January 19, 2016
Module 1 Assignment
No. 2: Define assurance services. What are the two distinct types?
The name assurance services is used to describe a broad range of information enhancement
services that are provided by CPAs. Th
VALLEY PUBLISHING COMPANY
#111 - Central State Bank
[Prepared by client]
Balance per bank, 12/31/x2
Add: Deposits in transit
Bank error - check paid by bank wasn't our check
Less: Outstanding ch
April 9, 2016
Module 8 Assignment
No. 1: A customers order includes reviewing the items and quantities to determine whether the order
can be filled within a reasonable time, and a sales order is a translation of the terms of the cu
April 2, 2016
Module 7 Assignment
No. 1: Describe circumstances that might cause the auditors to identify understatement of assets as a
significant audit risk.
The auditors might identify understatement of assets as a significant a
March 5, 2016
Module 6 Assignment
2. Describe the difference between sampling risk and nonsampling risk.
Sampling risk is the risk that the auditors conclusion based on a sample might be different from
the conclusion they would rea
February 27, 2016
Module 5 Assignment
No. 4: How does separation of the record keeping function from custody of assets contribute to internal
By separating the employee keeping the records from having access to the physica
February 19, 2016
Module 4 Assignment
8. Should a separate audit program be prepared for each audit engagement, or can a standard program
be used for most engagements?
A separate program should be prepared for each audit engagement,
February 5, 2016
Chapter 3 Assignment
17. What are related party transactions?
Related party refers to individuals are entities who may have dealings with the client in which one
party is significantly influenced by the other such
January 29, 2015
Chapter 2 Assignment
No. 2: What is the difference between GAAP and AICPA GAAS?
The main difference between GAAP and GAAS is that GAAP presents principles for accountants and
companies to follow when they are prepa
March 12, 2016
Chapter 10 Assignment
8. Explain three situations in which the wording of a report with an unmodified opinion might depart
from the auditors standard report.
Substantial doubt about an entitys ability to continue as