ACC 821-011 and ACC 821-701E
Note: This outline is subject to additions or revisions that may arise over the course of the term. Any changes will be
announced on Brightspace and in class, and a revised version will be posted.
Solution to Computer Bazaar Inc.
CAS 200 defines the components of risk. The risk of material misstatement, the risk that the
financial statements are materially misstated prior to audit, consists of two components, inherent
risk and contr
Is it the Auditor or the Process?
The following group of readings highlight how the audit environment and the auditor
contribute to audit quality.
William Hall, a retired partner of Arthur Anderson, reflects upon his experience as an
Notes On Assertions
I don’t Understand Assertions!
Perhaps one of the most common questions I get from students (besides “What’s on the
exam?) is: “Can you please explain what assertions are?"
The assertions contained in ﬁnancial statements come
Are checklists killing our profession? | CAmagazine.com
Are checklists killing our profession?
By Phil Cowperthwaite
Illustration: Mike Constab le
Generic checklists may be a great way
to start an audit, but they can lead to a
lessened focus on j
1 | Professional Judgment:
Auditors’ Contribution to the Quality and Integrity of Financial Reporting
Why is Professional Judgment so Important?
Professional judgment is the essence of auditing. Financial statements are full of