Chapter 1 - Recap _ Case Prep

N is it appropriate for your audience n did you do a

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n Is it appropriate for your audience? n Did you do a print preview? Spell check? n Did you complete all objectives and requirements? n What would your… n Mom say about it? n Boss say about it? n Professor say about it? n Competition say about it?
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+ Case 1 Overview n Good Writing Overview and Sample Writing Piece Are in Scholar n Read Case 1 Instructions n Read Case 1 (answer question in instructions, not questions in case although there is some similarity) n Case 1 is Completed Individually Before Class n Bring 3 Copies to Class on Tuesday, February 5 n DO NOT PUT ANY IDENTIFICATION ON CASE; USE COVER PAGE n Be Prepared to Discuss in Class
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+ Chapter 1 Review, Question 1- 17 n Busch Corporation n Existing Loan of $4.5M, 5.5% Interest – No Assurance n United Nat’l Bank Loan of $4.5M, 4.5% Interest – Review ($20K) n First City Bank Loan of $4.5M, 3.5% Interest – Audit ($45K) n Why does level of assurance impact interest rate? n What are the total costs of the loan + assurance services? n Why may Busch desire to have an audit, ignoring the potential reduction in internal costs? n How does an understanding of a client’s business increase the value of the audit service?
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+ Chapter 1 Review, Question 1- 19 n What constitutes… n Information (what are we gathering info about?) n Established Criteria (using what criteria?) n Accumulating and Evaluating Evidence (what evidence?) n Competent, Independent Person (is Samantha?) n Reporting Results (what will the report include?) n What are the greatest difficulties Samantha Altman is likely to have doing the audit?
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