ACCT 444 DeVry Week 1 Complete Work Latest

ACCT 444 DeVry Week 1 Complete Work
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ACCT 444 DeVry Week 1 Complete Work Latest
ACCT 444 DeVry Week 1 Discussion 1
Compare and Contrast Standards (graded)
Let's begin our discussion by identifying what the differences and similarities are, in audits of financial statements,
compliance audits, and operational audits.
ACCT 444 DeVry Week 1 Discussion 2
Beekman Office Supply—Making Ethic Decisions (graded)
Read the facts relating to the Beekman Office Supply case, which are presented in the
attached.next.ecollege.com/ec/courses/58092/CRS-zzz-4755444/Documents/iep_beekman_script.rtf">script. Will Gail
be in danger of a violation of the code of professional responsibility if she agrees to proceed as directed by the
engagement partner?
ACCT 444 DeVry Week 1 Homework Latest
Solve the following questions.
Chapter 1: 1–18
Chapter 2: 2–19
Chapter 4: 4–22 and
Chapter 26: 26-25
Name your document, and include your first and last initials of your name. For example, if your name is Jane Smith,
the file name will be ACCT444_W1_HW.
Submit your assignment to the Dropbox, located at the top of this page. For instructions on how to use the Dropbox,
read these step-by-step instructions.
See the Syllabus section "Due Dates for Assignments & Exams" for due date information.
ACCT 444 DeVry Week 1 Quiz Latest
Question 1 : (TCO 3) The organization that is responsible for providing oversight for auditors of public companies
is called the _____
Auditing Standards Board.

American Institution of Public Accountants.
Accounting Oversight Board.
Public Company Accounting Oversight Board.
Question 2. Question: (TCO 1) Which one of the following is not a field work standard?
Adequate planning and supervision
Due professional care
Understand the entity and its environment, including internal control
Sufficient appropriate audit evidence
Question 3. Question : (TCO 1) An independent auditor must have which of the following?
A pre-existing and well-informed point of view with respect to the audit
Technical training that is adequate to meet the requirements of a professional
A background in many different disciplines
Question 4. Question : (TCO 1) Any service that requires a CPA firm to issue a report about the reliability of an
assertion that is made by another party is a(n) _____
accounting and bookkeeping service.
attestation service.
assurance service.
tax service.
Question 5. Question : (TCO 1) Which of the following statements is incorrect regarding the SEC's partner
rotation rules?
All audit partners must rotate off the audit engagement after 5 years.
Small firms may be exempted from the partner rotation requirement.
The lead and concurring partners are subject to a 5-year time out period.
Other audit partners are subject to a 2-year time out period.
Question 6. Question : (TCO 3) The concept of materiality would be least important to an auditor when
considering the
adequacy of disclosure of a client's illegal act.
discovery of weaknesses in a client's internal control.
effects of a direct financial interest in the client on the CPA's independence.
decision whether to use positive or negative confirmations of accounts receivable.
Question 7. Question : (TCO 3) An auditor strives to achieve independence in appearance to
maintain public confidence in the profession.
be in a position to offer other services to the client.
comply with the generally accepted accounting principles.
maintain a biased mental attitude.
Question 8. Question : (TCO 3) Several months after an unqualified audit report was issued, the auditor
discovered the financial statements were materially misstated. The client’s CEO agrees that there are misstatements,
but refuses to correct them. She claims that confidentiality prevents the CPA from informing anyone.

The CEO is correct and the auditor must maintain confidentiality.
The CEO is incorrect, but because the audit report has been issued, it is too late.
The CEO is correct, but to be ethically correct the auditor should violate the confidentiality rule and disclose the error.
Question 9. Question : (TCO 1) Which of the following statements is correct concerning an auditor's
responsibilities regarding financial statements?
An auditor may not draft an entity's financial statements based on information from management's accounting system.
The adoption of sound accounting policies is an implicit part of an auditor's responsibilities.
An auditor's responsibilities for audited financial statements are confined to the expression of the auditor's opinion.
Question 10. Question : (TCO 1) Which of the following items impairs independence under U.S. ethics standards
but does not necessarily impair independence under the IFAC Code of Ethics for Professional Accountants?
An immaterial direct financial interest in an audit client
Employment at a client of an immediate family member of the engagement partner in a key accounting position
The auditor also provides internal audit outsourcing services
Contingent fee arrangements for audit engagements