100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
Previously searched by you
Test Bank for -Principles of Auditing and Other Assurance Services 22nd Edition by Ray Whittington, Kurt Pany,newest version 2024|25 A+$19.49
Add to cart
Test Bank for -Principles of Auditing and Other Assurance Services 22nd Edition by Ray Whittington, Kurt Pany,newest version 2024|25 A+
6 views 0 purchase
Course
Principles of Auditing
Institution
Principles Of Auditing
Test Bank for -Principles of Auditing and Other Assurance Services 22nd Edition by Ray Whittington, Kurt Pany,newest version 2024|25 A+Test Bank for -Principles of Auditing and Other Assurance Services 22nd Edition by Ray Whittington, Kurt Pany,newest version 2024|25 A+Test Bank for -Principles of ...
,2) The2Sarbanes-
Oxley2Act2of220022made2significant2reforms2for2public2companies2and2their2auditors.
a. Describe2the2events2that2led2up2to2the2passage2of2the2Act.
b. Describe2the2major2changes2made2by2the2Act.
3) Many2people2confuse2the2responsibilities2of2the2independent2auditors2and2the2client's2
management2 with2respect2to2 audited2financial2statements.
a. Describe2management's2responsibility2regarding2audited2financial2statements.
b. Describe2the2independent2auditors'2responsibility2regarding2audited2financial2statements.
c. Evaluate2the2following2statement:2"If2the2auditors2disagree2with2management2regarding2an2
accounting2principle2used2in2the2financial2statements,2the2auditors2should2express2their2views2in2
the2notes2to2the2financial2statements."
4) An2investor2is2considering2investing2in2one2of2two2companies.2The2companies2have2very2
similar2reported2financial2position2and2results2of2operations.2However,2only2one2of2the2companies2
has2its2financial2statements2audited.
a. Describe2what2creates2the2demand2for2an2audit2in2this2situation.2Include2a2discussion2of2how2
audited2financial2statements2facilitate2this2investment2transaction,2and2the2effect2of2the2audit2on2
business2risk2and2 information2risk.
b. Identify2the2potential2consequences2to2the2company2of2not2having2its2financial2statements2
audited.
A) Auditing2Standards2Board.
B) Financial2Accounting2Standards2Board.
C) Government2Accounting2Standards2Boards.
D) Securities2and2Exchange2Commission.
A) Auditing2Statements2of2Position2(ASPs).
B) Accounting2Series2Releases2(ASRs).
C) Statements2on2Auditing2Standards2(SASs).
D) Statements2on2Auditing2Principles2(SAPs).
12) Government2Accountability2Office2(GAO):
A) is2primarily2concerned2with2rapid2processing2of2all2accounts2payable2incurred2by2the2
federal2government.
B) responsibilities2include2audits2of2government2agencies.
C) is2an2organization2of2professional2accountants2whose2primary2interest2 is2in2the2
effectiveness2of2presidential2expenditures.
D) is2primarily2concerned2with2budgets2and2forecasts2approved2by2the2PCAOB.
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller AGRADEPROMASTER. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $19.49. You're not tied to anything after your purchase.
