a.
Introduction: External audit is examining the financial statements of an organization independently. This examining is based on certain rules and laws to check the accuracy of the company’s record. This type of audit is independent in nature.
To describe:The role of Congress and in which way it affects external auditing profession.
b.
Introduction: External audit is examining the financial statements of an organization independently. This examining is based on certain rules and laws to check the accuracy of the company’s record. This type of audit is independent in nature.
To describe: The role of PCAOB (Public Accounting Oversight Board) and in which way it affects external auditing profession.
c.
Introduction: External audit is examining the financial statements of an organization independently. This examining is based on certain rules and laws to check the accuracy of the company’s record. This type of audit is independent in nature.
To describe: The role of SEC (Securities and exchange commission) and in which way it affects external auditing profession.
d.
Introduction: External audit is examining the financial statements of an organization independently. This examining is based on certain rules and laws to check the accuracy of the company’s record. This type of audit is independent in nature.
To describe: The role of AICPA (American Institute of Certified Public Accountants) and in which way it affects external auditing profession.
e.
Introduction: External audit is examining the financial statements of an organization independently. This examining is based on certain rules and laws to check the accuracy of the company’s record. This type of audit is independent in nature.
To describe: The role of CAQ (The Centre for Audit Quality) and in which way it affects external auditing profession.
f.
Introduction: External audit is examining the financial statements of an organization independently. This examining is based on certain rules and laws to check the accuracy of the company’s record. This type of audit is independent in nature.
To describe: The role of IAASB (International
g.
Introduction: External audit is examining the financial statements of an organization independently. This examining is based on certain rules and laws to check the accuracy of the company’s record. This type of audit is independent in nature.
To describe: The role of COSO (Committee of Sponsoring Organizations of the Treadway Commission) and in which way it affects external auditing profession.
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Auditing: A Risk Based-Approach to Conducting a Quality Audit
- Which section of the regulations require a CPA to comply with Generally Accepted Accounting Principles and Generally Accepted Auditing Standards? If compliance is required by other organizations (PCAOB, AICPA, etc.) why do you think this requirement is also included in the regulations?arrow_forwardWhat is operational auditing? How does the AICPA (American Institute of Certified Public Accountants) view operational auditing?arrow_forwardWho develops and implement policy on the engagement of the external auditor to supply non-audit services ? Audit Committee Chief Executive Officer Management Board of Directorsarrow_forward
- Auditing: A Risk Based-Approach to Conducting a Q...AccountingISBN:9781305080577Author:Karla M Johnstone, Audrey A. Gramling, Larry E. RittenbergPublisher:South-Western College PubAuditing: A Risk Based-Approach (MindTap Course L...AccountingISBN:9781337619455Author:Karla M Johnstone, Audrey A. Gramling, Larry E. RittenbergPublisher:Cengage Learning