ACC 410

Audit Report Modifications 1. Audit Report Modifications Complete problem below. List a represents the types of opinions the auditor ordinarily would issue and List B represents the report modifications [if any] that would be necessary. Select as the best answer for each situation [items 1 to 6] the type of opinion and modifications, if any, the auditor would normally select. The types of opinions in List A and the report modifications in L

8 Other / Other Grand Canyon University / ACC 410 10 Dec 2015

ACC 410 WEEK 5 Final Paper The final paper will be based on Appendix 6C Illustrative Audit Case: Keystone Computers at pages 237-244 in your text. Write, in outline format but in complete sentences, a 6 to10 page audit plan. It is recommended that you look at Figure 18.8 on page 708, which shows the control objectives related to accounts receivable. In your audit plan cover the steps necessary to determine if you should select the client

11 Other / Other Grand Canyon University / ACC 410 10 Dec 2015

The auditors do not believe that certain lease obligations have been reflected in conformity with generally accepted accounting principles in the client’s financial statements. What type of opinion should the auditors issue if they decide that the exceptions are immaterial? Material? Very material? Remember to complete all parts of the problems. Do not forget to show the necessary steps and explain how you attained that outcome. Respond to

3 Other / Other Grand Canyon University / ACC 410 10 Dec 2015

Harris Fell, CPA and member of the AICPA, was engaged to audit the financial statements of Wilson Corporation. Fell had half-completed the audit when he had a dispute with the management of Wilson Corporation and was discharged. Hal Compton, CPA, was promptly engaged to replace Fell. Wilson Corporation did not compensate Fell for his work to date; therefore, Fell refused to allow Wilson Corporation’s management to examine his working paper

4 Other / Other Grand Canyon University / ACC 410 10 Dec 2015

Compare the rights of plaintiffs under common law with the rights of persons who purchase securities registered under the Securities Act of 1933 and sustain losses. In your answer, emphasize the issue of who must bear the burden of proof. Remember to complete all parts of the problems. Do not forget to show the necessary steps and explain how you attained that outcome. Respond to at least two of your classmates’ postings.

4 Other / Other Grand Canyon University / ACC 410 10 Dec 2015

Describe what is meant by a “walk-through.” Must walk-throughs be performed during audits of internal control over financial reporting? May the client perform a walk-through and the auditors then review the client’s work? Remember to complete all parts of the problems. Do not forget to show the necessary steps and explain how you attained that outcome. Respond to at least two of your classmates’ postings.

3 Other / Other Grand Canyon University / ACC 410 10 Dec 2015

“All experienced auditors would design exactly the same audit program for a particular audit engagement.” Do you agree? Explain. Remember to complete all parts of the problems. Do not forget to show the necessary steps and explain how you attained that outcome. Respond to at least two of your classmates’ postings.

3 Other / Other Grand Canyon University / ACC 410 10 Dec 2015

Complete Discuss what is meant by the phrase “shopping for accounting principles.” What mechanisms have served to prevent this practice by management? Remember to complete all parts of the problems. Do not forget to show the necessary steps and explain how you attained that outcome. Respond to at least two of your classmates’ postings

3 Other / Other Grand Canyon University / ACC 410 10 Dec 2015

Analytical Procedures In a 2-3 page paper, complete the case below and submit to instructor. Review the income statement for Uden Supply Company and answer the following: • Describe the purpose of analytical procedures performed in the planning stage of the audit. • Uden Supply has projected its 2004 gross profit at 31% of sales despite expectation for some shrinkage in margins. On the basis of Uden's operating performance in years

6 Other / Other Grand Canyon University / ACC 410 10 Dec 2015

Part 1: Cover Letter Cover letters are recommended, and in some instances required, for job applications. If you want to stand out from other candidates, you will want to write a unique cover letter for each position you apply to. Cover letters allow you to clarify, detail, and expand on your most relevant skills and competencies. In addition, a cover letter allows you to showcase your written communication skills. It is important that yo

3 Other / Other Grand Canyon University / ACC 410 10 Dec 2015