Neil Gonzales, ACCT 470-V2WW, Assignment 1-6 Final

Neil Gonzales, ACCT 470-V2WW, Assignment 1-6 Final - Neil...

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Neil Gonzales Assignment 1-6 Audit Phases 20 points Due: May 8 Purpose To assess your ability to analyze the phases of the audit. L 3 Traits Action Items 1. Perform the requirements detailed in Chapter 1, Problem 1-27 in Auditing and Assurance Services . Chapter 1: Problem 1-27. P. 29 John Josephs, an audit manager for Tip, Acanoe & Tylerto, and was asked to speak at a dinner meeting of the local Small Business Administration Association. The president of the association suggested that he talk about various phases of the audit process. John has asked you, his trusted assistant, to prepare an outline for his speech. He suggests that you answer the following: a. List and describe the various phases of an audit. Various phases of an audit: First, “client acceptance/continuance and establishing an understanding with the client” (Messier, Glover, & Prawitt, 2010, p. 19) was a major phase of an audit. According to Messier, Glover, & Prawitt (2010), accounting firms create rules and regulations choosing whether to take in new clients and to keep current clients. Additionally, conditions related to parties’ responsibilities, types of assistance, timing, and expected costs, noted Messier et al. (2010).
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Neil Gonzales, ACCT 470-V2WW, Assignment 1-6 Final - Neil...

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