Chapter 1 - Demand for Audit

Internal vs external audit tradeoff tradeoff internal

Info icon This preview shows pages 13–15. Sign up to view the full content.

View Full Document Right Arrow Icon
+ Internal vs. External Audit Tradeoff Tradeoff: Internal  much more internal knowledge of the company and less independence (do maintain some because they report to the CFO and the higher up). The main reason is they are an employee. External  Possess less knowledge (outsiders). Possess more independence since they are separate of the company
Image of page 13

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
+ Types of Certifications n Certified Public Accountant (CPA) n Certified Internal Auditor (CIA) n Certified Information Systems Auditor (CISA) n Certified Fraud Examiner (CFE) n Other non-audit related: Certified management accountant (CMA); Chartered Financial Analyst (CFA) n ALL REQUIRE A UNIFORM EXAM
Image of page 14
+ CPA Requirements for Virginia n http://www.boa.virginia.gov/ n 120 hours and bachelors degree (or higher), accounting concentration or equivalent to sit for the exam and 150 hours to obtain license. n 120 semester hours that must include: n At least 24 semester hours of accounting including courses covering the subjects of financial accounting, auditing, taxation, and management accounting; and n At least 24 semester hours in business courses (no more than six semester hours of which could be considered accounting courses). n Education requirements must be met at the time of application.
Image of page 15
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern