On February 17, 2014, a CPA completed all the evidence gathering procedures on the audit of the financial statements for the Buckheizer Technology Corporation for the year ended December 31, 2013. The audit is satisfactory in all respects except for the existence of a change in accounting principles from FIFO to LIFO inventory valuation, which results in an explanatory paragraph on consistency. On February 26, the auditor completed the tax return and the draft of the audit report. The final audit report was completed, attached to the financial statements, and delivered to the client on March 7. What is the appropriate date on the auditor’s report?
Answer to relevant QuestionsYou have been asked to make a presentation in your Inter- national Business class about how globalization is impacting the auditing profession. In preparation, you met with your auditing professor and discussed these ...Identify two examples of acts or behavior by CPAs that would be considered discreditable to the profession under Rule 501.Analytical procedures consist of evaluations of financial information made by a study of plausible relationships among both financial and nonfinancial data. They range from simple comparisons to the use of complex models ...The following questions concern persuasiveness of evidence. Choose the best response.a. Which of the following types of documentary evidence should the auditor consider to be the most reliable?(1) A sales invoice issued by ...Explain what is meant by basic precision. How is it determined?
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