ACCT 422 Homework 1
1) List and discuss the assurance service that CPAs provide.
2) Distinguish between auditing and accounting.
3) Discuss and explain the components of audit.
4) List and discuss the other types of auditor.
5) Distinguish among (1)...
ACCT 422 Homework 2
1) Discuss the relationship between professional responsibility and legal liability.
2) Discuss the auditor’s responsibility for detecting error, fraud, and illegal acts.
3) Distinguish between fraudulent financial reporting...
ACCT 422 Homework 3
1) List the factors that may reduce or eliminate the effectiveness of controls.
2) Discuss the five components of internal control.
3) Discuss the factors that contribute to an entity's control environment.
4) Discuss the four...
ACCT 422 Homework 4
1. What is the auditor’s responsibility for obtaining an understanding of and reporting on internal controls for publicly held companies? For privately held companies? How are the responsibilities similar and how do...
ACCT 422 Homework 5
For the revenue cycle, there are three classes of transactions.
For each class of transaction, (1) identify each of the respective activities (2) discuss the relevant internal control and audit objective that would be...