Essay on Interim Financial Information

In 42, the odds were against Mr. Robinson. He was pressured from his team, opponents, the fans. Yet he and his wife had the audacity to know he belonged on the field.

Read the auditor’s report included in the annual report of the company and explain its purpose. Identify the name of the auditing firm.

Compare the primary auditor objectives in auditing historical financial statements to auditing internal controls over financial reporting. Identify at least two (2) objectives that are the most significant in reducing the risk of reporting errors or misstatements in financial statements. Provide a rationale for your response.

Now look at Rosina Townsend who maintained the brothel. Mrs. Townsend’s brothel was a high-end brothel, but her reputation or her word was worth mo more than a piece of dirt in the bottom of your shoe. This was demonstrated the most during the trial. Judge Ogden Edwards spent an entire hour instructing the jury. The judge instructed the jury to weigh all characters involved, victim, accused, and witnesses. He instructed that the prostitutes were not to be believed unless corroborated by respectable individuals. He went as far as to try to establish an alibi for Robinson in respect to visiting the brothel on the night of the murder. If the jury felt Robinson’s guilt was beyond doubt, then to convict him; if not acquit.

) There was a lack of adequate cut-off procedures to ensure the timely recording of certain period-end accruals. This resulted in an audit adjustment of $3,578,000. The benchmark for overall materiality is $3,508,000, I would consider the audit adjustment of $3,578,000 a material misstatement. Control environment, principle 2 the board of directors and management exercise oversight of development and performance of internal controls. Due to the severity and material weakness of lack of adequate cutoff procedures to ensure timely recording of period end accruals. Management and the board of directors should evaluate performance of internal control activities including adherence to standards of conduct and expected levels of competence. In

Assuming that the end result is an unqualified audit report, outline the primary responsibilities of the audit firm after it issues the report in question.

The article does not describe specific acts that he did, but it is safe to say that his acts must have been similar to what Robinson did if he was her acquaintance. The fact that he is only getting 30 years, using “only” as a loose term to compare to Robinson, means this evil man will be on the streets again one day. This cannot happen because then people will think that if they do get caught helping someone do an evil act similar to what happened here that they will one day be able to get out.

Tom Robinson is being accused of raping a white woman and would be sentence to life in jail. It was obvious that both Heck Tate and Bob Ewell had told different stories about how the room looked when they found Mayella in the room. Heck Tate had said the room had only a chair in it and Bob Ewell had said that the room was a mess. Without a doubt that either man is being dishonest. It is undeniably that Tom Robinson could not have hit Mayella.

Life insurance is meant to provide funds to replace a breadwinner's to protect and support dependents. Chad and Haley are dependents, not income providers. Therefore, the purchase of life insurance is unnecessary and not recommended. The Dumonts should use the money they would spend on policies for the children to increase their own coverage.

P2. It is not the case that Jones' conduct is less unforgivable than Smith's conduct (i.e., Jones' conduct is pretty much as inexcusable as Smith's conduct).

The accounting system we use today started in Venice in renaissance period over 520 years ago. The trade business increased hugely during this time and all the financial recordings had to be written down to help people see how their business is doing. During that time in 1494 the first book about was published in accounting by Luca Paciolli and was called “The Collected Knowledge of Arithmetic, Geometry, Proportion and Proportionality”. He was called “The father of Accounting” and most of his described principles have been used up until this day.

The auditor’s responsibility is not to evaluate a client’s business model but to have a sufficient understanding of the entity. An auditor needs a sound and comprehensive understanding of the client’s business and industry to develop valid expectations about financial-statement assertions.

d. “The auditor's reliance on substantive tests to achieve an audit objective related to a particular assertion may be derived from tests of details, from analytical procedures, or from a combination of both. The decision about which procedure or procedures to use to achieve a particular audit objective is based on the auditor's judgment on the expected effectiveness and efficiency of the available procedures. For significant risks of material misstatement, it is unlikely that audit evidence obtained from substantive analytical procedures alone will be sufficient (PCAOB, AS 2305.09).”

Build an emergency fund. It can make all the difference. Low-income families with at least $500 in an emergency fund are better off financially than moderate-income families with less saved up. Learn more about emergency funds here.

Whether or not you call it an emergency or rainy day fund it is all the same.