Unit 1 Homework 1.20 & 1.27 - Running head UNIT 1 HOMEWORK 1-20 2-27 Unit 1 Homework 1-20 2-27 Tiffaney Brown AC503 Advanced Auditing UNIT 1

Unit 1 Homework 1.20 & 1.27 - Running head UNIT 1...

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Running head: UNIT 1 HOMEWORK 1-20 & 2-27 Unit 1 Homework 1-20 & 2-27 Tiffaney Brown AC503: Advanced Auditing 8/30/16
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UNIT 1 HOMEWORK 1-20 & 2-27 1 Problem 1-20 (Types of auditors and audits) After performing an audit, the auditor determines that. 1. The financial statements of a corporation are presented fairly. Type of Audit Type of Auditors Primary Recipient Financial Statement Independent Stockholders, Investors, public & regulatory agencies 2. A company’s receiving department is inefficient. Type of Audit Type of Auditors Primary Recipient Operational Internal; Independent Senior Management 3. A company’s tax return does not conform with IRS regulations. Type of Audit Type of Auditors Primary Recipient Compliance Government – IRS IRS 4. A government supply depot is not meeting planned program objectives. Type of Audit Type of Auditors Primary Recipient Operational Government – GAO Congress 5. The financial statements of a physician are properly prepared on a cash basis. Type of Audit Type of Auditors Primary Recipient Financial Statement Independent Creditors 6. A foreman is not carrying out his assigned responsibilities.
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