ACC 490 Week 1 Generally Accepted Auditing Standards Paper
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Generally Accepted Auditing Standards Paper
Prepare a 700-1,050-word paper in which you explain the nature and functions of auditing. Relate your explanation to the audit functions in your organization, or an organization with which you are familiar. In your paper, be sure to address the following:
a. Describe the elements of the Generally Accepted Auditing
Standards (GAAS).
b. Describe how these standards apply to financial, operational, and compliance audits.
c. Explain the effect that the Sarbanes-Oxley Act of 2002, and the Public Company Accounting Oversight Board (PCAOB) will have on audits of publicly traded companies.
d. Discuss the additional requirements that are placed on auditors from this Act, and the actions of the PCAOB
Week 1 – DQ 1
Why is public accounting often viewed as a guarantor of results, or even as a provider of assurance that one’s investment is of high quality? To what extent is it reasonable to view the auditor as a guarantor? Explain. To what extent do you believe that user expectations of the public accounting profession appear to be unwarranted? Explain.
Week 1 – DQ 2
The Sarbanes-Oxley Act of 2002 has been described as the most far-reaching legislation affecting business since the
Week 1 – DQ 2
The Sarbanes-Oxley Act of 2002 has been described as the most far-reaching legislation affecting business since the passage of the 1933
ACC 490 Week 2 Individual Ch. 1 Textbook Exercise
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Resources: Ch. 1 of Modern Auditing: Assurance Services and the Integrity of Financial Reporting
Prepare written answers to the following assignment from Modern Auditing: Assurance Services and the Integrity of Financial Reporting:
Ch. 1: Comprehensive Question 1-23 – Organizations Associated with the Public Accounting Profession...