Auditor's report

governance failures/weaknesses of PCH PLC which affected to arise such failures/frauds within PCH PLC. Throughout this discussion it is expected evaluate the board structure & board balance, Chairman’s role as the CEO, board committees, external auditor’s responsibility, agency dilemma, behavior of shareholder favoritism and significant changes in the board of directors when company began to fail. Board Structure & Board Balance When listing the PC house PLC the board…

Health care organizations are known to value assets on their historical or acquisition costs. What types of asset valuation methods are useful for finances, stocks, bonds, tax returns, and financial statements? Response 5 As a potential CFO, valuing assets is a crucial need for not-for-profit health care organizations (NFP). A well-managed health care organization with auditors, management, and CFO would ensure the assets, stocks, bonds, tax returns, and financial statements are being valued…

violated the law? How does the accountant’s position on the company’s employment hierarchy affect that responsibility, if at all? What responsibility does an auditor of a public company have if he or she discovers illegal acts by the client? Does the auditor’s position on his or her firm’s employment hierarchy affect this…

Audit program. B. Communication with predecessor auditor C. Auditor's engagement letter/Audit Notification. . There are three main stages of a typical audit engagement: D. Report on Reportable Conditions/Management Letter E. Auditor's communication with the audit committee. 1. Review documentation on the Mandate and Delegation of Authority for the a. Name the three stages in chronological…

the serving term. The four main functions of the PCAOB in overseeing these auditors consist of the following: registration, inspection, enforcement and setting standards. The PCAOB has the authority to register accounting firms which conduct audit reports for issuers, brokers, and dealers. Even accounting firms not located in the United States but still provide audit services for any U.S-based issuer, broker, or dealer are also subject to rules set by the PCAOB. In turn, quality control, audit,…

Marshall and Wyatt, CPAs is an independent auditor for the publically traded company Interstate Land Development. Interstate has been preparing and filing there own tax returns since Marshall and Wyatt have been auditing their company. While the SEC was processing the registration statement Marshall and Wyatt received a subpoena directing them to turn over all the working papers relating to Interstate for the year 20X2-20x5. They initially refused to turn them over because they did not prepare…

The Bout, Pets Company’s disclosures for the current year includes information on the following five operating segments: pet Supplies, Veterinary, Grooming, Lodging and Training. In this memorandum we discuss the FASB appropriate operating segments disclosures that company should adopt to present the “True and Fair View” of the financial statements. Moreover, according to the given information, the company is currently registered as a public listed company in 2015 and before registration the…

The auditors had much blame and liability for the incident, since they accepted some “drinks” and other sorts of bribes by Minkow to not proceed when the “weird” financial information was analyzed by the auditors. The auditor’s main responsibilities were too keep any unethical behavior done by the company away from being speculated. The issues would have been taken cared off before growing into a huge dilemma, but the auditors decided to remain quiet and not analyze the…

has been a perpetrator of two predicate offenses within a 10 year period. Some of these offenses includes mail fraud, bribery, and security law violations. In our case, the CPA discovered bribery before the IPO but omitted this information in the report. If the CPA acted with scienter and intentionally omitted the material information, then it is a case of securities law violations and, the first know offense by the CPA. However, the auditor must take part in the fraud operation, in order to be…

“sufficient appropriate audit evidence”. In AU-C 230, the objective of the auditor is to plan and perform the audit work in order to obtain sufficient appropriate audit evidence to reduce the audit risk. Therefore, based on GASS, the audit opinion on the report can’t be absolute assurance and this match with Ms. Stitt’s testimony about the concept of reasonable assurance. Also, I believe that Ms. Stitt’s has clarified the auditor responsibility to obtain a reasonable assurance as described in…