Audit Essays

The topic of the report is an exploration of a career option and a Tax Auditor at Canada Revenue Agency. The purposes of this report are to not only prepare myself for the position by examining and learning but also introduce a different field of work to colleagues All residents …

1 a) What would you recommend to the caller if you were Dr. Mitchell? Since it appears that the firms top executives are all apart of the fraud and don’t plan on correcting their unethical action. I recommend that the anonymous caller completely remove himself/herself from the situation by resigning …

In systems development, the temptation to skip certain prescribed tasks associated with documentation, combined with the fastpaced life of IT professionals, can create an environment that is not able to properly employ the best practices of systems development. However, the employment of best practices has proven over the years to …

This letter confirms our understanding of the previously discussed arrangements for our audit of the financial statements of Jackson Enterprises, for the year ending 2011. We will audit the Company’s balance sheet as of 12/31/2011, along with the related statements of Income, retained earnings, and cash flows for all of …

The high audit fee is a direct financial interest that can cause bias. The larger the amount of audit fees paid by the audit client company to the audit firm, the more likelihood that it will impair. The auditor may have to compromise their independence in many ways to ensure …

Ernst & Whinney never issued an audit opinion on financial statements of ZZZZ Best but did issue a review report on the company’s quarterly statements for the three months ended July 31, 1986. How does a review differ from an audit, particularly in terms of the level of assurance implied …

This case titled “The North Face” examines the accounting schemes used by North Face executives to enhance the company’s revenues and profits. These schemes primarily involved violations of the revenue recognition rule for certain barter and consignment transactions arranged by the company’s chief financial officer and vice-president of sales. Deloitte …

In this mini case Mike Stephan is dealing with a very difficult situation because he is new to the accounting firm and wants to impress the superior accountants on his engagement team. While auditing for EarthWear, he makes a little mistake by spending too many hours looking at the wrong …

By law, accountants may be responsible for customers that hire them in various legal theories, including contract, fraud and negligence. Accountant malpractice happened when he or she violates the duty of reasonable care, knowledge, skills and judgment that he or she is due to a client or to the laws …

Auditing planning and reporting are two critical stages in whole audit Cycle. Audit planning is before beginning of field work and reporting is last Stage in bank audit Good planning leads to effective Reporting Planning (also called forethought) is the process of thinking about and organizing the desired activities required …