1. Why are liability accounts included in the capital acquisition and repayment cycle audited differently from accounts payable? 2. Which internal controls should the auditor be most concerned about in the audit of notes payable? Explain the importance of each.
ACCOUNTS IN THE CYCLE Identify the accounts and the unique characteristics of the capital acquisition andrepayment cycle.
Clouds and Apology PART A- REACTION QUESTIONS The satirical play, Clouds, suggests that while the scientific revolution inaugurated by the Presocratic thinkers in the sixth century is an advance over the mythological thought of Homer, it also has created an ethical crisis that will be exploited by the school of thinkers known as the Sophists. […]
Film Critique For this assignment students will watch, analyze, and critique a movie or documentary that relates to urban education. If you would like to watch a movie not on the list, please let me know before you watch it. The guiding question for your analysis is: How do the representations in the movie reflect, […]
The Institute of Internal Auditors (IIA) is an international professional association of more than 185,000 members, with global headquarters in a suburb of Orlando, Florida. The IIA is recognized globally as the internal audit profession’s leader in certification, education, research, and technical guidance. Visit the IIA website (www.theiia.org) to answer questions about the IIA and […]
The following questions deal with internal auditing. Choose the best response. a. The independence of the internal audit department will most likely be assured if it reports to the (1) audit committee of the board. (2) president. (3) controller. (4) vice president of finance. b. In assessing the competence of internal auditors, an independent CPA […]
The following questions concern attestation engagements. Choose the best response. a. A Type 1 service auditor’s report on internal controls at a service organization (1) includes an opinion about the suitability of the design of controls at the service organization. (2) is based on the performance of tests of controls and substantive tests of transac- […]
1. Define what is meant by attestation standards. Distinguish between attestation standards and auditing standards.2. Distinguish the three types of service organization reports.
AGREED-UPON PROCEDURES ENGAGEMENTS: Define agreed-uponprocedures engagements.
ATTESTATION ENGAGEMENTS Distinguish AICPA attestation standards from auditing standards and know the typesof engagements to which they apply.
