Acct auditing Assignment Question(s): (Marks 15) IMPORTANT NOTES: Answer in your OWN words, DO NOT COPY from slides, fellow students, or internet sources without proper citation. Q1. What is the difference between audit, attestation, and assurance services? And how do the answers provide value to stakeholders? Your answer should have a minimum of 400 words. […]
Carl Monson, the owner of Major Products Manufacturing Company, a small, successful, long-time audit client of your firm, has requested you to work with his company in preparing three-year forecasted information for the year ending December 31, 2020, and two subsequent years. Monson informs you that he intends to use the forecasts, Required Research Required […]
There are many types of information that require assurance. Individually or in groups, identify the following types of assurance services. a. Identify three or more assurance services that are likely to be provided only by public accounting firms. b. Identify three or more assurance services that are likely to be provided by assurance providers other […]
The following questions deal with audits by CPA firms. Choose the best response. a. Which of the following best describes why an independent auditor is asked to express an opinion on the fair presentation of financial statements? (1) The opinion of an independent party is needed because a company may not be objective with respect […]
Describe auditing. 1-2 Distinguish between auditing and accounting. 1-3 Explain the importance of auditing in reducing information risk. 1-4 List the causes of information risk, and explain how this risk can be reduced. 1-5 Describe assurance services and distinguish audit services from other assurance and nonassurance services provided by CPAs. 1-6 Differentiate the three main […]
There are many types of information that require assurance. Individually or in groups, identify the following types of assurance services. a. Identify three or more assurance services that are likely to be provided only by public accounting firms. b. Identify three or more assurance services that are likely to be provided by assurance providers other […]
