1.Identify at least four professional and/or regulatory organizations that help assure audit quality. Discuss how each contributes to better audit work, and monitors the auditing profession.
- An auditor assesses the identified fraud risks after taking into account an evaluation of the client’s programs and controls. With specific examples, discuss how an auditor might respond to the results of the assessment of higher fraud risks in a client’s organization?
3.Distinguish between entity-wide controls and transaction controls. Provide and discuss at least three examples of each type with emphasis on how they might ensure better audit work.
4.Discuss the causes of action that an auditor might face under the three major aspects of law impacting auditor liability and the defenses an auditor might raise in rebutting an action brought against her or her firm.
5.
Using the Paypal financial statements(2017and 2018) as a background, identify, describe and provide examples of the five major assertions inherent in financial statements.
Sample Solution
