ACP AUDITING - RISK BASED APPROACH
10th Edition
ISBN: 9780357195079
Author: JOHNSTONE
Publisher: CENGAGE C
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Question
Chapter 4, Problem 53RSCQ
a.
To determine
Concept Introduction:
Decision Making−It is the process of making choice by identifying the decision, collecting relevant information and choosing possible alternatives.
The ethical dilemma.
b.
To determine
Concept Introduction:
Decision Making−It is the process of making choice by identifying the decision, collecting relevant information and choosing possible alternatives.
The framework that helped in deciding to reveal the mistake.
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Check out a sample textbook solutionStudents have asked these similar questions
a) Describe an ethical dilemma. How does a person resolve an ethical dilemma?
b) Why is there a special need for ethical behavior by professionals? Why does the need for ethical requirements of Auditors differ from other professions?
c) Why is an auditor’s independence so essential?
NB:Please to provide answers question A, B and C
KPMG is the auditing firm for Tech Corporation, a listed computer software company. The audit team assigned
to perform the audit includes an Audit Manager, a Senior Auditor and three Audit Assistants. No member of
the team has updated their knowledge or experience on IT or the business processes of an IT company. Based
on the given scenario answer the following question numbers 29, 30 and 31:
What is the appropriate course of action in the given situation?
O a.
KPMG should file for bankruptcy and close their auditing firm
O b. KPMG should place team members who has updated knowledge and skills in IT business processes
O c. KPMG should file a complaint against Tech Corporation
O d. KPMG should complete the audit engagement with the current audit team
Which ethical principle is violated by an auditor who discloses information for personal gain?
a.
Confidentiality
b.
Objectivity
c.
Competency
d.
Integrity
Chapter 4 Solutions
ACP AUDITING - RISK BASED APPROACH
Ch. 4 - Prob. 1TFQCh. 4 - Prob. 2TFQCh. 4 - Prob. 3TFQCh. 4 - Prob. 4TFQCh. 4 - Prob. 5TFQCh. 4 - Prob. 6TFQCh. 4 - Prob. 7TFQCh. 4 - Prob. 8TFQCh. 4 - Utilitarian theory holds that what is ethical is...Ch. 4 - Prob. 10TFQ
Ch. 4 - Prob. 11TFQCh. 4 - Prob. 12TFQCh. 4 - Prob. 13MCQCh. 4 - Prob. 14MCQCh. 4 - Prob. 15MCQCh. 4 - Prob. 16MCQCh. 4 - Prob. 17MCQCh. 4 - Prob. 18MCQCh. 4 - Prob. 19MCQCh. 4 - Prob. 20MCQCh. 4 - Prob. 21MCQCh. 4 - Prob. 22MCQCh. 4 - Prob. 23MCQCh. 4 - Prob. 24MCQCh. 4 - Prob. 25RSCQCh. 4 - Prob. 26RSCQCh. 4 - Prob. 27RSCQCh. 4 - Prob. 28RSCQCh. 4 - Prob. 29RSCQCh. 4 - Prob. 30RSCQCh. 4 - Refer to the Focus on Fraud feature “Moss Adams...Ch. 4 - Prob. 32RSCQCh. 4 - Prob. 33RSCQCh. 4 - Prob. 34RSCQCh. 4 - Prob. 35RSCQCh. 4 - Prob. 36RSCQCh. 4 - Prob. 37RSCQCh. 4 - Prob. 38RSCQCh. 4 - Prob. 39RSCQCh. 4 - Prob. 40RSCQCh. 4 - Prob. 41RSCQCh. 4 - Prob. 42RSCQCh. 4 - Prob. 43RSCQCh. 4 - Prob. 44RSCQCh. 4 - Prob. 45RSCQCh. 4 - Prob. 46RSCQCh. 4 - Prob. 47RSCQCh. 4 - Prob. 48RSCQCh. 4 - Prob. 49RSCQCh. 4 - Prob. 50RSCQCh. 4 - Prob. 51RSCQCh. 4 - Refer to Exhibit 4.4. Briefly explain the seven...Ch. 4 - Prob. 53RSCQCh. 4 - Prob. 54RSCQCh. 4 - Prob. 55RSCQCh. 4 - Prob. 56RSCQCh. 4 - Prob. 57RSCQCh. 4 - Prob. 58RSCQCh. 4 - Prob. 59RSCQCh. 4 - Prob. 60RSCQCh. 4 - Prob. 61RSCQCh. 4 - Prob. 62RSCQCh. 4 - Prob. 63RSCQCh. 4 - Prob. 64RSCQCh. 4 - KPMG (LO 1, 2, 3) KPMG LLP served as the external...Ch. 4 - Prob. 66FF
Knowledge Booster
Similar questions
- A moral or legal obligation to ensure the safety or well-being of others Could be defined as duty of care. An auditor's duty of care to a client would most likely be breached if the auditor failed to: Select one: a.comply with the Cooperation Act 2001 & all relevant auditing standards. b. Resolve their staffing issues. c. conduct the audit for the cheapest price. d.Prevent & detect earnings of management.arrow_forwardCritically evaluate how the breach of ethics by auditors could contribute to expand the audit expectation gap. Your report should include/address the following concerns: 1. Introduce/analyze ethical aspect of auditors and audit expectation gap. 2. Critically examine how different threats to ethics enlarge the audit expectation gap. 3. Propose ways to minimize the threats to ethics and thus the expectation gap of audits. 4. Determine the current developments and future direction of ethical aspects of auditors, and explain how such developments contribute to safeguard the audit profession as a concluding remarks. Include a cover page, an executive summary, a table of contents and references. You may include an appendix if necessary.arrow_forwardAmjad is an auditor discussing the results of analytical procedures with the management, Amjad should not accept management's explanations at face value, and should obtain corroboratory evidence for the explanations offered. This is an example of O a. Professional skepticism O b. Professional ethics Oc. Conduct of an audit accordance to ISAS O d. Professional judgementarrow_forward
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