Do you believe that the PCAOB overstepped its regulatory role and responsibilities by beginning a dialogue regarding the possible need for mandatory audit firm rotation? Why or why not? Do you agree with U.S. Representative Garrett that the PCAOB is not a policy-making body? Explain.
Answer to relevant QuestionsDeloitte maintained that it was not appropriate for PCAOB inspection teams to “second-guess” the “reasonable judgments” of skilled professionals. Do you agree? Defend your answer.Do you believe Deloitte & Touche should have approved Livent’s decision to record the $12.5 million “naming rights” payment as revenue during the third quarter of 1997? Defend your answer. What broad accounting ...Identify audit procedures, other than a walk- through test that might have resulted in Grant Thornton discovering that Fred Greenberg was tampering with JGI’s delivery receipts.Identify the primary audit objectives that auditors hope to accomplish by confirming a client’s year-end accounts receivable. Explain the difference between “positive” and “negative” confirmation requests and ...Did the choice of the 6.75 percent discount rate in 2002 have a material impact on GM’s financial statements? Defend your answer.
Post your question