1. List five tests of controls that can be performed for the payroll and personnel cycle and state the purpose of each control tested. 2. Explain the circumstances under which an auditor should perform audit tests primarily designed to uncover fraud in the payroll and personnel cycle.
1. What are the three conditions of fraud often referred to as “the fraud triangle”? 2. What sources are used by the auditor to gather information to assess fraud risk?
IDENTIFICATION OF SIGNIFICANT RISKS 1. At what two levels does the auditor assess the risk of material misstatement? 2. Describe the types of procedures that constitute risk assessment procedures.
The following questions concern unmodified opinion audit reports. Choose the best response. a. Which of the following is not a required element of a standard unmodified opinion audit report issued in accordance with AICPA auditing standards? (1) A title that emphasizes the report is from an independent auditor (2) The city and state of the […]
Wirecard AG – A former analyst favorite in Germany, Wirecard, AG recently revealed a potential $2.2 billion fraud. Explain the specific accounting behind the fraud. Example – What and how did Wirecard do to commit fraud, etc.. also address the role of the auditor in this situation. You also can use bullets points, summaries and […]
What is the relationship between auditor’s quality work and earnings management? How does the management of earnings impact stakeholder’s wealth? What are the negative effects of managing earnings on the performance of a company?
Read The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern from AICPA. Based on the reading, analyze the auditor’s responsibility to determine whether a company can continue as a going concern. From your analysis, propose at least two key factors auditors need to consider when determining an entity’s ability to continue […]
Bank confirmations are critical to the cash audit. What information does the auditor obtain by sending bank confirmations? Explain the different types of bank confirmations and what assertions each type addresses. How do you determine which is the best bank confirmation type to use? Only need a couple paragraphs for discussion
