ZuoTi.Pro
Question

This problem requires you to access PCAOB Auditing Standards (pcaobus.org) to answer each of the following...

This problem requires you to access PCAOB Auditing Standards (pcaobus.org) to answer each of the following questions. You can access those standards by viewing content found under the link “Standards.” For each answer, document the paragraph(s) in the relevant standard supporting your answer. Review PCAOB auditing standards related to the auditor’s consideration of fraud in a financial statement audit, to answer questions in parts a. through d. Review PCAOB Auditing Standard No. 12, Identifying and Assessing Risks of Material Misstatement, to answer parts e. and f.

Required

c.What examples of auditor responses to fraud risk related to revenue recognition are provided in PCAOB auditing standards?

business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

0 0
Add a comment
Know the answer?
Add Answer to:
This problem requires you to access PCAOB Auditing Standards (pcaobus.org) to answer each of the following...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • This problem requires you to access PCAOB Auditing Standards (pcaobus.org) to answer each of the following...

    This problem requires you to access PCAOB Auditing Standards (pcaobus.org) to answer each of the following questions. You can access those standards by viewing content found under the link “Standards.” For each answer, document the paragraph(s) in the relevant standard supporting your answer. Review PCAOB auditing standards related to the auditor’s consideration of fraud in a financial statement audit, to answer questions in parts a. through d. Review PCAOB Auditing Standard No. 12, Identifying and Assessing Risks of Material Misstatement,...

  • 1.Which of the following is not one of the steps the auditor must perform to assess...

    1.Which of the following is not one of the steps the auditor must perform to assess control risk at less than “high” for a financial statement assertion? A) obtain an understanding of internal control B) identify controls that address all relevant assertions in the financial statements C) make a preliminary assessment of control risk based on the design of relevant controls D) test the operating effectiveness of the controls that must be effective to reduce control risk 2.Which of the...

  • Can you answer these questions? Thank you 13. cd so Generally Accepted Auditing Standards (GAAS) and...

    Can you answer these questions? Thank you 13. cd so Generally Accepted Auditing Standards (GAAS) and Statements on Auditing Standards (SAS) should be looked upon by practitioners as: a. ideals to work towards, but which are not achievable. maximum standards that denote excellent work. c. minimum standards of performance that must be achieved on each audit engagement. benchmarks to be used on all audits, reviews, and compilations. 14. The auditor's judgment concerning the overall fairness of presentation of financial position,...

  • Can you answer these questions? Thank you 7. An audit of historical financial statements most commonly...

    Can you answer these questions? Thank you 7. An audit of historical financial statements most commonly includes the: a. balance sheet, the income statement, and the statement of cash flows. b. income statement, the statement of cash flows, and the statement of net working capital. c. statement of cash flows, the balance sheet, and the retained earnings statement. all of the above The generally accepted auditing standard that requires “Adequate technical training and proficiency” is normally interpreted as requiring the...

  • 1. Consider the following statements:         I. Per auditing standards, the successor [new] audit firm is...

    1. Consider the following statements:         I. Per auditing standards, the successor [new] audit firm is required to initiate communication             with the predecessor [old] audit firm.        II. The predecessor auditor might communicate, to the successor auditor, information related to             client management’s integrity.       a. I is true;   II is true       b. I is true;   II is false       c. I is false; II is true       d. I is false; II is false 2. “A letter...

  • .B) Multiple choices: 60 points: for each statement circle the best answer The three requirements for...

    .B) Multiple choices: 60 points: for each statement circle the best answer The three requirements for becoming a CPA include all but which of the following (1 A) Uniform CPA examination requirement B) Educational requirements C) Character requirements D) Experience requirement (The International Standards on Auditing (ISAS (2 A) are issued by the AICPA B) override a country's regulations govering the audit of a company (C) has many of the same standards as the Auditing Standards Board (ASB D) must...

  • Answer the Following Questions in detail 1. Differentiate between “Auditing” and “Accounting” . 2. What are...

    Answer the Following Questions in detail 1. Differentiate between “Auditing” and “Accounting” . 2. What are different Types of Risks? Explain the importance of auditing in reducing information risk, the causes of information risk, and explain how this risk can be reduced. 3. What do you understand by Quality Control Standards & Practices within the Accounting Profession? 4. What do you understand by the term “Audit Report”? 5. What the 4 Categories of Audit Report? Briefly Explain 6. What is...

  • need # 6,7,9 need correct answer with explanations 6. Auditing standards for public companies are established...

    need # 6,7,9 need correct answer with explanations 6. Auditing standards for public companies are established by the (A) SEC. B) FASB. C) PCAOB D) IRS. 7. When CPAs are able to maintain their actual independence, it is referred to as independence in (A) conduct. B) appearance. C) fact D) total. 2/5 8. If an auditor fails to fulfill a certain requirement in the contract, they may be guilty A) contract fraud. B) breach of contract. C) constructive fraud. D)...

  • 1A qualified opinion that is issued because of a departure from generally accepted accounting principles should...

    1A qualified opinion that is issued because of a departure from generally accepted accounting principles should contain a separate paragraph explaining the departure and its effects. True False 2 The introductory paragraph of the auditors’ report clarifies management’s responsibility for the financial statements. True False 3The phrase “generally accepted auditing standards” appears in the scope paragraph of the auditors’ standard report. True False 4An auditors’ report is in essence a guarantee by the auditors that the financial statements are correct....

  • Can you answer these questions? Thank you 47. a. ooo In the auditing environment, failure to...

    Can you answer these questions? Thank you 47. a. ooo In the auditing environment, failure to meet auditing standards is often: an accepted practice. b. a suggestion of negligence. conclusive evidence of negligence. d. tantamount to criminal behavior. 48. Which of the following most accurately describes constructive fraud? a. Absence of reasonable care. b. Lack of slight care. c. Knowledge and intent to deceive. d. Extreme or unusual negligence without the intent to deceive. 49. “Privileged communication” between client and...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT