Auditor's report

she was working for the Countrywide Financial Corp. This role requires our whistleblower to supervise and monitor internal bank processes and mortgage fraud investigations, if needed, organize and send conclusion in the form of suspicious activity report to the U.S. Treasury as well as the board of directors. During her time, she learned that Full Spectrum Lending Division (FSL) managers in the Boston area were subject to several fraud allegations, she directed an investigation into the matter,…

unequal treatment between males and females and the imbalanced distribution of the value received for the same work. The inequality gap takes into consideration the wage gap, job opportunities, health outcomes and more. A news article “Global Gender Gap report finds modest improvements” written by Janet McFarland goes into detail about the current position of the gender gap. The following will explore the reasons behind the persistence of this social issue such as household labour…

people or groups. The Difference in Pay Between Genders in Canada One large injustice found in the economic industry is the gap between a woman 's average income and a man 's average income. According to the Statistics Canada data report conducted in 2011, women made an estimated 74 cents for every dollar a man made in relation to full­time income. This is actually better than in 1987 where women were paid only 64 cents for every dollar made by a…

good health, people won’t get a chance to engage in the development process. However, while the physical health was well-known factor of the development, the mental health has been disregarded for a long time. For example, in the Human Development Report 1990, published by UNDP, the introduced measure of the human development was HDI, the human development index, which considers longevity, decent living standards, and knowledge. As it can be seen, the mental health was not one of the factors…

addresses the amount of cash used to acquire assets to receive through sale or disposition of assets, such as purchases and sales of property as well as investments (Greater Washington Society of CPAs, 2015). • Financing activities: the section reports the amount of cash used to settle liabilities or received by incurring liabilities, such as principal repayments of notes payable or capital leases (Greater Washington Society of CPAs, 2015). • Operating activities: the section comprises all…

state of mind, which provides an opinion without any affection from professional judgment. It is contributed mainly by three factors: integrity, objectivity and strength of character. On the other hand, Independence in Appearance shows when financial report users believe that actual independence was achieved. It means that the audit assurance will only be derived when auditors are independent. Beside two types of auditor independence, it is also important to understand major threats that can…

The client’s management is responsible for preparing the financial statements which auditors examine and issue a report, thus providing reliability of the financial statements by users when making economic decisions. The auditors’ report on financial statements and related disclosures for both public and nonpublic entities provides or disclaims an opinion on whether the financial statements and related disclosures are presented in accordance with the Generally Accepted Accounting Principles…

these three scenarios. Third, the auditor’s examination of the going concern assumption is that auditors also have a responsibility in validating management’s going concern as if there was “substantial doubt” that existed or not to if there was to get information on management’s plans to further determine if one still existed as these were under AU 341, SAS, or AU-C 570 that related to going concern. Fourth, that Bor-Yi and Sean Chen talked about was on auditor’s errors of judgment that related…

auditing started to play a big role in the securities market. It is a third party that ensures the financial statements disclosed everything material for investor’s interest. A financial report that had been signed by a CPA firm was the best assurance of the financial report. However, people neglected the auditor’s…

on letting the public know what was going on, then the auditor should use the economic power bested upon them. An auditor can leverage this supposedly uneven relationship with an economic power that is only bestowed upon them. The power to write auditor’s opinion, qualified, and resignation is what helps an external auditor to perform their duties and to maintain certain leverage against a client. One can debate that resignations is not as effective as the other options stated…