Auditing and Internal Controls Discussion Questions(4 questions)

Dec 6th, 2014
DreamIt
Category:
Accounting
Price: $40 USD

Question description

"Internal Controls" Please respond to the following:

1.  From the e-Activity, examine the importance of the audit committee oversight related to the quality of the internal controls of an organization. Analyze the audit committee’s responsibilities regarding risk assessment and internal control monitoring. Indicate whether or not the audit committee is the best to perform the function.

2. Contrast the opinion provided by the independent auditor concerning management’s assessment of internal controls over the financial reporting system with the audit opinion on the financial statements in general. Argue for providing both a qualified opinion over the financial reporting system and an unqualified opinion on the financial statements.


"Apple, Inc."  Please respond to the following:

3.  From the case study, in 2009, the FASB issued a ruling related to income recognition from multiple element sales involving software to various stakeholder groups. Evaluate the impact of Apple’s retrospective restatement of its financial statements resulting from FASB’s ruling. Provide support for your rationale.

4.  From the case study, examine the influence of both Apple’s reported deferred revenue and the lobbying by Apple executives on FASB’s ruling. Indicate your agreement or disagreement with Apple’s attempt to influence FASB’s ruling.

**  Discussion questions -  200-250 words per question is satisfactory.  Please provide citation information for references used.  Must be 100% original work. 

Tutor Answer

(Top Tutor) Daniel C.
(997)
School: University of Virginia
PREMIUM TUTOR

Studypool has helped 1,244,100 students

5 Reviews


Summary
Quality
Communication
On Time
Value
ashleyisgod
Nov 30th, 2016
" Top quality work from this guy! I'll be back! "
Molly_Moon
Nov 7th, 2016
" AMAZING as always! "
Hemapathy
Oct 16th, 2016
" all I can say is wow very fast work, great work thanks "
BlueOcean
Oct 2nd, 2016
" Awesome! Exactly what I wanted. "
kevin12622
Sep 23rd, 2016
" Goes above and beyond expectations ! "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1823 tutors are online

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors