1.54 InternetExercise:ProfessionalCertification.Each state has unique rules for certification
concerning education, work experience, and residency. Visit the Web site for your state
board of accountancy and download a list of the requirements for becoming
Homework Session 11
Chapter 11: Question 11.52
no requested respond by date
no description of case progress
no estimate of potential loss
no inquiry of unbilled charges, services, disbursements
no evaluation of possible unfavorable outcome
Homework Session 10
8.48 Assertions and Substantive Procedures for PP&E
1. Valuation and existence
5. Valuation and allocation
7. Completeness, valuation and allocation
8. Valuation and allocation
Homework Session 9
a. Accounts receivable represent all amounts owed to the client company at the balance sheet date.
Answer: 2. Perform sales cutoff tests to obtain assurance that sales transactions and corresponding
entries for inventories
Homework Session 8
Chapter 6: Question 6.53
The embezzlement might be detected because of higher expenses. The company is now paying
duplicated expenses. Higher expenses result in lower profits and this might be noticed. An increase in
the outflow of cash
Homework Session 7
Due July 15, 2012
Chapter 5: Question 5.67
Are names of terminated employees reported in writing to the payroll department?
a. Occurrence, check to make sure that employees are actually employees at the firm and that the
Homework Session 5
Due July 1, 2012
No significant changes? Current-year amounts should be fairly similar to prior years.
Identify any changes over 10%/$100,000
Look at data and relationships and determine if these changes and relationships descri
Homework Session 4
Due June 24, 2012
3.51 Risk Assessment
Company: Toxic Waste Disposal
Privately owned; contracts with municipal governments to remove environmental wastes.
Consider management, industry and the company.
1. Decrease risk; municipal govern
Homework Session 3
Due June 17, 2012
12.44 Reports on Financial Statements: Various Reporting Situations
a. A qualified opinion for lack of evidence, or a disclaimer of opinion depending
on the materiality of the financial items affected.
A612 Homework Session 2
Due Sunday, June 10, 2012
Chapter 2 Question 2.55 Principles Case Study.
Briefly describe each of the principles and indicate how the action(s) of Holmes resulted in a
failure to comply with these principles.
AICPAs Code of Professional Conduct Rule 101 and 102:
Independence and Integrity/Objectivity
How both coincide with an auditors morality, ethical behavior, and conflict of interest.
By Krystal Smith
When you think of auditing, you can paint a neg