{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Intro Guide Notes.docx

Intro Guide Notes.docx - Intro Guide Notes PCOB Public(I...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Intro Guide Notes PCOB – Public (I think) AICPA – Private (I think) Whether to audit an account: o Because of materiality o Because of risk You audit an account for: o Fraud o Mistakes (accidental) You audit not only accounts but also internal control involving those accounts o i.e. segregation of duty; accessibility to information; level of authority Auditors only check accounts and give their opinion to management to change errors. Managers must make the decision to change The audit committee hires the auditor, not management, and the auditor reports to the audit committee CPA firms have many quality controls to maintain a good reputation and do a good job The first stage of the audit was acceptance, not planning The Auditor Plan consists of: o Plan the materiality o Consult experts about the industry about the risks o The engagement letter What the auditor will do and be clear with the client on what the auditor will do
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern