auditing standard, “Consideration of Fraud in a Financial Statement Audit”, that discusses types of fraud possible in financial statements and analytical procedures relevant to finding and correcting fraudulent statements. It establishes standards and provides guidance to auditors to help them plan and perform their audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether caused by error or fraud. As the auditor, it is our responsibility
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auditing standard, “Consideration of Fraud in a Financial Statement Audit”, that discusses types of fraud possible in financial statements and analytical procedures relevant to finding and correcting fraudulent statements. It establishes standards and provides guidance to auditors to help them plan and perform their audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether caused by error or fraud. As the auditor, it is our responsibility
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| Apollo Shoes Inc. | Memo To: Darlene Wardlaw From: AOW CC: Date: [ 3/2/2011 ] Re: Fraud This memo is addressing the possibilities of fraud for the Apollo Shoes company. After careful review of the minutes and analytic procedures, there are a few little things that may be considered “red flags” for Apollo. A huge issue that may be a red flag is the fact that Apollo Shoes does not want us to speak with their old auditors, Smith & Smith, CPAs, about their previous engagements. This
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Substantive Procedures for Asset Irregularities University of Phoenix ACC/556 Substantive Procedures for Asset Irregularities In light of the substantive hurdles created by management at Apollo Shoes, Inc. (the “Company”), as the Auditors of the Company, it is incumbent upon us to develop and audit program to manage and perform the most thorough analyses of the books and records so that we can do a thorough job and offer an opinion on the quality of the financial well-being of the Company
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+ - ACC 556 – Forensic Accounting Week Four Team C Reflections Week five material focused on the impact accounting principles have on detecting fraud as well as the financial statement fraud schemes that have been committed in recent years. Helen found course materials and discussion on financial statement fraud gave me a pause. I was aware of the fact that it is possible to manipulate financial results and make operations appear successful to lenders and investors, while quite the opposite may
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Sferra ACC/546 November 23, 2015 Allen Foster Mrs. Susan Right Senior Partner Anderson, Olds, and Watershed 1 Shoe Street New York, NY. 90001 Dear Mrs. Right, Mr. Lancaster, President of Apollo Shoes, has expressed his satisfaction with the services that our firm offers and would like to continue with a full audit. Because our client does not want our firm to talk to the predecessor auditor, I recommend accepting a prospective engagement
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Apollo Checklist | | | | | | | | | Section | | Page | To Do – Yes/No | WP Reference | Blackboard Template Available – Yes/No | Description of To Do | | Other Notes | Planning | | 6 | Yes | GA-1 | No | 2. Draft Engagement Letter using the sample letter from the previous auditors in Blackboard. You will need to type this in word from scratch. You will need to make appropriate changes as needed and as discussed in class. | | | Planning | | 6 | Yes | GA-2 | No | 3.Draft short staffing
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|[pic] |Course Syllabus | | |XACC/291 | | |Principles of Accounting II | |
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|[pic] |Course Syllabus | | |School of Business | | |XACC/291 Version 1 | |
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CHAPTER 4 Engagement Planning LEARNING OBJECTIVES | Review Checkpoints | Exercises, Problems and Simulations | 1. List and describe the activities auditors undertake before beginning an engagement. | 1, 2, 3, 4 | 53, 54, 55, 62, 66 | 2. Identify the procedures and sources of information auditors can use to obtain knowledge of a client’s business and industry. | 5, 6, 7, 8, 9 | 52, 56, 59, 65 | 3. Perform analytical procedures to
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