Question: The question is from Auditing and Accounting Cases by Jay C. Thibodeau and Deborah Freier (Fourth Edition) Case 3.1 , Question 2 (Enron: Understanding the

The question is from "Auditing and Accounting Cases" by Jay C. Thibodeau and Deborah Freier (Fourth Edition)

Case 3.1 , Question 2 (Enron: Understanding the Client's business and Industry)

Consult Paragraphs 5-7 of PCAOB Auditing Standard No.13. Comment about how your understanding of the inherent risks identified at Enron (in Question 1) would influence the nature, timing, and extent of your audit work at Enron.

Case 3.2 , Question 4 (The Baptist Foundation of Arizona: Related Party Transactions)

Consult Paragraph 7 of PCAOB Auditing Standard No. 9. Consider the planning phase for the audit of BFA's trust department operations. As an auditor, what type of evidence would you want to collect and examine to determine whether BFA was meeting the U.S Treasury regulations for nonbank passive trustees of IRA accounts?

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