Case studies in compilation and review. (Auditing)

Topics:
Audits
Tags:
Auditing,
Certified Public Accountant,
Finance,
Financial Accounting,
Financial Planning,
Financial Statement,
Financial Statements,
New York State Society Of Certified Public Accountant
Source:
New York State Society of Certified Public Accountants

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Overview: Four auditing cases are examined to identify and clarify some of the issues confronting CPAs engaged to compile or review financial nonpublic companies' financial statements in compliance with the AICPA's Statements on Standards for Accounting and Review Services. The first case tackles the issue of the type of report that CPAs should issue if the auditee's CEO and chief financial officer refuses to sign a representation letter. The second case has to do with auditors who are asked to prepare 'draft' financial statements without any accompanying report. In the third case, the CPAs must decide how they will account in the financial statements for the auditee's costs arising from its leaking gasoline tanks. The fourth case deals with the reporting responsibilities of CPAs once they begin to have doubts about the auditee's ability to continue as a going concern.

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Format: HTML | Date: Apr 1994 | Pages: 1

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