If a public accounting firm says it always follows the rule that requires adherence to FASB pronouncements
Question:
If a public accounting firm says it always follows the rule that requires adherence to FASB pronouncements in order to give a standard unmodified auditors’ report, it is following a philosophy characterized by
a. The imperative principle.
b. The utilitarian principle.
c. Virtue ethics.
d. Reliance on members’ collective conscience.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 83% (6 reviews)
a Correct Imperative means that a rule is always followed b Incorrect Utili...View the full answer
Answered By
Charles Okinda
students should give all the instructions concerning the challenge that they face. they will get an immediate response because I am always online.
4.90+
753+ Reviews
1480+ Question Solved
Related Book For
Auditing and Assurance Services
ISBN: 978-0077862343
6th edition
Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws
Question Posted:
Students also viewed these Auditing questions
-
If a PA says she always follows the rule that requires adherence to CPA pronouncements in order to give a standard unqualified audit report, she is following a philosophy characterized by a. The...
-
Please identify a public accounting firm that completes audits, and research what kinds of audits they do. Find out anything that you can about their audit department, and share your findings here....
-
A public accounting firm requires the following activities for an audit: a. Draw a network for this project. b. Make a forward pass and a backward pass to determine ES, LS, EF, and LF. c. What are...
-
Suppose that Canada produces two goods: lumber and fish. It has 18 million workers, each of whom can cut 10 feet of lumber or catch 20 fish each day. a. What is the maximum amount of lumber Canada...
-
How are net capital losses of individuals treated for tax purposes? How are net capital losses of corporations treated for tax purposes?
-
Five samples of a ferrous-type substance are to be used to determine if there is a difference between a laboratory chemical analysis and an X-ray fluorescence analysis of the iron content. Each...
-
What are the essential elements of the Product Liability Directive of the European Union?
-
In the original Gorman Construction Company problem, we found the shortest distance from the office (node 1) to the construction site located at node 6. Because some of the roads are highways and...
-
1. 20 The full symbols of atoms of elements R, T, X, Y and Z are 2R, 31, 30, 34X, and 5Z respectively 15 15 164, Which one of the following is an isotope of Y A. R B. T C. X D. Z 2. The electronic...
-
A concrete company transports concrete from three plants to three construction sites. The supply capacities of the three plants, the demand requirements at the three sites, and the transportation...
-
Under Sarbanes- Oxley and PCAOB rules, ensuring that the auditor is independent in appear-ance is the responsibility of a. The public accounting firm. b. Senior management. c. The audit committee. d....
-
Which of the following agencies issues independence rules for the auditors of public companies? a. Financial Accounting Standards Board (FASB). b. Government Accountability Office (GAO). c. Public...
-
Below are the nal exam scores of twenty introductory statistics students. 57, 66, 69, 71, 72, 73, 74, 77, 78, 78, 79, 79, 81, 81, 82, 83, 83, 88, 89, 94 Create a box plot of the distribution of these...
-
Rely on the videos and lesson information. Develop a PowerPoint presentation that addresses a public company financial statement. Select financial ratios of interest to supply chain managers. Create...
-
When considering all of the parts of the balance of payments for a nation, what item might you want to look at to determine if a nation has a trade surplus or deficit?
-
1. How do the risks associated with network systems compare with the risks associated with centralized IT functions? 2. What is the relationship between tolerable misstatement, inherent risk, and...
-
Assume you are interested in assessing how soon a company might need to make significant capital expenditures to replace property, plant, and equipment. What financial statement ratio would you use...
-
Emergency procedures, protective equipment, and proper methods of containment and cleanup are listed under what is the section of the Safety Data Sheet?
-
How is Figure 25.3 used to predict the type of decomposition for unstable (radioactive) isotopes? Data given in Figure 25.3 Number of neutrons 140 130 120 110 100 90 80 70 60 50 40 30 20 10 0 0...
-
Complete the equations for the following equilibria and calculate Keq where the Keq expression includes [HO]. Be sure to enter Keq in proper scientific notation. (a) ammonia (acting as a base) reacts...
-
Professor Wayne Campbell recently lectured on adjusting entries. As he did so, he prepared T-accounts on a marker board to illustrate the key points he was making. As he was erasing his illustrations...
-
If the _____ is less than the _____ , the audit team would conclude that the account balance is fairly stated. a. Projected misstatement; tolerable misstatement. b. Tolerable misstatement; projected...
-
If the upper limit on misstatements is calculated at $ 17,800 and the tolerable misstatement is $ 15,000, what is the minimum amount of adjustment necessary for the audit team to issue an unmodified...
-
Alice Rathermel audited LoHo Companys inventory using sampling. She examined 120 items from an inventory compilation list and discovered net overstatement of $ 480. The audited items had a book...
-
A retirement home in Florida costs $ 2 0 0 , 0 0 0 today. Housing prices in Florida are increasing at a rate of 4 % per year. Joe wants to buy the home in 8 years when he retires. Joe has $ 2 5 , 0 0...
-
1. (55 points) Answer the following questions about the steady state system shown below. (Don't worry about starting from 1st Law - use common engineering assumptions.) a) Is it appropriate to use...
-
Describe at least three ways that Guidance Software responds to and helps to manage changes in our technology - driven world? Describe what forecasting involves and list three limitations to...
Study smarter with the SolutionInn App