Obtain a copy of PCAOB Release No. 104-2016-142. a. What is this PCAOB Release? b. How many
Question:
Obtain a copy of PCAOB Release No. 104-2016-142.
a. What is this PCAOB Release?
b. How many issuer audits did the PCAOB review?
c. How many issuer audits with audit deficiencies are included in the inspection report?
d. Which issuer audits included deficiencies related to business combinations?
e. Which issuer audits included deficiencies related to impairment of goodwill and other intangible audits?
f. Which issuer audits included deficiencies related to other long- lived assets?
g. Identify the audit deficiencies related to long-lived assets for Issuers A and D.
h. Discuss how professional skepticism might relate to the deficiencies that you reviewed for Issuers A and B.
GoodwillGoodwill is an important concept and terminology in accounting which means good reputation. The word goodwill is used at various places in accounting but it is recognized only at the time of a business combination. There are generally two types of...
Step by Step Answer:
a This PCAOB Release is the 2015 Inspection of Ernst Young b 55 c 16 d A B I J e A L O P f D g The audit deficiencies related to longlived assets refers to the following deficiency noted at Issuer A D...View the full answer
Auditing A Risk Based-Approach
ISBN: 978-1337619455
11th Edition
Authors: Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
