ = N3− Ca^2+^ = Ca2+ Na^+^ = Na+ Cl^−^ = Cl− Using the Chemical Formula Input The chemical formula input box displays the superscripts and subscripts as you enter the formula. There are 3 ways to use the input box. • Keyboard: Use the keyboard to enter underscores and carats on your own. • Buttons after: Enter the formula without underscores or carats, then highlight each superscript and/or subscript, click the appropriate subscript or superscript button, and the underscores or carats will be filled in automatically. • Button during: Use the subscript or superscript buttons to enter the underscores and carats while you type the formula. To Write a Chemical Formula in OWL Enclose subscripts with underscores _. Enclose superscripts with carats ^. The underscore key is next to the number zero on the keyboard. The carat key is the number six on the keyboard. H_2_O = H2O Cr^3+^ = Cr3+ Combined: SO_4_^2−^ = SO42− Ions Unit Charge Ions Write the number first and then the charge. Do not include the number one in unit charge ions. N^3−^ = N3− Ca^2+^ = Ca2+...
Words: 264 - Pages: 2
