Acc 403 Week 7 Discussion Acc403 Week 7 Discussion Essay

2285 Words Sep 28th, 2015 10 Pages
ACC403 Complete Course Week 1 to Week 11

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ACC 403 Week 1 Discussion
"Auditor's Role and Responsibilities" Please respond to the following:
Compare the primary auditor objectives in auditing historical financial statements to auditing internal controls over financial reporting. Identify at least two (2) objectives that are the most significant in reducing the risk of reporting errors or misstatements in financial statements. Provide a rationale for your response.
Create a scenario where it would be acceptable for an external auditor to accept
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Ascertain the major ways in which this information would impact the audit risk model equation. Support your position.

ACC 403 Week 4 Homework
Chapter 7: Problems 7-29(a-g) and 7-33(a-b)
Chapter 8: Problems 8-29(a-d) and 8-32(a-b)

ACC 403 Assignment 1 Auditors and Regulatory Oversight

Assignment 1: Auditors and Regulatory Oversight
Due Week 4 and worth 240 points
The Securities and Exchange Commission (SEC) regulates public companies. The SEC has found that some of these companies have violated GAAP by using creative accounting practices to mislead investors and creditors regarding the health of their company.
Use the Internet or Strayer Library to research a recent accounting scandal within the last five (5) years where the SEC accused public companies of accounting irregularities.
Write a three to four (3-4) page paper in which you: 1. Analyze the audit report that the CPA firm issued. Ascertain the legal liability to third parties who relied on financial statements under both common and federal securities laws. Justify your response. 2. Speculate on which statement of generally acceptable auditing standards (GAAS) that the company violated in performing the audit. 3. Compare the responsibility of both management and the auditor for financial reporting, and give your opinion as to which party should have the greater burden. Defend your position. 4.

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