Module A - Module A Other Public Accounting Services Theres...

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Module A Other Public Accounting Services “There’s no business like show business, but there are several businesses like accounting.” – David Letterman
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Module Objectives 1. Explain and provide examples of assurance services engagements. 2. Explain and provide examples of attestation engagements. 3. Write appropriate reports for review and compilation of unaudited financial statements, given specific factual circumstances. 4. Explain auditors’ responsibilities related to reporting on interim financial information. 5. Define, explain, and give examples of other comprehensive bases of accounting (OCBOA), distinguishing them from generally accepted accounting principles (GAAP). MODA-2
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The Relationships Among Auditing, Attestation, and Assurance Services Assurance Services Any Information Attestation Services Primarily Financial Information Auditing Financial Statements MODA-3
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Assurance Services Assurance Services Assurance Services are independent professional services that improve the quality of information, or its context, for decision makers. What factors are driving the demand for Assurance Services? Information technology Competition Globalization Education Corporate structure changes Aging of U.S. population MODA-4
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CPA Trust Services WebTrust – Reduces concerns of Internet users the company exists reliability of information regarding key business practices SysTrust Review of a client’s computer system to provide assurance concerning Security over information Privacy of information Confidentiality of information System availability MODA-5
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CPA Trust Services Principles Security. Website must disclose and adhere to specific security practices Availability. Website must disclose hours of operation and establish effective controls to provide reasonable assurance that it is available. Processing Integrity. Completeness Accuracy Timeliness Authorization of system processing Privacy . Website must disclose and adhere to its privacy practices. Confidentiality . Information is safeguarded from unauthorized users. ( http://www.cpawebtrust.org ) MODA-6
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PrimePlus Services PrimePlus Services help seniors and their families make difficult decisions concerning Health care Living situations, and Financial needs. PrimePlus services include Providing for senior family members medical and living needs Estate planning Financial planning Tax preparation Cash flow management Formally known as ElderCare MODA-7
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Performance View Performance measurement - identification of critical success factors that measure and track an entity’s progress toward targets, goals, or objectives. Performance View
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This note was uploaded on 02/05/2011 for the course ACCT 461 taught by Professor Staff during the Spring '08 term at George Mason.

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Module A - Module A Other Public Accounting Services Theres...

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