Course # ACCT644-1503B-01
If you need to looks at the group portion for unit 4 group
project discussion to write the audit report, then you can login to the discussion
part of the group project.
Apa FORMAT WRITING OF PAPER WITH PROPER CITATION, SUCH AS
Smith, 2015, p. 230 or Smith, 2015, para 3).
Reference must have 3
During the audit, the following occurred:
management restricted the auditors by not allowing them to audit Overall
Manufacturing Company's financial statements. Management changed the inventory
accounting from first in, first out (FIFO) to last in, first out (LIFO) and did
not accurately revalue the inventory. The lead auditor was the cousin of Bovar
Company’s chief financial officer (CFO).
The American Institute of Certified Public Accountants (AICPA)
professional standards provide uniform wording and format for the audit report.
Consider the above events and write a 1-page audit report for Harrison that
includes all 7 parts of a standard audit report, as follows:
- Report title
- Audit report address
- Introductory paragraphs
- Scope paragraph
- Opinion paragraph
- Name of the Certified
Public Accountant (CPA) firm
- Audit report date
At the end of the audit, the audit team completed the fieldwork and
signed the auditor report on March 20, 2014. Harrison sold some of assets in
the rectangular heat exchangers line on March 31, 2014. The team is concerned
about this event transaction occurring after December 31, 2013 that may affect
the 2013 financial statements. Discuss the following questions in a 1-page
- What general types of
subsequent events require consideration and evaluation by the management
and the audit team?
- Describe the financial
statement effect of the subsequent event that is described above.