Identify the following users as either external users (E) or internal users (I). FBI and IRS

Q: what are some examples of internal controls? How are internal controls related to the Sarbanes-Oxley…

A: Internal Control: In an organization, internal control is a procedure carried out by the entity's…

Q: Indicate which statements are true and which are false. The primary objective of internal control…

A: Internal control: Internal control is a process which ensures continuous reliability of…

Q: What is the purpose of the following control procedures (i.e., what threats is it designed to…

A: Payroll Checking Account:-It is a separate bank account of a business that is only used for payroll…

Q: What are some of the functions of a state board of public accountancy?

A:

Q: Clarify the difference between an organization's audit committee and its internal audit department.

A: Difference between an organisation's audit committee and internal audit department are the…

Q: As an auditor, how would you audit the following Internal Control Revenue

A: Answer: Auditor is the person who audits the financial statement to present independent opinion. The…

Q: What auditing services do governmental auditors provide?

A:

Q: 2.What is auditor's responsibilities for reporting internal control under Section 404 Sarbanes Oxley…

A: Auditor:- An auditor may be an individual or group of individuals who verifies the books of accounts…

Q: What is EDGAR? Multiple Choice A system designed by the SEC to allow electronic filings. The…

A: Option B is incorrect because EDGAR is a system devised by SEC for electronic corporate filings…

Q: What databases are appropriate for government accounting?

A: The term "Government Accounting" refers to recording & analyzing all income , expenses &…

Q: What is the purpose of the following control procedures (i.e., what threats is it designed to…

A: A payroll register provides the information related to the pay of each employee during each pay…

Q: Describe the Bureau of Internal Revenue.

A: Bureau of Internal Revenue is an institution which acts as an agent to the Finance department and…

Q: 2 Why do predecessor auditors need to obtain the client’s consent to give information to…

A: Auditing:   It is an independent examination of the financial information of an organization to test…

Q: Audits by the federal government have several benefits.

A: The federal government have several benefits will be explained:

Q: (Students should visit the SEC website, www.sec.gov, for supplemental resources.) Why were federal…

A: Managerial accounting:   Managerial accounting is more focused towards analyzing information and…

Q: What are the general steps involved in filing a registration statement with the SEC?

A: Securities Exchange Commission (SEC) is the government agency that governs the working of…

Q: This is a process of evaluating the effectiveness of a client's internal controls in preventing or…

A: INTERNAL CONTROL IS A MECHANISM WHICH IS IMPLEMENTED TO ENSURE THE INTEGRITY OF FINANCIAL AND…

Q: ce of BIR rulings ce of revenue memorandum circula ce of revenue regulations

A: The answer has been mentioned below.

Q: All of the following are objectives of internal control excepta. to ensure accurate and reliable…

A: Internal control: Internal control is a process which ensures continuous reliability of…

Q: General-purpose fi nancial statements are prepared primarily for:a. internal users.b. external…

A:

Q: Name some other types of auditors in addition to external, internal, and governmental auditors.

A: A forensic auditor is a type of auditor other than the external, internal and governmental auditors.

Q: Which organizations are normally exempted from the SEC’s registration requirements?

A: According to the Securities Act 1933, all securities which are issued by companies and their…

Q: IRS agent

A: An IRS agent act on behalf of customers for preparing returns of representations before IRS.

Q: Internally generated evidence held by the client includes: a) bank statements. b) correspondence…

A: The auditor requires to validate the information of the financial statements.

Q: What is EDGAR?a. A system the SEC uses to reject registration statements that do not contain…

A: EDGAR: EDGAR is a system designed to gather electronic data, analyze and retrieve the data.…

Q: Differentiate between Government audit and Commercial audit.

A: Auditing is the process in which a qualified person (known as auditor) conducts an independent…

Q: Compare the purchase and sale of government securities with the purchase and sale of agency…

A: Government Securities are the securities which are often sold by the government. Purchase and sale…

Q: 7. Three subject areas where federal statutes have been implemented to protect the personal data of…

A: "Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Why do GAGAS require a review for compliance with laws and regulations in conjunction with financial…

A:

Q: n the United States, the __________, a government agency, has the legal authority to set GAAP.

A: Financial Accounting Standard board (FASB) is a government body established for the purpose of…

Q: Discuss various other government departments and their functions in cbsa/cfia

A: The CBSA is a Canadian federal agency responsible for federal law agency that is responsible for…

Q: What is the role of commission on aud

A: Fiscal administration is the act of managing incoming and outgoing monetary transactions and budgets…

Q: When was the Muscat Clearance and Depository Company (MCDC) established and what are the most…

A: The detailed information is explained in step 2

Q: Explain why the analysis of legal expense is an essential part ofevery audit.

A: Audit can be defined as the analysis and evaluation process conducted by the auditor who is…

Q: Which office maintains accounts of financial transactions of all national government offices,…

A: Government Accounting is a process of recording, classifying, analysing and communicating all the…

Q: Name the departments, offices, or agencies that were created by the Dodd–Frank legislation.

A: he Dodd-Frank legislation officially became a law in year 2010 that aimed to put restrictions on the…

Q: In addition to obtaining responses to attorney letters, what other procedures can be used to gather…

A: Audit Evidence: The pieces of evidence provided by the audit team to prove their opinion with…

Q: he entry is most likely to be used in recording the payment is

A: Answer

Q: compliance requirements in terms of documenting transactions and reporting .you should list the…

A: Tax invoice refers to the invoice which is vital document as it is not only evidence of supplying…

Q: The Administrative Procedure Act requires Federal Agencies to follow certain procedures to make…

A: The Administrative Procedure Act, which was passed in 1946, specifies how federal agencies may make…

Q: The following are issued by the Commissioner of Internal Revenue, except: a. Revenue Memorandum…

A: Commissioner of Internal Revenue is authorized to issue the following

Q: How do the major provisionsof the Sarbanes–Oxley Actaffect a public company’s auditprocedures?

A: After a prolonged period of corporate scandals (e.g., Enron and Worldcom) in the United States from…

Q: Choose the correct. What is EDGAR?a. A system the SEC uses to reject registration statements that do…

A: EDGAR: EDGAR is a system designed to gather electronic data, analyze and retrieve the data.…

Q: hat are the requirements for government- wide statements on CAFR?

A: Step 1 Governmental financial statements are comply with governmental accounting standards and…