One on One

Knowledge about risks related to the company evaluated as part of the auditor 's client acceptance and retention evaluation; and the relative complexity of the company 's operations. ( Auditing Standard No. 9 //. (n.d.).

U.S. Securities and Exchange Commission. (2007). Audit committees and auditor independence. Office of the Chief Accountant. Retrieved from http://www.sec.gov/info/accountants/audit042707.htm America

Assigned as the Officer-in-Charge of a Section with responsibility for the oversight of staff and all aspects of performance audits, including reviewing and approving completed audits; recommending and ensuring compliance with internal policies, standards, and procedures; assessing, developing and implementing training needs and programs. May conduct or act as a project manager for the most highly sensitive audits.

Elder, A. A., Beasley, M., & Elder, R. J. (2014). Auditing and assurance services (15th ed.). Upper Saddle River, NJ: Pearson.

Arens, A. A., Elder, R. J., & Beasley, M. S. (2013). Auditing and Assurance Services. Old Tappan, NJ: Pearson Education.

The purpose of this memo is to address the topics of inherent risk, control risk, and detection risk. We will do this by addressing an accounting policy stated in the company’s 10-K report. We will discuss risks associated with the accounting policy, recognize company controls, and test those controls. Substantive analytics and tests of details will follow. Lastly, we will discuss fraud and extended procedures to detect fraud. To end, we will conclude by outlining the main points and emphasizing our audit plan.

Arens, A. A., Elder, R. J., & Beasley, M. S. (2006). Auditing and Assurance Services (11th Ed.). Prentice Hall, Upper Saddle River, NJ: Pearson Prestice

As an Internal Control Office team member, I support the Internal Control Office (ICO) audit liaison role for all communication between the Agency Office Chief Financial Officer (OCFO), the JSC OCFO, JSC Procurement Office, and various JSC organizations. The audit liaison role requires understanding the flow and dependencies between finance, procurement, and human resources in satisfying multi-departmental audit requests. As an Internal Control Office team member, I am responsible for understanding and communicating customers’ needs during audits, which are both crucial and time sensitive. Communication is an essential factor that is practiced on a routine basis, I support JSC various financial and internal control audits

As a firm, we have an uncompromising dedication to quality and excellence in everything we undertake. We participate in the American Institute of Certified Public Accountants (AICPA) Peer Review Program, which covers our audit and accounting practices. This program requires our Firm undergo an examination of our quality control policies and procedures every three years by an independent public accounting firm. Because of our dedication to quality, we have selected a premier peer review firm for this evaluation and have received “pass without deficiency” (the highest achievable rating) on each of our examinations including the review completed earlier this year. See Appendix A for a copy of the most recent Peer Review Letter.

PThe Public Company Accounting Oversight Board (PCAOB) has the authorization and duty to inspect auditing firms to make sure they are in compliance with law, rules, and professional standards in connection with the auditing reports of public companies. Some deficiencies noted by the PCAOB in the inspection reports of Deloitte & Touche LLP, KPMG, BDO LLP, and PricewaterhouseCoopers LLP are discussed in the following paper.

Company Accountant (CA) who manages the accounts department including 11 other staff members, produces monthly management accounts, approves payments to suppliers

Under the audit and examination committee, they have to regulatory and oversight the conduct risk of the entity, in addition, they have to disclose the security risk, operational risk and technology risk. Moreover, audit and examination committee required to oversight the internal audit function, external auditor performance and disclosure framework for financial and risk reports prepared for the board, management, and third party agencies. The committee should provide greater centralization of review and oversight and augment reporting to the board of the type of issues that contributed to breakdown in Wells Fargo’s sales culture.

In charge of the oversight of authoritative and budgetary frameworks including fund, bookkeeping, data innovation, human resource management,

Arens, A. A., Elder, R. J., & Beasley, M. S. (2012). Auditing and assurance services:

Discuss the assessment of control risk for audit clients that are public companies. If Lakeside were to become a public company, what impact would that have on Abernethy and Chapman 's assessment of Lakeside 's control risk and the evaluation of internal control? Objective – Internal control both in the public reporting context. Section 404 audits.