ACCT 444 Week 7 Homework
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
<strong>ACCT</strong> <strong>444</strong> <strong>Week</strong> 7 <strong>Homework</strong><br />
http://hwminute.com/downloads/acct-<strong>444</strong>-week-7-homework/<br />
<strong>ACCT</strong> <strong>444</strong> <strong>Week</strong> 7 <strong>Homework</strong><br />
<strong>ACCT</strong>/<strong>444</strong><br />
<strong>Week</strong> 7 <strong>Homework</strong><br />
Chapter 3: 3-27<br />
1. Identify and explain any items included in “Other Information” that need not be<br />
part of the auditor’s report.<br />
2. Explain the deficiencies in Patel’s report as drafted.<br />
Chapter 3: 3-32<br />
Identify deficiencies in the staff accountant’s tentative report that constitute departures<br />
from the generally accepted standards of reporting.<br />
Chapter 24: 24-26<br />
1. Distinguish between contingent liabilities and commitments and explain why both<br />
are important in an audit.<br />
2. Describe how Johnson’s testing in phases I-III of the audit of notes payable might<br />
help her obtain evidence about the four presentation and disclosure objectives.<br />
3. Identify three useful audit procedures for uncovering contingent liabilities that<br />
Johnson will likely perform in the normal conduct of the audit, even if she had no<br />
responsibility for uncovering contingencies.<br />
4. Identify three other procedures Johnson is likely to perform specifically for the<br />
purpose of identifying undisclosed contingencies.<br />
Chapter 24: 24-28<br />
1. Evaluate Little’s approach to sending the attorney letters and her follow-up on the<br />
responses.<br />
2. What should Little do about each of the letters?
Chapter 25: 25-22<br />
1. Beyond inquiries and analytical procedures, what are the accountant’s<br />
responsibilities in performing review service engagements?<br />
2. Describe what you should do in each of the preceding situations, assuming each one<br />
is material.