Audit - ACG 5637 Auditing I Cable Co Video Questions(30...

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ACG 5637 Auditing I Cable Co. Video Questions (30 point) Fall 2011 This is a supergroup project which involves two groups working together typically consisting of 10 students: Supergroup 1 <= Groups 1 and 2; Supergroup 2 <= Groups 3 and 4; etc. This assignment must be submitted on time to avoid a 5% late penalty. In any case, these assignments must be submitted by the following examination date to receive any credit. Evaluations will be based primarily on content and professionalism. Develop as many points as possible for each question. There is no page limit. The assignment must be emailed to the grader [email protected] , by midnight Tuesday September 6th. Submit a hardcopy at the beginning of class on Wednesday September 7th. Cable Co. Video 1. What are the professional, ethical, and business considerations in accepting a new client? Consider how the audit firm considers the client and itself. Your answer should include a discussion of client business risk, auditor business risk and audit risk. 2. In general, how does a public accountant obtain clients (refer to class notes on client acceptance)? 3. Indicate why Cable Co. needs to engage a public accounting firm to perform a certified financial
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Audit - ACG 5637 Auditing I Cable Co Video Questions(30...

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