Auditing and Assurance ( 14.29 )

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Auditing and Assurance ( task 14.28 )

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Auditing and Assurance ( internet problems )

KKP 1 ( KUIS 12 ) How does IT governance fit into an organization’s overall governance? Define the requirements and objectives for, and drive the establishment of, IT governance in an enterprise, considering values, philosophy, management style, IT awareness, organization, standards and policies. Ensure that an IT governance framework exists and is based on a [...]

Auditing and Assurance ( internet problems )

KKP1 ( KUIS 11 ) What are three common pitfalls that should be avoided during brainstorming sessions? How can these problems be avoided? “social loafing,” “groupthink” and “groupshift.” To solve those problems there are several  ways such as: Assign homework. The discussion leader should inform participants well in advance of a scheduled meeting that they [...]

Auditing and Assurance ( internet problems )

KKP 1 ( KUIS 10 ) Use EDGAR to search for Tri-Valley Corporation (TVC) and Monarch Staffing Inc. Find TVC’s 10-K and Monarch’s 10-KSB for the year ended 12-31-06. TVC : http://sec.gov/Archives/edgar/data/22551/000002255107000009/tvc123106-10k.htm monarch: http://www.secinfo.com/d12PKm.u1p.htm Did either company report material weaknesses in ICFR? If so, what were the weaknesses? Yes they did, TVC: Yes, Both companies [...]

Auditing and Assurance ( internet problems )

KKP1 ( KUIS 9 ) Imagine that you are employed as an auditor in a CPA firm that performs the audit of Microsoft. Your firm’s materiality guidelines indicate that overall engagement materiality should be set at an amount between five and ten percent of income before taxes. a.  Apply your firm’s guidelines to Microsoft’s 2003 [...]

Auditing and Assurance ( internet problems )

KKP 1 ( KUIS 8 ) Are On the Sunny Side’s 2002 and 2003 unit sales reasonable? Why or why not? You should address the following matters in four brief bulleted responses: Brief company history. Description of the company’s business (for example, related companies and competitors). Key accounting issues identified from a review of the [...]

Auditing and Assurance ( internet problems )

KKP 1 ( KUIS 7 ) Read about ACL’s solution for data quality and fraud detection. How might an auditor use ACL’s data analytics software for these two purposes? For data quality: ACL give solution to allow audit teams to work more productively and efficiently by enabling direct immediate access to all of the source [...]

Auditing and Assurance ( internet problems )

KKP 1 (Kuis 6) Read the statements issued by the PCAOB and SEC on May 16, 2005 and briefly describe the apparent underlying cause(s) for auditors’ failure in applying the concept of reasonable assurance. Hint: Read the portion of the PCAOB’s policy statement entitled “The Importance of Professional Judgment.” Just like the others auditing standards, [...]

Auditing and Assurance ( internet problems )

KKP1 ( kuis 3) The EDGAR web site describes many SEC-required forms. Explain the purpose of each of the following SEC forms: Form 8-K Form 10-K Form 10-KSB Search EDGAR for the 10-K filings of the three companies listed below. Within the 10-K filings locate the independent auditor’s report and identify the type of opinion [...]