What is the role of the external auditor in the financial reporting process?

Chapter 5 – Review Questions 5-1, 5-3, 5-4, 5-5 Chapter 7 – Review Questions 7-1, 7-2, 7-4 Chapter 8 – Review Questions 8-2, 8-4, 8-5 file:///C:/Users/yomer/Downloads/Mary-Jo%20Kranacher-%20Richard%20Riley-%20Joseph%20T%20Wells%20-%20Forensic%20Accounting%20and%20Fraud%20Examination-Wiley%20(2019)%20(3).pdf REVIEW QUESTION 1. Generally, how is the problem of management override and collusion addressed? 2. What is the role of the external auditor in the financial reporting process? 3. […]

Discuss how disclosures of a code of ethics by senior management could have a positive effect on public confidence and influence investors’ behavior.

Audit, Internal Controls, & Code of Ethics Designing effective internal controls is the responsibility of management in almost every company. In some cases, there are deficiencies in the internal control environment of a company. Consider how discrepancies between the design and the implementation of internal controls may occur within any given company. Compare the designs […]

Discuss, giving examples, matters other than independence which might be relevant in relation to the credibility of the auditor and steps that the accounting profession has taken or might take in relation to them.

It is an indisputable fact that ‘Independence’ is the most important matter affecting the credibility of auditors. Discuss, giving examples, matters other than independence which might be relevant in relation to the credibility of the auditor and steps that the accounting profession has taken or might take in relation to them. (This is the brief) […]

Discuss the impact on the financial statements and of the audit of each issue, including an assessment of whether it is material.

You are the audit manager of David & Goliath (DG) and you are currently reviewing the audit files for several of your clients for which the audit fieldwork is complete. The audit seniors have raised the following issues: Summit Ltd (Summit) Summit is a large provider of marketing services to the tourist industry. Summit’s year […]

Who is responsible for the preparation and integrity of the financial statements?What is the name of the independent public accountant (auditor)?

Locate the management report(s) and the independent auditor’s report(s).Answer the following questions​. Page(s)a) Who is responsible for the preparation and integrity of the financial statements?b) What is the name of the independent public accountant (auditor)?(Note: There are two independent auditor’s reports: (1) a report on internal control, and(2) a report on the financial statements. The […]

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?

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

What would be three essential items that you would want to discover about that company before engaging to conduct an audit for a new client? Why are these the most important? How would you explain the need of this information to your potential client? Address this situation as if you are the audit partner in charge of evaluating new clients.

The acceptance of a new client is essential to a CPAs pre-engagement planning process. The auditor will review the company’s financial performance from the previous year, interview previous team to uncover any issues working with the client, review the company’s public information throughout the year, and contemplate other factors to calculate the relative risk to […]