Session_Two_-_Auditing - Professor Roger Mayer, DBA, CPA,...

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Session Two - Auditing Session Two - Auditing Professor Roger Mayer, DBA, CPA, CIA 917-887-0448
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Toy Central - Assessing the possibility of fraud and illegal  Toy Central - Assessing the possibility of fraud and illegal  acts. acts. This case provides a number of opportunities for you to identify fraud risk  factors. Auditing standard (AU317) requires that you assess the possibility of  illegal acts. In your testing you identified a $10,000 payment to the Internal  Workers Transport Union.  Also, two weeks after the Board improved the bonus pool, management  removed inventory valuation allowance. This was done despite evidence  suggesting that there is excess inventory.  Your assignment is to write a four page paper in APA style that address the  following issues: - How do you as an auditor address the requirements of AU 317? - Should the payment to the transport union be considered a possible illegal  act? - Should you consider the removal of the valuation allowance an attempt of  management to "manage earnings?" The value of this assignment is 40 points. The due date is five days after chat  session two.
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Sample CPA Question Sample CPA Question A CPA is most likely to refer to one or more of the three general auditing  standards in determining A)   The nature of the CPA's report qualification. B)   Whether the CPA should undertake an audit engagement. C)   The scope of the CPA's auditing procedures. D)   Requirements for the review of internal control. CPA firm's personnel partner periodically studies the CPA firm's personnel  advancement experience to ascertain whether individuals meeting stated  criteria are assigned increased degrees of responsibility. This is evidence of  the CPA firm's adherence to prescribed standards of A)   Quality control.
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Session_Two_-_Auditing - Professor Roger Mayer, DBA, CPA,...

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