Auditing and Assurance ServicesThis text provides up-to-date information on all issues inherent in accounting and auditing practice, particularly in public accounting firms including coverage of the creation of the Public Companies Accounting Oversight Board, the passage of the Sarbanes-Oxley Act and more. |
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Page 11
... ment of Financial Accounting Concepts ( SFAC ) No. 2 , Qualitative Characteristics of Accounting Information , defines understandability as " the quality of information that enables users to perceive its significance . " The ...
... ment of Financial Accounting Concepts ( SFAC ) No. 2 , Qualitative Characteristics of Accounting Information , defines understandability as " the quality of information that enables users to perceive its significance . " The ...
Page 205
... ment numbers and ratios across several years . Vertical analysis refers to financial state- ment amounts expressed each year as proportions of a base , such as sales for the income statement accounts and total assets for the balance ...
... ment numbers and ratios across several years . Vertical analysis refers to financial state- ment amounts expressed each year as proportions of a base , such as sales for the income statement accounts and total assets for the balance ...
Page 526
... ment . CPAs are considered not independent when ( a ) Company management threatens or actually starts a lawsuit against the CPA al- leging deficiencies in audit or other attestation work ; or ( b ) A covered member threatens or starts ...
... ment . CPAs are considered not independent when ( a ) Company management threatens or actually starts a lawsuit against the CPA al- leging deficiencies in audit or other attestation work ; or ( b ) A covered member threatens or starts ...
Contents
User Demand for Reliable Information 2 Management versus Auditor Responsibility for Internal | 19 |
Performing the Financial Audit | 29 |
Attestation and Assurance Standards | 45 |
Copyright | |
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Common terms and phrases
accepted accounting principles accepted auditing standards account balance accounts receivable AICPA adapted amount analytical procedures application assessing control risk assets assurance services attribute sampling audit documentation audit evidence audit procedures audit program audit report audit risk AUDITING INSIGHT balance sheet bank cash receipts Certified Fraud Examiners checks company's confirmation control procedures cost customers cycle December 31 detection risk determine disclosure employees estimate evaluation example Exhibit expense Fraud Examiners GAAP identify incorrect acceptance independent internal auditors internal control inventory investment LEARNING OBJECTIVE liability loan material misstatement obtain operations opinion payroll percent perform personnel planning population PPS sampling processing production professional purchase recorded responsibility revenue Review Checkpoints risk of assessing risk of incorrect risk too low sales invoices sampling risk Sarbanes-Oxley Act securities selection substantive procedures tests of controls tolerable deviation rate valuation variables sampling year-end