ACC318 Project 2

Required information Chapter 04 Problem 4-31 LO 4-6, 4-9 [The following information applies to the questions displayed below.] Management fraud (e.g., fraudulent financial reporting) is a relatively rare event. However, when it does occur, the frauds (e.g., Enron and World Com) can have a significant effect on shareholders, employees, and other parties. The PCAOB's AS 2401, Consideration of Fraud in a Financial Statement Audit, provides the relevant guidance for auditors. Chapter 04 Problem 4-31 Part b LO 4-6, 4-9 b. Select the three conditions that are generally present when fraud occurs: Note: You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Management or other employees have an incentive or are under pressure that provides a reason to commit fraud. Circumstances exist that provide an opportunity for a fraud to be carried…

! Required information Chapter 04 Problem 4-31 LO 4-6, 4-9 [The following information applies to the questions displayed below.] Management fraud (e.g., fraudulent financial reporting) is a relatively rare event. However, when it does occur, the frauds (e.g., Enron and WorldCom) can have a significant effect on shareholders, employees, and other parties. The PCAOB's AS 2401, Consideration of Fraud in a Financial Statement Audit, provides the relevant guidance for auditors. Chapter 04 Problem 4-31 Part c LO 4-6, 4-9 c. Select the items that are most likely to be objectives of the "brainstorming" meeting that is held among the engagement team members: Note: You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. ?Share insights about the entity and its environment and the entity's business risks. ? Provide an opportunity for the team…

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Answer question 8, is it a b c or d

Answer question 7

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31 Which of the following should financial information not be? Group of answer choices Unsubstantiated Reliable Timely Accurate

erd-2020 Fall T x spurs meaning Google Upitan Oregon Trail Map magnetic packag.. Señor Wooly How to Ens Your Board CP1-4 Communication There are two common causes of business and accounting fraud: • A failure of individual character • A culture of greed or ethical indifference within an organization Required: Write a brief memo describing how these two factors could lead to accounting fraud. Thread: Wnte Your response as reguested above, It should be in memo format as cholarly sources to

PLEASE ANSWER NO. 87. Examples of various threats to independence Self-interest  Self-review  Familiarity  Advocacy (2) Intimidation (2) 8. Three (3) categories of safeguards related to the different threats in no. 7 9. Two (2) options of a public accountant when the safeguards in no.8 are not effective to eliminate or reduce threatsPLEASE ANSWER NO. 8

19 Analyze the following: I – Related party is any entity who has the capacity to control or jointly control, or exercise significant control over the reporting entity. II – The chief internal auditor would generally qualify as chief operating decision maker. III – Failure to record the expired amount of prepaid rent expense may understate liabilities. Given these, we can conclude that: Group of answer choices Only statement II is not false. Only statement III is not true. All statements are not true. Only statement I is not false.

MC Qu. 41-25 The Insider Trading and Securities Fraud... The Insider Trading and Securities Fraud Enforcement Act of 1988 subjects more individuals to civil liability for insider trading and grants the Securities and Exchange Commission (SEC) power to award. public) to insider-trading whistle-blowers. (government rewards for acts beneficial to the Multiple Choice O O in-kind transfers finder's fees recoupment certificates bounty payments APR 27 MacBook Air A W 2 Second create at least three different racoarah questions and/or ha rave othacas X . Exit rlly.p ac g L Editor Du

FINANCIAL ACCOUNTING Q. 36

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What is non-IFRS financial information? Discuss how ASIC’s RG230 could be applied to minimise the provision of non-IFRS financial information that could be misleading to investors.

BER 2021 CONFIDENTIALEAB31103_Audit 2 Page 9 of 10Question 5Nurin, Aliah & Co has audited Kinokuyi Publishing Sdn Bhd (KPSB) for several years. Auditdocumentation, including internal control flowcharts as well as sales and cash receipts system,purchasing and payables system and payroll system notes, are accessible from the previousyear's file. You are the audit supervisor of Nurin, Aliah & Co, and you are evaluating thepaperwork documenting KPSB’s purchasing and payables system in preparation for theinterim and final audits for the fiscal year ending 31 December 2021. The company is a bookretailer with twelve locations across the Klang Valley and a central warehouse located in ShahAlam which holds the majority of the company's inventory. Below is an excerpt from theexisting systems notes:Store managers are in charge of placing book orders for their store. Store managers arecurrently unable to request books from any of the other eleven locations. Customers who wantto order books…

G Multiple Choice 1. Lo 8.1 Which of the following would a fraudster perceive as a pressure? A. lack of management oversight B. everyone does it C. living beyond one's means D. lack of an internal audit function O (3.51 MB) 2.10 8.2 Internal control is said to be the backbone of all businesses. Which of the description of internal controls? A. Internal controls ensure that the financial statements published are correct. B. The only role of internal controls is to protect customer data. Internal controls and company policies are important to protect and safeguar company data and are designed to protect the company from fraud. D. Internal controls are designed to keep emplovees from committina fraud agai C. Page 31 1 2 -

ali Jlas als 2 17 Jlguall When the knowledge of the misstatement will affect a decision of a reasonable user of the statement then Misstatement in the financial statements can be considered immaterial a O None of the options are correct.b O Misstatement in the financial statements can be considered material Misstatement in the financial statements can be considered other the material dels kas

Are non-IFRS financial data different from the IFRS financial information? How may RG230 be used to minimize the disclosure of non-IFRS financial information that may be misleading to investors?

! Required Information Ch06 Predecessor-Successor Auditor Communications [LO6-2] Predecessor-Successor Auditor Communications Read the case, then answer the questions that follow. Audit standards require successor auditors to attempt to communicate with the predecessor before accepting an audit engagement. CONCEPT REVIEW: Audit standards require successor auditors to attempt communication with the predecessor auditors. The predecessors must have permission from the previous client before sharing Information with the successor auditors. Predecessor auditors will help successor auditors to determine whether or not to accept an engagement. Part 2 - Concept Check 1. Successor auditors need to communicate with predecessor auditors. 2. accepting the engagement. must ask management to authorize the predecessor auditors to discuss confidential information. 3. If predecessor auditors refuse communication, successor auditors accept the engagement. 4. Communication between predecessor and…