ACC 562 Reading feeds the Imagination/Uophelpdotcom

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ACC 562 Reading feeds the Imagination/Uophelpdotco
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ACC 562 Final Exam Guide

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• 1.Developing an understanding of the client's
  business and industry is essential to proficiency
  as discussed in the general standards of GAAS.
  (Points 4) True False2. Ratio
  analysis only involves a year-to-year comparison
  of account balances. (Points 4) True
  False3. Control is considered to be part of
  corporate governance. (Points 4) True
  False
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ACC 562 Midterm Exam Guide

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• Question 1
• CPAs are licensed by the
  
• Question 2
• The Certified Internal Auditor
  program is administered by the
  
• Question 3
• The objective of an operational audit
  is to
• Question 4
• As it relates to an audit,
  materiality is
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ACC 562 Week 1 DQs

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• Analyze the need for unbiased financial
  reporting. Based on your analysis, determine at
  least two (2) drivers that may cause financial
  reporting to be biased. Provide a rationale to
  support your response.
• Analyze the audit opinion formulation process and
  suggest at least one (1) improvement to the
  process to strengthen audit opinions. Provide a
  rationale to support your suggestion.
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ACC 562 Week 2 DQs

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• Analyze the changes made to corporate governance
  rules since the implementation of the
  SarbanesOxley Act of 2002. Based on your
  analysis, formulate an opinion on whether or not
  these changes are sufficient in preventing
  financial fraud. Provide a rationale for your
  response.
• Debate it! Audit committees are an effective tool
  for detecting and preventing fraud. Provide a
  rationale for your response.
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ACC 562 Week 3 Assignment 1 Madoff Securities (2
Papers)

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• This Tutorial contains 2 Different Papers
• Determine the regulatory oversight that was in
  place while the Ponzi scheme was operating, and
  speculate on the main reasons why they did not
  discover the scheme.
• Assume you are an auditor for a firm that had
  10 million dollars invested in Madoff
  Securities.
• Determine the fundamental audit procedures that
  you should have applied to this investment.
• Predict the way in which a peer review of
  Friehling and Horowitz would have uncovered the
  scheme related to Madoff Securities.
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ACC 562 Week 3 DQs

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• From the case study, use the ethical framework to
  propose a course of action that you would take
  concerning the audit. Provide a rationale for
  your response.
• Imagine that you work for an audit firm and the
  firm selected you to assess its auditor
  independence and the potential threats to the
  firm. Determine at least two (2) potential
  threats to auditor independence and recommend one
  (1) strategy for the firm to eliminate or
  mitigate those threats you determined.
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ACC 562 Week 4 DQs

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• From the first e-Activity, determine at least two
  (2) AICPA Professional Conduct principles that
  are most likely to be violated. Provide a
  rationale to support your response.
• From the second e-Activity, recommend at least
  two (2) additional responsibilities that the
  audit committee should take in order to improve
  its effectiveness in detecting or preventing
  financial fraud. Provide a rationale to support
  your recommendation.
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ACC 562 Week 5 DQs

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• Imagine you work for an auditing firm. Your most
  recent task is to determine whether or not your
  firm should bid to perform the auditing services
  of a public company. Determine the fundamental
  kind of information that you need in order to
  make an informed decision as to whether or not to
  bid on the audit. Provide a rationale to support
  your response.
• From the case study, analyze the key risk areas
  associated with an audit of Lincoln Federal
  Savings and Loan. Next, recommend at least two
  (2) risk areas that should be included in the
  audit plan. Provide a rationale to support your
  recommendation
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ACC 562 Week 6 DQs

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• From the e-Activity, support or critique the idea
  that the Committee of Sponsoring Organization of
  the Treadway Commission (COSO) transition would
  strengthen internal controls over financial
  reporting in publicly traded companies. Provide a
  rationale to support your response.
• From the case study, determine the fundamental
  control deficiencies associated with the credit
  function. Next, propose at least one (1) control
  improvement that the credit department management
  could make in the process. Provide a rationale to
  support your response.
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ACC 562 Week 7 Assignment 2 Cardillo Travel
Systems, Inc. (2 Papers)

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• This Tutorial contains 2 Different Papers
• Review the Cardillo Travel Systems case, located
  in Chapter 6 of your textbook.
• Write a four to five (4-5) page paper in which
  you
• Explain the Securities and Exchange Commissions
  rationale to charge Cardillo executives with each
  of the following violations
• a. making false representations to outside
  auditors
• b. failing to maintain accurate financial records
• c. failing to file prompt financial reports with
  the SEC
• d. violating the insider trading provisions of
  the federal securities laws
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ACC 562 Week 7 DQs

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• From the e-Activity, determine the main reasons
  why several members of top management in Phar-Mor
  perpetrated the financial statement fraud. Next,
  recommend one (1) strategy that the auditors
  might have taken to detect or prevent the fraud.
  Provide a rationale to support your
  recommendation.
• From the case study, analyze the financial data
  as presented. Next, choose at least one (1)
  pattern within the data that appears to be
  inconsistent, and propose one (1) strategy that
  one could use to audit this pattern. Provide a
  rationale to support your response
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ACC 562 Week 8 DQs

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• From the e-Activity, analyze the auditors
  responsibility to determine if a company can
  continue as a going concern. From your analysis,
  propose at least two (2) key factors that the
  auditor should consider when determining an
  entitys ability to continue as a going concern.
  Provide a rationale to support your proposal.
• From the case study, analyze the inquiry letter
  sent by C.R. Brown. Next, determine at least one
  (1) omission that you believe occurred within the
  letter, and suggest one (1) way to improve the
  letter so that Consolidate ds outside attorney
  may corroborate the information in the case.
  Provide a rationale to support your response
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ACC 562 Week 9 DQs

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• From the case study, determine the main potential
  ethical dilemmas. Next, use the seven (7) steps
  in the ethical decision-making framework to
  recommend one (1) course of action you would take
  in order to avoid the ethical dilemmas. Provide a
  rationale to support your recommendation.
• 1. Identify the ethical issue
• 2. Determine who are the affected parties and
  identify their rights
• 3. Determine the most important rights
• 4. Develop alternative courses of action
• 5. Determine the likely consequences of each
  proposed course of action
• 6. Assess the possible consequences including
  an estimation of the greatest good for the
  greatest number
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ACC 562 Week 10 Assignment 3 Freescale
Semiconductors, Inc (2 PPT)

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• This Tutorial contains 2 Different PPT
• Review the Freescale Semiconductor case, located
  in Chapter 9 of your textbook.
• Prepare a twelve to twenty (12-20) slide
  PowerPoint presentation with speaker notes in
  which you
• 1. Give your opinion as to whether or not
  additional laws and harsher penalties on
  financial fraud can eliminate or mitigate
  financial fraud. Support the rationale.
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ACC 562 Week 10 DQs

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• From the case study, evaluate the quality of
  REDTOPs internal audit function. Based on your
  evaluation, recommend at least two (2) changes
  that you would make in order to improve the
  quality of REDTOPs internal audit function.
  Provide a rationale to support your response.
• From the case study, give your opinion as to
  whether or not your external audit engagement
  team could use REDTOPs internal audit function
  in another fashion, as opposed to merely relying
  on existing internal audits in order to perform
  the overall audit of REDTOP Sports Company.
  Recommend one (1) alternative to using the work
  that the internal audit has already yielded as
  part of your external audit. Provide a rationale
  to support your response.
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ACC 562 Week 11 DQs

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• Discuss one (1) way in which you anticipate using
  what you have learned from this course in your
  current or future career. Provide one (1)
  specific example to support your response.
• Speculate on one (1) specific auditing area
  presented in this course that you believe may be
  eliminated, added, or changed in the next ten
  (10) years. Provide a rationale to support your
  response.
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ACC 562 Reading feeds the Imagination/Uophelpdotco
m

• For more course tutorials visit
• www.uophelp.com