Question: The SEC criticized Frank Sinopoli for not sending an audit inquiry letter to Geo Securities external legal counsel. Describe the nature and purpose of such

The SEC criticized Frank Sinopoli for not sending an “audit inquiry letter” to Geo Securities’ external legal counsel. Describe the nature and purpose of such a letter. Do you agree with the SEC that Sinopoli should have contacted Geo Securities’ external legal counsel?

Step by Step Solution

★★★★★

3.38 Rating (167 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

AU Section 337 Inquiry of a Clients Lawyer Concerning Litigation Claims and Assessments of the PCAOBs Interim Standards discusses the responsibility o... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

337-B-A-A-P (573).docx

120 KBs Word File

Students Have Also Explored These Related Auditing Questions!

AW 200 ( 41.7 wide-flange beam (see Table E-1(b). Appendix E) is simply supported with a span length of 2.5 m (see figure). The beam supports a concentrated load of 100 kN at 0.9 m from support B. At...

Do you agree with I/O theorists that external factors are more important than internal factors to a firms achieving competitive advantage? Explain both your and their position.

Do you agree with I/O theorists that external factors are more important than internal factors in a firm achieving competitive advantage? Explain both your and their position.

Do you agree with Fiedler's belief that people have one dominant leadership style and cannot change styles? Explain.

In 1980, Frank Sinopoli, a 27-year-old accountant, accepted a job offer from a CPA firm based in Dallas, Texas. Four years later, Sinopoli became a partner with the firm. Perkins, Dexter, Sinopoli &...

31. Which of the following statements concerning sample size is true? a. An increase in the tolerable occurrence rate, other factors remaining unchanged, increases sample size. b. The higher the...

Review case 4.1 Enron Corporation and Andersen, LLP . Complete the following Required questions related to this case, 1-5, in approximately 75 to 90 words. QUESTIONS TO BE ANSWERED: Review case 4.1...

Summary of the case. Clifford Hotte had a problem. His company had come up short of its earnings target. For the fiscal year ended April 30, 1995, financial analysts had projected that Health...

Help me in my homework,I need minimum 95% and I have only one attempt where I can score ,once I submit the answers can't change choose wisely answers Question 1 of 45 Which of the following...

Here is the link from Chegg for the case study regarding these questions....

10-K Ford Motor Company Review Ford Motor Company's Form 10-K for 2012. Explain the purpose of a company?s 10-K and how it interprets the firm?s financial strength. Write a description of three...

Abigail invests money in an account paying a simple interest of 8% per year. If no money will be added or removed from the investment, what should she multiply her current balance by to find her...

Suppose a 2 million kg meteor is initially basically at rest in the asteroid belt, at a distance of 4.0 x10% km from the Sun. As it falls toward the sun it collides with the Earth (ending up 1.5 x...

What are some shortcomings of the stages model of policymaking

Dee Publications has been in operation for more than 30 years and went public in the early1980s. The company has had net income in every year except one since it went public. The majority of Dees...

Following are several items that may have an effect on the Retained Earnings account. Issuing common stock Cash dividend Stock dividend Stock split Purchasing treasury stock Selling treasury...

Edinbrough Enterprises uses a perpetual inventory system. At year-end, Edinbrough takes a physical inventory and adjusts its records to agree with the physical inventory results. Following is...

Refer to the data on the school buses in the Buena School District. a. Assume the distribution of the maintenance cost for the three bus manufacturers does not follow a normal distribution. Conduct a...

Tamara Zeevah opened a hair salon recently, but did not maintain a formal set of accounting records during the ï¬rst week of her businesss operations. Instead, she simply maintained a...

During a session, a financial planner points out to the client that information on insurance policies has still not been received from the clients life insurance agent. The client becomes nervous,...

The second member of the hearing panel who voted to acquit Zane was not convinced the available evidence demonstrated "beyond a reasonable doubt" that Zane was guilty of the charge filed against him....

Describe how an allegation of academic misconduct similar to the charge filed against Zane Corbin would be dealt with at your institution. Identify the strengths and weaknesses of the system in place...

Do you agree with Deloitte's assertion that Adams had no "substantive role" in the 2008 and 2009 Caesars audits? Defend your answer.

4-23 William recently graduated from NFA University. While at NFA, William took out a $50,000 student loan. His loan requires him to make monthly payments for a 10-year period. (a) If the simple...

The Robinson Company has the following current assets and current liabilities for these two years. ________________________________________________________2010______________2011___ Cash and...

Use the approximate doubling time formula (rule of 70) for the case described below. Discuss whether the formula is valid for the case described. Gasoline prices are rising at a rate of 0.3% per...