M4 Case PCombs

If you had the opportunity to interview Rita Crundwell, what would you ask her and why? 2. Should the external auditors have been able to identify the false invoices? 3. What was the most shocking piece of evidence you learned about the Crundwell case?

This discussion will consist of an interview with an industry expert in the field of auditing. You have two options: Select an expert from the list given to you by your instructor or Select an expert of your choice If you select an expert from the list, verify the mentor with your instructor to make sure that every student is not interviewing the same person. Alternatively, if you choose an expert, confirm your selection with your instructor. Pick any three of the following interview questions for your interview (interviews can occur over email or phone): What are the in-demand skills that an auditor must have to be successful?  Have you ever personally found fraud as an auditor? How did you handle the situation? What do you like most about your career as an auditor? How are ChatGPT and similar AI tools affecting the auditing profession? What professional certifications would you suggest an auditor earn? What internal controls have you found to be the most effective? What types of…

Answer the following from Chapter 7 of the textbook (write a one page response for each question):  Discussion Question 37:  Explain why Benford's Law is useful to auditors in the detection of fraud.

Describe one professional experience in which you used evidence as the basis for decision making and one experience in which you made a decision without evidence for support. For each of the situations described, explain how the use of evidence (or the lack of it) impacted the outcome of your decision making. Be specific in terms of positive and negative impacts.

a) What is the role and character of forensic accounting and its relationship to the legal system including the legal, ethical and professional obligations of forensic accountants. b) How does the forensic accountant examine and investigate indicators of fraudulent activity and demonstrate his/her knowledge of investigative processes and techniques, and their application.  c) What are the techniques in evidence collection and evaluation.   NB: Please to provide answers for question a, b & c  Please to provide answers to the questions in 3-4 paragraphs Please to site the references

You were recently hired by the CPA firm Honson & Hansen. Before you start working, the firm requires that you participate in the first-year staff training course. The instructor asks you to prepare answers for the following questions: a. How is audit evidence defined? b. How is the collection of audit evidence related to management assertions? c. What are the two key characteristics of audit evidence that an auditor must consider when evaluating the quality of the evidence? Describe the meaning of each of these characteristics in the context of auditing.

In your role as an accountant, conduct a comprehensive evaluation of the relationship between the journal, ledger, and trial balance. Furthermore, elaborate on the methods you would employ to identify errors within the trial balance as well as the subsequent process for rectifying those errors. Use relevant examples to substantiate your arguments.

Four friends who are auditing students have a discussion. Evans says that the primary responsibility for the adequacy of disclosure in the financial statements and footnotes rests with the auditor in charge of the audit field work. Mercy says that the partner in charge of the engagement has the primary responsibility. Abdul says the staff person who drafts the statements and footnotes has the primary responsibility. Peter contends that it is the client’s responsibility.

Audit, Fraud, Or Forensic Accounting Introduce yourself to your peers by sharing something unique about your background. Explain how you expect this course will help you move forward in your current or future career. This course covers forensic accounting, so it's important to establish the differences between an audit, a fraud examination, and a forensic accounting engagement. Think about the fraud conviction of Elizabeth Holmes, as described in the video, "Elizabeth Holmes Found Guilty in Theranos Fraud Trial." Then respond to the following: Imagine you are assigned to the Theranos case. Write the first five questions you would ask if you were an auditor, the first five questions as a fraud examiner, and the first five as a forensic accountant. After your questions, explain why the questions and approaches are different among the three roles. Be sure to respond to at least one of your classmates' posts.

Which of the following most likely would be included with the client’s confirmation letter, when an auditor decided to confirm customers’ account balances rather than individual invoices.? Select one: Question 28Answer a. A client-prepared letter reminding the customerthat a nonresponse will cause a second request tobe sent. b. An auditor-prepared letter explaining that a nonresponse may cause an inference that the accountbalance is correct. c. An auditor-prepared letter requesting the customer to supply missing and incorrect informationdirectly to the auditor. d. A client-prepared statement of account showingthe details of the customer’s account balance.

List A represents the types of opinions the auditor ordinarily would issue, and List B represents a portion of theneeded report modifications — whether an additional paragraph will be included. For each situation, select one(1) response from List A and one (1) from List B. Select the best answers for each item the action the auditorwould normally take. The types of opinions in List A and the report modifications in List B may be selected once,more than once, or not at all. Assume the following:• The auditor is independent.• The auditor previously expressed an unmodified opinion on the prior year’s financial statements.• Only single-year (not comparative) statements are presented for the current year.• The conditions for an unmodified opinion exist unless contradicted by the facts.• The conditions stated in the items to be answered are material, unless otherwise indicated.• Each item to be answered is independent of the others.• No report modifications are to be made except in response…

Is it allowed to send copies of the auditor's earlier paperwork to the client? If yes, are there any special criteria that auditors should review prior to delivering the client's documentation? At least three things should be mentioned.