Wgu d215 stuvia - Study guides, Class notes & Summaries

Which type of threat to ethical decision-making is demonstrated by this practice? Self-review Self-interest Adverse interest Undue influence - ANSWER Undue influence 8. A CPA has prepared a couple's joint tax returns for 10 years, but the couple is now experiencing a complicated divorce where both parties wish to claim the same child as a dependent. The CPA agrees to work with both clients on their tax returns. Which standard of the AICPA Code of Professional Conduct is being vi...

What is the objective of a financial statement audit? - ANSWER Provide financial statement users with an opinion by the auditor on whether the financial statements are presented fairly in accordance with an applicable financial reporting framework Who are intended users of assurance services? - ANSWER Decision makers ie Investors Creditors Regulators What does "independent" mean in the context of assurance services? - ANSWER The person performing the service is not involved with the ...

substantive procedures - ANSWER The term substantive comes from substantiate, which means auditors gather evidence to support the transactions, account balances, and disclosures provided by management in the financial statements. Substantive procedures are also When analytical procedures are used to obtain audit evidence during the risk response phase. Assertions About Classes of Transactions and Events - ANSWER Typically income statement accounts and cash flow statement: Occurrence/Cutoff, C...