If the CEO and CFO of a company need to certify the financial statements and internal control system, why do we still need external auditors to give their opinions on these items? Explain why auditors must put more emphasis on the completeness and ...
Also, explain why the financial statements must be audited by an external party. Explain why monitoring controls are very important and something that auditors need to seriously evaluate. What are an auditor's responsibilities under auditing standards to detect management fraud? How will auditors test...
Overall, most of the research on gender and accountancy uses a “gender-as-a-variable” methodology; this research focuses on the Anglo-Saxon context and studies the accounting profession, especially auditing. Different explanations have been advanced in accounting research, but they are not sensitive...
The better information that both shareholders and boards of directors will get as a result of these new rules will help them make better decisions about the appropriate amount to pay the men and women entrusted with running their companies. Shareholders need intelligible disclosure that can be under...
How do companies perform a market test? Describe four actions that are key elements of leading the strategy execution process. Explain the need for trade-offs in the implementation of business strategies. What are the primary steps to proving that a market exists in the market ...
Explain why auditors must put more emphasis on the completeness and obligation assertion when auditing payables and contrast this with the audit of asset accounts. Which set of standards gives more industry-specific guidance: U.S. GAAP or IFRS? G...
Why do public companies need auditor reports? If the CEO and CFO of a company need to certify the financial statements and internal control system, why do we still need external auditors to give their opinions on these items? What are an ...
Why are they important? Provide some examples of internal controls. How are internal controls enhanced by the documentation of procedures? Explain auditing procedures, especially their purpose. What are some examples of effective internal controls? Describe some bu...
What is materiality in auditing? Explain how materiality affects audit reporting decisions in detail. The Internal Revenue Service requires all companies with sales over $5,000,000 to use the accrual basis of accounting for income tax reporting purposes. Why? What ...
Provide two (2) examples of companies that have been guilty of ethics-based malfeasance related to financial management and determine why their comeuppance was deserved. 1. What does it mean to say that managers should maximize s...