“information”-- CPAs’ traditional stock in trade. CPAs can enhance quality by assuring users about the reliability and relevance of information, and these two features are closely related to the familiar credibility-lending products of attestation and audit services. “Context” is relevance in a different light. For assurance services, improving the context of information refers to improving its usefulness when targeted to particular decision makers in the surroundings of particular decision problems.
Chapter 1 SOLUTIONS FOR EXERCISES AND PROBLEMS 1.47 Audit, Attestation, and Assurance Services Students may encounter some difficulty with this matching question because the Special Committee on Assurance Services (SCAS) listed many things that heretofore have been considered “attestation services” (long before assurance services were invented). As a result, we believe that this question is a good vehicle for discussing the considerable overlap between attestation and assurance services.
of the New Scheme Objectives and Expected Performance Outcomes of Each Part PART 1 1.1 1.2 1.3 1.4 Financial Accounting Fundermentals Business Management Economics Management Information Systems PART 2 2.1 2.2 2.3 2.4 Quantitative Tools in Business Audit and Internal Review Business and Corporate Law Principles and Practice of Taxation PART 3 3.1 3.2 3.3 3.4 Financial Reporting Public Sector Accounting Cost and Management
Additional Cases for the Course The case readings have been developed solely as a basis for class discussion. The case readings are not intended to serve as a source of primary data or as an illustration of effective or ineffective auditing. Reprinted by permission from Jay C. Thibodeau and Deborah Freier. Copyright © Jay C. Thibodeau and Deborah Freier; all rights reserved. 1••• ( Case 61 ® Enron Enrori’s First Few Years hi~ 1985 Enron had assets along the three major stages of the supply
fraud and auditor legal liability USE OF CASE This case vividly illustrates the important role of trust, reputation, and confidence in corporate America, since the fall of both Enron and Andersen resulted from the loss of these critical elements. Because the Enron/Andersen debacle involves one of the largest bankruptcies and perhaps the single most significant audit failure in U.S. history, the level of student interest in this case is high. Thus, the case provides an excellent venue for discussion
iii The Journal of Accounting Vol. 1 No. 1 March, 2009 THE EFFECT OF AUDIT ON CORPORATE SUSTAINABILITY, GROWTH AND DEVELOPMENT By J. R. A. Adefiranye Abstract For profitability and liquidity, companies need adequate finances. Finance stakeholders (that is, shareholders, creditors and other financial lenders) are the providers