Question

Refer to the Professional Judgment in Context feature “Deficiencies in Auditing Debt Obligations and Stockholders’ Equity Accounts: Insights from SEC Releases” and review the panel related to Delphi Corporation. Answer the following questions:
a. What risks of material misstatement were present in the case?
b. What are the auditor’s responsibilities related to auditing retained earnings? What procedures should the auditor have performed?
c. Identify ways in which the audit team appeared to have a lack of appropriate professional skepticism.



$1.99
Sales0
Views27
Comments0
  • CreatedSeptember 22, 2014
  • Files Included
Post your question
5000