ACC 562 ACC562 ACC/562 ENTIRE COURSE HELP – ASHFORD UNIVERSITY

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ACC 562 ACC562 ACC/562 ENTIRE COURSE HELP – ASHFORD UNIVERSITY

ACC 562 Final Exam Guide

ACC 562 Midterm Exam Guide

ACC 562 Week 1 DQs

ACC 562 Week 10 Assignment 3 Freescale Semiconductors, Inc (2 PPT)

ACC 562 Week 10 DQs

ACC 562 Week 11 DQs

ACC 562 Week 2 DQs

ACC 562 Week 3 Assignment 1 Madoff Securities (2 Papers)

ACC 562 Week 3 DQs

ACC 562 Week 4 DQs

ACC 562 Week 5 DQs

ACC 562 Week 6 DQs

ACC 562 Week 7 Assignment 2 Cardillo Travel Systems, Inc. (2 Papers)

ACC 562 Week 7 DQs

ACC 562 Week 8 DQs

ACC 562 Week 9 DQs

ACC 562 ACC562 ACC/562 ENTIRE COURSE HELP – ASHFORD UNIVERSITY

ACC 562 Final Exam Guide

1.Developing an understanding of the client’s business and industry is essential to proficiency as discussed in the general standards of GAAS. (Points: 4)
True
False

2. Ratio analysis only involves a year-to-year comparison of account balances. (Points: 4)
True
False

3. Control is considered to be part of corporate governance. (Points: 4)
True
False

4. When control risk is assessed at a maximum level, the auditor assumes that the internal controls are reliable in preventing or detecting material misstatements. (Points: 4)
True
False

5. Accounting subsystems are accounting cycles composed of one or more accounting applications. (Points: 4)
True
False

6. Presentation and disclosure assertions imply that all transactions and balances are properly presented, disclosures represent what actually happened, and the footnote disclosures are appropriate and adequate. (Points: 4)
True
False

7. Vouching recorded transactions involves taking a sample from the journal and tracing them back to the source documents to ensure they occurred. (Points: 4)
True
False

8. Audit documentation serves as support for the financial statements. (Points: 4)
True
False

9. In analysis of the results of audit sampling, an auditor may determine that the sample size must be increased. (Points: 4)
True
False

10. The revenue cycle considered by auditors includes the sales process but not collections. (Points: 4)
True
False

11. Inventory is complex and typically considered a high-risk area in audits of service firms. (Points: 4)
True
False

12. An auditor can utilize a cross-sectional analysis for a client operating in multiple locations to identify areas of further inventory testing. (Points: 4)
True
False

13. Legal expenses are reviewed by auditors for possible litigation and related FAS 5 treatment. (Points: 4)
True
False

14. An imprest payroll account will never reach a zero balance. (Points: 4)
True
False

15. A turnaround document is an effective completeness control because they list essential information for further processing of the collection on account. (Points: 4)
True
False

16. Auditors will perform an analysis of leases using SFAS 13 criteria and other EITF statements to substantiate the accounting treatment. (Points: 4)
True
False

17. Contingencies are considered by the auditor in relation to the SFAS No. 5 criteria to determine whether material contingencies exist with the client and, if so, that they are properly accrued or disclosed. (Points: 4)
True
False

18. An example of a Type II Subsequent Event includes the settlement two months after year-end of a liability for an amount well in excess of the amount that was accrued at year-end. (Points: 4)
True
False

19. A report on agreed-upon procedures issued by accountants provides the lowest form of attestation assurance. (Points: 4)
True
False

20. The need for assurance services arises for all of the following reasons EXCEPT: (Points: 4)
potential bias in providing information.
closeness between a user and the organization.
complexity of the processing systems.
remoteness between a user and the organization.
21. Which one of the following is not part of the attest process? (Points: 4)
evaluating evidence against objective criteria
gathering evidence about assertions
proving the accuracy of the books and records
communicating the conclusions reached

22. Users can reasonably expect audited financial statements to be (Points: 4)
complete and contain all important financial disclosures, be free from material misstatements and be presented fairly.
complete and contain all-important financial disclosures, be free from material misstatements and be presented fairly according to GAAP.
complete, be accurate and be presented fairly according to GAAP.
complete and contain all-important financial disclosures, be free from all misstatements and be presented fairly according to the substance of GAAP.

23. Which one of the following is not a provider of assurance services? (Points: 4)
CPAs
internal auditors
governmental auditors
AICPA

24. The primary governing board that performs quality reviews on registered CPA firms that audit public companies is the (Points: 4)
PCAOB
GAO
AICPA
FASB

25. Management of an organization has the responsibility for all of the following except: (Points: 4)
accounting principles used in financial reporting
engagement of a qualified auditor
internal control over financial reporting
financial statements and disclosures

26. The financial statement auditor must understand the client’s internal control as a component of the fieldwork standards. The one of the reason for this understanding is so that the auditor may (Points: 4)
provide individual comments on internal control non-compliance.
become comfortable that the client will pay its audit bills.
assess materiality.
assess the risk of possible misstatements in the financial statements.

27. For an auditor to be independent, he or she must be independent in (Points: 4)
fact.
appearance.
fact and appearance.
either fact or appearance.

28. An auditor is concerned with materiality for which of the following reasons? (Points: 4)
to assess internal control
to comply with the quality assurance standards of GAAS
to determine the effects of misstatements on the users of financial information
to cut down on audit procedures and testing

29. A proper system of corporate governance is one that demands (Points: 4)
decision making by auditors in place of management.
internal audit representation on the board of directors.
audit planning to obtain competent and sufficient audit evidence.
accountability back through the system to the shareholders.

30. In determining the types of activities, engagements and interactions an auditor should have with a client, the CPA and the audit firm must (select the best answer) (Points: 4)
follow the rules exactly as they are written.
assess all of their relationships with every client to ensure that independence is intact.
focus on client satisfaction above all other considerations
realize that ethics are only guidelines and a matter of personal judgment.

31. The AICPA Principles of Professional Conduct include (Points: 4)
due professional care and supervision.
scope and nature of services and adequate training.
integrity and independence
public interest, integrity and objectivity.

32. A public client is required to report material changes in internal control (Points: 4)
monthly.
quarterly.
annually.
never.

33. Programs written to accomplish specific processing tasks, such as computing payroll, are (Points: 4)
application programs.
operating system programs.
Java scripts.
access control programs.
 

34. The combination of which functions in an information technology environment are not necessarily a control weakness? (Points: 4)
user and programming functions
database administrator and data input functions
programmers and authorization of changes
users and certain data access

35. Backup controls, used to prevent data and software loss would include procedures to: (Points: 4)
load balance in the event of heavy traffic across the network.
constantly monitor the network for intrusion and attack.
provide an alternate form of electricity to the corporate facilities.
fail-over to a mirrored storage device in the event of interruption or loss.

36. Which one of the following is an example of an edit test for limits? (Points: 4)
Only numbers are allowed to be input into the social security number field and dashes are pre-formatted.
Each sales order is given an identifier that is also tagged to the receipt of goods record, the customer invoice record and the cash receipts record
The purchasing department may order materials up to $5,000 in total before a second electronic authorization is required.
Supplies may not be purchased from any vendor not authorized and existing in the vendor table.

37. The control totals used to ensure the completeness of processing in a batch processing environment include (Points: 4)
record count.
control totals.
hash totals.
all of the above.

38. The type of test used to check that no hourly employee is paid more than $400.00 in one week is: (Points: 4)
an edit test.
a batch control test.
an output control test.
none of the above.

39. Tagging and tracing might best be used to test which of the following? (Points: 4)
The number of confirmations returned compared to the number of confirmations sent out.
The corporate credit card is only being used for business transactions.
All customer orders shipped were also invoiced and that cash was received.
Quantities of product F411029 have been accurately counted in the warehouse.

40. Which one of the following would be the least persuasive type of evidence? (Points: 4)
Confirmations returned by bank directly to the auditor.
Letters of communication from the Securities Exchange Commission.
Physical examination of perpetual inventory.
General ledger in a newly developed information system.

41. The primary support of an audit is (are) (Points: 4)
the financial statements.
the audit working papers.
the audit report.
the confirmation documentation.

42. The primary assertion that is satisfied by physically observing the client’s count of inventory is (Points: 4)
existence.
rights.
valuation.
completeness.

43. The audit team asks the client to pull a sample vendor files and examines the invoices supporting the purchases of inventory items during the year. What is the most probable reason for the use of this evidence? (Points: 4)
Confirmation of vendors supplying inventory for existence.
Analytical procedures to determine completeness of inventory.
Testing for the valuation of inventory using the FIFO cost flow assumption.
Reading the terms of the arrangements with vendors for disclosure.

44. The extent of procedures is affected mostly by: (Points: 4)
the sheer volume of procedures to be applied by the auditor.
the time of year in which the client takes a physical inventory in the warehouse.
the auditor’s judgment that misstatements are probable in certain balances.
the availability of the client’s staff at or near the balance sheet date.

45. An audit program is created to specify: (Points: 4)
the type of audit opinion to be rendered based upon procedures performed.
the audit procedures that will be performed each year for the client.
how an auditor should think while performing audit procedures.
objectives and procedures to be followed during the audit process.

46. Which one of the following is primary reason for documenting audit work? (Points: 4)
to prevent litigation by other parties that question the audit performance.
to provide a stand-alone medium that gives audit conclusions and supports the opinion.
to supply a point of reference for all auditors performing the work subsequently.
to supply a point of reference for all auditors performing the work subsequently.

47. Which of the following would most likely be considered intentional misapplication of accounting principles on financial statements? (Points: 4)
A capital lease is presented as periodic rent expense rather than interest and depreciation.
A deferred tax asset is reduced to zero with a valuation allowance.
A stock option is expensed even though the fair value of the underlying stock on the date of grant was the same as the option’s exercise price.
Revenues for up-front fees are deferred rather than recognized immediately.

48. The audit of financial statements includes the initial approach of addressing fraud. How must an auditor address fraud in the planning stage? (Points: 4)
The auditor must test for fraud in the planning stage by sampling accounts.
The auditor must consider the likelihood of fraud existing in the company in the planning stage.
The auditor must realize that most people are honest and not automatically assume that fraud exists when planning the audit.
The auditor must not be aggressive in its initial approach to fraud as trust may be lost by the client.

49. Which of the following creates an opportunity for fraud to be committed in an organization? (Points: 4)
Management demands financial success.
Poor internal control.
Commitments tied to debt covenants.
Management is aggressive in its application of accounting rules.

50. Sam Jones, controller of Mitnikco, spends three days researching the accounting statements to find loopholes in the “rules” and to make a case for recognizing revenue earlier, rather than in later years. In the end, Sam and the other members of management determine that they will reduce the company’s deferred revenue accounts and begin accounting for all revenues as agreements are signed. What are the motivations of Mitnikco management based solely on the information above? (Points: 4)
Pressures
Opportunity
Rationalization
Skepticism

51. Sampling risk is the risk that (Points: 4)
the sample will not contain characteristics representative of the population such that inferences made about that population will be incorrect.
the population will not contain characteristics representative of the sample such that inferences made about that sample will be incorrect.
Neither A nor B is correct.
Both A and B are correct.

52. The sample size varies directly with (Points: 4)
the expected failure rate.
the tolerable error rate.
the allowable risk of assessing control risk too low.
the nonsampling risk

53. The steps used in sampling during substantive testing includes the determination of each of the following except (Points: 4)
the audit objective.
the method of selecting a sample.
expected misstatement conditions
control failure risk.

54. The design of a PPS sample requires the auditor to determine all of the following except (Points: 4)
detection risk.
inherent risk.
tolerable misstatement.
expected misstatement in the account balance.

55. Which of the following is the best example of the control objective in the revenue cycle that all transactions are recorded accurately? (Points: 4)
Sales are recorded at the invoice price expected to be collected from customers.
Sales orders have sequential numbering.
Recorded sales transactions are evidenced by valid invoices and shipping documents.
Credits to customer accounts are classified as liabilities.

56. In an audit of financial statements, the risk of the high rate of return of products sold includes that of (Points: 4)
sales that are recorded improperly.
an estimate of accrued returns that reduces net income.
a reduction of net sales for an increase to the sales returns and allowance account.
consignment goods that are returned and forwarded to third parties.

57. Confirmations that are sent to select customers asking them to review the current balance due the client as shown on the client’s statement and return the letters directly to the auditor indicating whether they agree with the indicated balance, are known as (Points: 4)
direct confirmations.
indirect confirmations.
positive confirmations.
negative confirmations.

58. Which of the following is an example of the type of analytics that an auditor would use for inventory? (Points: 4)
Number of day’s sales in receivables compared to industry averages.
Inventory turnover for the previous five years.
Number of obsolete units this period compared to last.
Salaries of marketing personnel as a percent of total inventory.

59. Which one of the following accounts would an auditor most likely test by performing analytical procedures? (Points: 4)
Sales commissions expense.
Legal expenses.
Repairs and maintenance expense.
Travel expense.

60. Operational audits of cash management seek to identify areas in which cash management may be improved to contribute to the overall profitability and effectiveness of the organization. The internal auditor would use which of the following procedures on an operational audit of cash? (Points: 4)
determine the compliance of treasury activities with company policy
review procedures for identifying and investing excess funds
review procedures for handling cash receipts
all of the above

61. Which represents the most significant risk associated with restructuring liabilities on the financial statements? (Points: 4)
Future smoothing of income by releasing the reserves.
Related party transactions that are not recorded at arms-length.
Understatement of assets in the period of recording the liabilities.
Payroll liabilities that are not disclosed in the notes.

62. All of the following are significant issues for consideration when auditing for the impairment of goodwill, except (Points: 4)
timing of the assessment by management.
amortization in years of the goodwill.
clear objective evidence supporting the assessment.
understanding the client’s business and its risks.

63. Simco’s shaving products division was acquired over ten years ago in a purchase transaction by BlizzardCraft. The related goodwill was amortized until 2002 and $4.5 million remained on the books thereafter. In 2008, Simco’s production machinery was assessed for impairment as a long-lived asset because of obsolescence issues. What relationship will the auditors most likely make between the facts stated above? (Points: 4)
BlizzardCraft erroneously treated the acquisition of Simco as a purchase transaction when it should have been a pooling of interests.
Simco should not have amortized goodwill previous to 2002.
Simco’s goodwill should have been written off when purchased by BlizzardCraft in a one-time transaction.
The goodwill related to Simco may have been impaired during 2008.

64. All of the following represent a related entity to an organization except (Points: 4)
the president’s son.
an affiliate with common ownership.
customers.
primary owners.

65. All of the following represent equity issuance requiring prominent accounting, presentation and disclosure treatment, except (Points: 4)
stock with beneficial conversion features.
Warrants issued to a consultant for services performed.
Preferred stock that is cumulative and par value is $0.50 per share.
Dividends have not been paid on common stock since inception.

66. The auditor will examine proceeds and trace them to recorded amounts of the par value of common stock to determine that (Points: 4)
shares exist and have valid stock certificates.
proceeds have been properly distributed between common stock and additional paid-in capital.
dividends have been issued in accordance with the stock indenture agreement as approved by the board.
shareholders actually have the rights to shares issued by the company in exchange for subscribed funds.

67. Which of the following is a tool that is best used by the audit team to determine if the client has included all disclosures? (Points: 4)
Management representation letter.
GAAS.
Inquiry of the CFO.
Checklists.

68. The auditor is responsible for evaluating the likelihood of a client continuing as a going concern for a reasonable period of time. A reasonable period of time is (Points: 4)
one year from the audit report date.
one year from the last day of field work.
one year from the balance sheet date.
two years from the balance sheet date.

69. Rock School, Inc. has a matter of material litigation that is threatened, but that has not gone to trial. The auditor’s consideration of such a matter will most likely include all of the following except (Points: 4)
sending a letter to the client’s attorneys for more information
discussions of the matter with the client and the client’s insurance adjuster.
confirmation with the harmed party regarding the amount that will be claimed.
assessment of proper accrual or disclosure by the client in accordance with SFAS No. 5.

70. When the financial statements contain a material departure from GAAP that the auditor believes is justified, justification (Points: 4)
should appear in a footnote.
should appear in a paragraph added before the scope paragraph.
should appear in the opening paragraph.
should appear in a paragraph added before the opinion paragraph.

ACC 562 ACC562 ACC/562 ENTIRE COURSE HELP – ASHFORD UNIVERSITY

ACC 562 Midterm Exam Guide

Question 1

CPAs are licensed by the

Question 2

The Certified Internal Auditor program is administered by the

Question 3

The objective of an operational audit is to

Question 4

As it relates to an audit, materiality is

Question 5

Independent professional services that are provided on financial or other information that improve the quality of decision making are known as

Question 6

An expectation of the public is that the auditor will recognize that the primary users of audit assurance are

Question 7

The primary governing board that performs quality reviews on registered CPA firms that audit public companies is the

Question 8

An audit which has as its purpose the evaluation of the economy and efficiency with which resources are employed is known as a(n)

Question 9

Management of a company is responsible for

Question 10

The audit agency for the U. S. Congress is the

Question 11

An audit committee must be comprised of outside directors and at least one outside financial expert.  Which of the following is considered an outside director?

Question 12

A proper system of corporate governance is one that demands

Question 13

Section 304 of the Sarbanes-Oxley Act requires executives to forfeit any bonus or incentive-based pay or profits (including stock options) from the sale of stock received in the twelve months prior to an earnings restatement. This is often referred to as:

Question 14

Which one of the following will provide auditing standards of public companies?

Question 15

The responsibility for operating an enterprise is delegated to the:

Question 16

The Sarbanes-Oxley Act of 2002 requires which of the following?

Question 17

The audit client of the CPA firm is:

Question 18

The Public Company Accounting Oversight Board was established by:

Question 19

Audit committees are required to have what person in its composition?

Question 20

Corporate governance is a process by which the owners and creditors of an organization

Question 21

In determining the types of activities, engagements and interactions an auditor should have with a client, the CPA and the audit firm must do which of the following?

Question 22

Independence is not required for which of the following types of services?

Question 23

The AICPA Principles of Professional Conduct include which of the following?

Question 24

An auditor that has an attitude that includes a questioning mind and a critical assessment of audit evidence is considered which of the following?

Question 25

A CPA firm is considered independent when it performs which of the following services for a publicly traded audit client?

Question 26

Information about a client that cannot be subpoenaed by a court of law is referred to as what type of information?

Question 27

Members of the AICPA are required to act with integrity and objectivity for which of the following engagements?

Question 28

Which one of the following is an example of a conflict of interest for a CPA?

Question 29

A CPA may only practice public accounting in which of the following forms?

Question 30

Which of the following describes a  situation in which moral duties or obligations conflict and one action is not necessarily the correct action?

ACC 562 ACC562 ACC/562 ENTIRE COURSE HELP – ASHFORD UNIVERSITY

ACC 562 Week 1 DQs

Analyze the need for unbiased financial reporting. Based on your analysis, determine at least two (2) drivers that may cause financial reporting to be biased. Provide a rationale to support your response.

Analyze the audit opinion formulation process and suggest at least one (1) improvement to the process to strengthen audit opinions. Provide a rationale to support your suggestion.

ACC 562 ACC562 ACC/562 ENTIRE COURSE HELP – ASHFORD UNIVERSITY

ACC 562 Week 10 Assignment 3 Freescale Semiconductors, Inc (2 PPT)

This Tutorial contains 2 Different PPT

Review the Freescale Semiconductor case, located in Chapter 9 of your textbook.

Prepare a twelve to twenty (12-20) slide PowerPoint presentation with speaker notes in which you:

1. Give your opinion as to whether or not additional laws and harsher penalties on financial fraud can eliminate or mitigate financial fraud. Support the rationale.

2. Suggest three (3) new strategies that you believe the government can implement to eliminate or mitigate insider trading. Provide a rationale to support the suggestion.

3. In this case study, leaked merger and acquisition information was used to enable the fraud. Determine the key internal controls needed over the communication of confidential information to outside parties, and analyze the manner in which these controls act as a deterrent to fraudulent activities.

4. Pretend you are Donna Murdoch in this case study and propose an alternative plan to act on the leaked information. Next, recommend one (1) strategy to communicate the alternative plan and determine whom the plan should be communicated with. Justify the response.

5. In this case study, E&Y was providing a consulting service to The Blackstone Group related to its planned acquisition of Freescale Semiconductor. Compare and contrast the different auditor’s professional responsibilities between consulting engagements and audit engagements.

6. Take a position on whether more legislative and / or regulatory agency oversight will increase or decrease corporate fraud. Provide a rationale to support the position.

7. Use at least two (2) quality academic resources in this assignment. Note: Wikipedia and similar type Websites do not qualify as academic resources.

Your assignment must follow these formatting requirements:

Apply APA standards to citation of sources

No more than four (4) bullets per slide

No more than six (6) words per bullet

Headings – Times New Roman Font – 36 Points

Bullets – Times New Roman Font – 24 Points

Add bulleted speakers notes

Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date.

ACC 562 ACC562 ACC/562 ENTIRE COURSE HELP – ASHFORD UNIVERSITY

ACC 562 Week 10 DQs

From the case study, evaluate the quality of REDTOP’s internal audit function. Based on your evaluation, recommend at least two (2) changes that you would make in order to improve the quality of REDTOP’s internal audit function. Provide a rationale to support your response.

From the case study, give your opinion as to whether or not your external audit engagement team could use REDTOP’s internal audit function in another fashion, as opposed to merely relying on existing internal audits in order to perform the overall audit of REDTOP Sports Company. Recommend one (1) alternative to using the work that the internal audit has already yielded as part of your external audit. Provide a rationale to support your response.

ACC 562 ACC562 ACC/562 ENTIRE COURSE HELP – ASHFORD UNIVERSITY

ACC 562 Week 11 DQs

Discuss one (1) way in which you anticipate using what you have learned from this course in your current or future career. Provide one (1) specific example to support your response.

Speculate on one (1) specific auditing area presented in this course that you believe may be eliminated, added, or changed in the next ten (10) years. Provide a rationale to support your response.

ACC 562 ACC562 ACC/562 ENTIRE COURSE HELP – ASHFORD UNIVERSITY

ACC 562 Week 2 DQs

Analyze the changes made to corporate governance rules since the implementation of the Sarbanes–Oxley Act of 2002. Based on your analysis, formulate an opinion on whether or not these changes are sufficient in preventing financial fraud. Provide a rationale for your response.

Debate it! Audit committees are an effective tool for detecting and preventing fraud. Provide a rationale for your response.

ACC 562 ACC562 ACC/562 ENTIRE COURSE HELP – ASHFORD UNIVERSITY

ACC 562 Week 3 Assignment 1 Madoff Securities (2 Papers)

This Tutorial contains 2 Different Papers

Determine the regulatory oversight that was in place while the Ponzi scheme was operating, and speculate on the main reasons why they did not discover the scheme.

Assume you are an auditor for a firm that had $10 million dollars invested in Madoff Securities.

Determine the fundamental audit procedures that you should have applied to this investment.

Predict the way in which a peer review of Friehling and Horowitz would have uncovered the scheme related to Madoff Securities.

Pretend you are Harry Markopolos and suggest one (1) strategy, different from that of the case study, to expose the potential fraud. Provide a rationale to support the suggestion.

Analyze the role of the audit committee for Madoff Securities in regard to the discovery of Ponzi scheme, and suggest one (1) action the audit committee could have taken in order to prevent or detect the fraud. Provide a rationale to support the suggestion

ACC 562 ACC562 ACC/562 ENTIRE COURSE HELP – ASHFORD UNIVERSITY

ACC 562 Week 3 DQs

From the case study, use the ethical framework to propose a course of action that you would take concerning the audit. Provide a rationale for your response.

Imagine that you work for an audit firm and the firm selected you to assess its auditor independence and the potential threats to the firm. Determine at least two (2) potential threats to auditor independence and recommend one (1) strategy for the firm to eliminate or mitigate those threats you determined.

ACC 562 ACC562 ACC/562 ENTIRE COURSE HELP – ASHFORD UNIVERSITY

ACC 562 Week 4 DQs

From the first e-Activity, determine at least two (2) AICPA Professional Conduct principles that are most likely to be violated. Provide a rationale to support your response.

•From the second e-Activity, recommend at least two (2) additional responsibilities that the audit committee should take in order to improve its effectiveness in detecting or preventing financial fraud. Provide a rationale to support your recommendation.

ACC 562 ACC562 ACC/562 ENTIRE COURSE HELP – ASHFORD UNIVERSITY

ACC 562 Week 5 DQs

Imagine you work for an auditing firm. Your most recent task is to determine whether or not your firm should bid to perform the auditing services of a public company. Determine the fundamental kind of information that you need in order to make an informed decision as to whether or not to bid on the audit. Provide a rationale to support your response.

From the case study, analyze the key risk areas associated with an audit of Lincoln Federal Savings and Loan. Next, recommend at least two (2) risk areas that should be included in the audit plan. Provide a rationale to support your recommendation

ACC 562 ACC562 ACC/562 ENTIRE COURSE HELP – ASHFORD UNIVERSITY

ACC 562 Week 6 DQs

From the e-Activity, support or critique the idea that the Committee of Sponsoring Organization of the Treadway Commission (COSO) transition would strengthen internal controls over financial reporting in publicly traded companies. Provide a rationale to support your response.

From the case study, determine the fundamental control deficiencies associated with the credit function. Next, propose at least one (1) control improvement that the credit department management could make in the process. Provide a rationale to support your response.

ACC 562 ACC562 ACC/562 ENTIRE COURSE HELP – ASHFORD UNIVERSITY

ACC 562 Week 7 Assignment 2 Cardillo Travel Systems, Inc. (2 Papers)

This Tutorial contains 2 Different Papers

Review the Cardillo Travel Systems case, located in Chapter 6 of your textbook.

Write a four to five (4-5) page paper in which you:

Explain the Securities and Exchange Commission’s rationale to charge Cardillo executives with each of the following violations:

a. making false representations to outside auditors

b. failing to maintain accurate financial records

c. failing to file prompt financial reports with the SEC

d. violating the insider trading provisions of the federal securities laws

Determine who was in violation or compliance of the AICPA’s Code of Professional Conduct in this case study and analyze the key reasons why they were or were not in compliance. Provide support for the rationale.

Analyze the actions taken by Cardillo’s outside auditors and evaluate the level of efficiency of the audit risk management in this case study. Provide support for the rationale.

Determine whether or not the five (5) components of internal control were being followed. Support the response with at least two (2) examples.

Create an argument for or against whether auditors have a responsibility to assess the judgment of the decisions made by Cardillo’s management. Support the argument.

Use at least two (2) quality academic resources in this assignment. Note: Wikipedia and similar type Websites do not qualify as academic resources.

Your assignment must follow these formatting requirements:

·  Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.

·  Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

ACC 562 ACC562 ACC/562 ENTIRE COURSE HELP – ASHFORD UNIVERSITY

ACC 562 Week 7 DQs

From the e-Activity, determine the main reasons why several members of top management in Phar-Mor perpetrated the financial statement fraud. Next, recommend one (1) strategy that the auditors might have taken to detect or prevent the fraud. Provide a rationale to support your recommendation.

From the case study, analyze the financial data as presented. Next, choose at least one (1) pattern within the data that appears to be inconsistent, and propose one (1) strategy that one could use to audit this pattern. Provide a rationale to support your response

ACC 562 ACC562 ACC/562 ENTIRE COURSE HELP – ASHFORD UNIVERSITY

ACC 562 Week 8 DQs

From the e-Activity, analyze the auditor’s responsibility to determine if a company can continue as a going concern. From your analysis, propose at least two (2) key factors that the auditor should consider when determining an entity’s ability to continue as a going concern. Provide a rationale to support your proposal.

From the case study, analyze the inquiry letter sent by C.R. Brown. Next, determine at least one (1) omission that you believe occurred within the letter, and suggest one (1) way to improve the letter so that Consolidate d’s outside attorney may corroborate the information in the case. Provide a rationale to support your response

ACC 562 ACC562 ACC/562 ENTIRE COURSE HELP – ASHFORD UNIVERSITY

ACC 562 Week 9 DQs

From the case study, determine the main potential ethical dilemmas. Next, use the seven (7) steps in the ethical decision-making framework to recommend one (1) course of action you would take in order to avoid the ethical dilemmas. Provide a rationale to support your recommendation.

1.     Identify the ethical issue

2.     Determine who are the affected parties and identify their rights

3.     Determine the most important rights

4.     Develop alternative courses of action

5.     Determine the likely consequences of each proposed course of action

6.     Assess the possible consequences including an estimation of the greatest good for the greatest number

From the case study, based on your recommendation in Part I of this discussion, suggest one (1) strategy that would support you making the right decision without undermining the manager’s confidence in your problem-solving ability in a difficult situation. Provide a rationale to support your response.