Describe the nature of CPA firms,what they do, and their structure

Q: Define accounting, and describe the roles of private andpublic accountants.

A: Accounting is a process of identifying business transaction, analyzing, measuring, recording, and…

Q: Briefly explain how regulatory agencies and legalsystems affect corporate governance.

A: Corporate governance is the set of rules and regulations controlling the operations of a company.

Q: What are the rules with respect to CPA firm names?

A: CPA firm name helps the users helps the users and public the ability to identify a firm. This helps…

Q: What is a certification authority, and what are the implications for the accounting profession?

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Q: discuss the three ways of resolving the agent problem in public company

A: Principal agent problem arise when there is a conflict between interest of principal and agent. This…

Q: What do the ASX Corporate Governance Principles say about having an internal audit function?

A: Internal audit is the auditing process of the internal processes of a company such as accounting,…

Q: Agency theory is related to behavior of principle and agent. Explain agency theory by giving an…

A: Agency theory is defined as the principal theory, which used to explain as well as resolve the…

Q: Describe accounting's internal function in organisations.

A: Introduction: Accounting is transmitting financial data to users such as investors, individuals, and…

Q: Explain The Corporate Organization and its types.

A: Corporation: Corporation is a form of business organization which is created and organized as per…

Q: a) What is a social contract and how does it relate to organisational legitimacy? b) Explain two…

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Q: Describe the audit documentation review process in a public accounting firm.

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Q: Describe the provisions of the Sarbanes–Oxley Act as they relate to the creation and…

A: The Sarbanes-Oxley Act is a federal law established to uphold and ensure strict auditing and…

Q: hat is the difference between internal corporate governance to external corporate governance in…

A: Internal corporate governance: Internal corporate governance controls monitor activities and then…

Q: Management's expert refers to an individual or organization, whose work is used by the entity to…

A: Management experts are the individuals who possess expertise other than accounting or auditing and…

Q: Are accountants and auditors moral agents of corporations and society? Explain.

A: Moral responsibility means a liability of an individual to perform tasks in a moral or ethical…

Q: HOW IS THE ACCOUNTANCY PROFESSION BEING REGULATED? EXPLAIN

A: An accounting career consists of getting ready monetary statements, auditing organization…

Q: What term is used to describe broadly to the manner in which an organization is governed or managed…

A: Corporate governance refers to the set of rules, procedures, systems, processes designed for the…

Q: Who should prepare a social audit for the firm?

A: The report about what organization is doing for social issues is called social audit. An…

Q: Identify and explain the key models of Corporate Governance

A: There are mainly three models of corporate governance : 1. The Anglo-US model 2. The German model 3.…

Q: should corporate governance practices be included as part of legislation or is it preferable to…

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Q: Management accounting focuses primarily on providing data for: Oa. internal uses by managers Ob.…

A: There are different types of accounting such as financial accounting, management accounting, cost…

Q: Who must register with the Public Company Accounting Oversight Board?

A: Public Company Accounting Oversight Board refers to the non-profit organization which regulates…

Q: What is corporate governance?

A: Corporate Governance is a framework that includes rules, processes, guidelines, laws to govern the…

Q: Explain how business ethics relate to internal control.

A: Internal control guarantees that management follows legal guidelines and sets the tone for the…

Q: Define corporate governance

A: It is the basic set of principles and rules using which a corporate organization is governed…

Q: Explain the purpose of the Public Company Accounting Oversight Board.

A: Auditing:   In auditing, auditors verify the correctness and fair presentation of financial…

Q: d ho

A: Agency relationship : An agency connection can be understood as the fiduciary relationship in which…

Q: State the allowable forms of organization a CPA firm may assume.

A: A CPA firm can assume any of the following form of organization.  (1) A propritorship concern (2) A…

Q: Identify the different entities that makeethics rules for CPAs and public accountingfirms.

A: Ethics:     “That branch of philosophy which is the systematic study of reflective choice, of the…

Q: What is a social contract and how does it relate to organisational legitimacy? and Explain two ways…

A: A social contract refers to a way in which a business interacts with society. As per social contract…

Q: Managing business risk is the responsibility of the: * O Customers O Management Public Company…

A: The business risk is referred to as some situations, events, policies that can prevent a business…

Q: What is the SEC’s relationship to the Public Company Accounting Oversight Board?

A: The Sarbanes-Oxley Act created the Public Company Accounting Oversight Board to supervise the…

Q: Why do we need internal, external and government auditor in a company?

A: An auditor is a person who is authorized to review and verify the correctness of financial documents…

Q: What are the role of accountants in the organization?

A: Role of accountants in an organization: 1. Collecting and recording accurately all the financial…

Q: Describe the organization of public accounting firms and identify the variousservices that they…

A: A small business might use a public accounting firm to prepare the monthly or quarterly financial…

Q: Describe Corporate Gvernance?

A: Corporate governance is the set of rules, procedures, and processes that guide and control a firm.…

Q: firms must audit their resources at the corporate level

A: Resources are the available economic items of the firm with which it can operate business.

Q: What is the significance accounting course to  “Governance, Business Ethics, Risk Management, and…

A: Answer: Accounting has been worldwide followed practice to record day to day transactions. It has…

Q: What are the “Corporate Legal Person Traders” Explain those in details with your own words.

A: A legal entity may be defined as a body incorporated which has their own existence. These legal…

Q: what is the importance of an organizational culture and a corporate culture?

A: Organizational culture is regarded as the set of values, expectations, and practices by which the…

Q: Explain an agency problem for a corporation with examples, and identify means by which the firm can…

A: An agency problem is a common problem existing in firms which arises when a conflict of interest…

Q: Who is the CFO, and where does this individual fit into the cooperate hierarchy? What are some of…

A: CFO is the company’s Chief Financial Officer as CFO is a senior executive who does the supervision…

Q: Identify and describe the major corporate governance models, using a suitable example in each…

A: The major corporate governance models, using a suitable example in each instance:

Q: How governance can be used in the Corporate Governance? Give appropriate examples.

A: Governance is the system by which an organisation is controlled and operates. It is mechanism by…

Corporate Ethics

Ethics refers to the moral values and principles that guide an individual. Corporate ethics refers to the moral behavior of a company and its employees while conducting business. Business ethics is another name for corporate ethics. Business ethics reflects the purpose of doing the business. Business ethics is the distinction between what is right and wrong in the workplace and the selection of the right set of actions. Every corporate entity follows business ethics to a large extent in order to survive and compete successfully in the market. Corporate entities that strictly adhere to business ethics gain the trust of their stakeholders and thus gain more customers. An organization follows compliance, i.e., following certain business policies, rules, procedures, and practices to deal with the problem arising from the business environment. Business ethics also ensures that they meet compliance requirements as it was connected with the activities of an organization.