Study sets matching "auditing"

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Study sets matching "auditing"

Audit
Unqualified with Explanatory Language
Modified wording
Explanatory paragraph
Items that require an explanatory para…
Modified wording or explanatory paragraph
needed to report the amount of work performed by another audi…
needed for these situations:... - Reference to ICFR audit opinio…
Material:... - Change in an accounting principle... - Change in rep…
Unqualified with Explanatory Language
Modified wording or explanatory paragraph
Modified wording
needed to report the amount of work performed by another audi…
7 terms
Audit
Components of Quality Control
Rule 201... General standard
Rule 301... Confidential Client Info
General Standards (GAAS)
-leadership responsibilities for quality... -relevant ethical re…
-professional competence... -due professional care... -planning and…
A member in public practice shall not disclose any confidenti…
1. The auditor must have adequate technical training and prof…
Components of Quality Control
-leadership responsibilities for quality... -relevant ethical re…
Rule 201... General standard
-professional competence... -due professional care... -planning and…
50 terms
Audit
audit method of inquiry
Need and purpose of audits
AICPA
PCAOB
1. Opinion on fair presentation of financials... 2. Financial st…
Require for Public Companies... Private Company - Various reason…
- private... - sets auditing standards
created in 2003 by Congress in Sarbanes-Oxley Act of 2002... -Pr…
audit method of inquiry
1. Opinion on fair presentation of financials... 2. Financial st…
Need and purpose of audits
Require for Public Companies... Private Company - Various reason…
Audit
Why do banks or insurance companies no…
Information asymmetry
Information risk
Why does an entity need an audit?
They are sources of debt financing, information asymmetry exi…
one party has more information about the true financial posit…
Risk that the information circulated by a company's managemen…
Better loan terms, approval to get a loan, an audit can provi…
Why do banks or insurance companies no…
They are sources of debt financing, information asymmetry exi…
Information asymmetry
one party has more information about the true financial posit…
Audition
Physiology
Neurophysiology
Receptor
Receptive Field
physical/ chemical phenomenons involved in activities of life
Physiology of Nervous System
Cells receiving stimuli
Place in periphery that "drives" the neuron
Physiology
physical/ chemical phenomenons involved in activities of life
Neurophysiology
Physiology of Nervous System
audit
Definition of Auditing
Reasons for Auditing
ISAs (International Standards on Audit…
Qualifications and Conduct of Audit
Auditing is a process by which a competent, independent perso…
Remoteness of the Information... Bias and Motives of Management…
adopted as Canadian Auditing Standards (CASs) effective Decem…
The examination should be performed and the report prepared b…
Definition of Auditing
Auditing is a process by which a competent, independent perso…
Reasons for Auditing
Remoteness of the Information... Bias and Motives of Management…
AUDIT
Attestation
Assurance
Info asymmetry
Substantive tests
...
...
...
Detect monetary errors. Ex: Teat of transactions and balances
Attestation
...
Assurance
...
53 terms
Audition
Air molecule compression waves
Tissue vibration and compression
Liquid compression waves
Nervous transmission
Acustical
Mechanical
Hydronic
Electrical
Air molecule compression waves
Acustical
Tissue vibration and compression
Mechanical
19 terms
Audit
Assurance
Assurance Services
Attestation Engagement
Attestation
The lending of credibility to information.
Independent professional services that improve the quality of…
The provision of an opinion on subject matter of an assertion…
The lending of credibility to assertions made by a third party.
Assurance
The lending of credibility to information.
Assurance Services
Independent professional services that improve the quality of…
Audit
Qualifications of auditor
Clarity standards
Unconditional requirements
Presumptively mandatory requirements
- Possess appropriate qualifications... - Apply professional ske…
Standards to make GAAS easier to understand/apply for non pub…
requirements auditor must comply with in every instance it ap…
Auditor expected to comply these requirements in every instan…
Qualifications of auditor
- Possess appropriate qualifications... - Apply professional ske…
Clarity standards
Standards to make GAAS easier to understand/apply for non pub…
18 terms
Audition
Amplitude
Frequency
Range / tone
Timbre
Provides volume of sound
Provides pitch of sound
The complexity of the sound when mixed with multiple waves of…
Quality/ clarity of sound
Amplitude
Provides volume of sound
Frequency
Provides pitch of sound
Audition
Sound waves
Amplitude
Decibel
External auditory canal
Alternative pressure waves in the air... -mechanical force
How high is the wave... -loudness
Measure of wave amplitude... -Db
"Meatus"... -Focuses sound waves
Sound waves
Alternative pressure waves in the air... -mechanical force
Amplitude
How high is the wave... -loudness
Audition
Loudness
Pitch
Timbre
Pinna
Function of sound wave intensity... - Conveyed via alterations i…
Frequency of vibration measured in hertz
- Fundamental Frequency. Perceived basic pitch of the sound.…
Captures, funnels, and amplifies sound into the ear canal
Loudness
Function of sound wave intensity... - Conveyed via alterations i…
Pitch
Frequency of vibration measured in hertz
43 terms
Audit
Assurance services
Attestation services
Exogenous assurance demand
Key attributes in our economy
Independent professional services that improve the quality of…
CPA practitioner is engaged to issue a written report that ex…
demand for assurance is imposed as a result of outside interv…
- Complexity (quality)... - Consequence... - Asymmetric information…
Assurance services
Independent professional services that improve the quality of…
Attestation services
CPA practitioner is engaged to issue a written report that ex…
13 terms
audition
frequency range
intensity range
inner hair cell
outer hair cell
20-20,000 Hz
0-120 dB
each one is innervated by an afferent fiber of the auditory n…
each one is innervated by efferent fibers of auditory nerve.…
frequency range
20-20,000 Hz
intensity range
0-120 dB
12 terms
AUDIT
Substantive procedures
Professional skepticism
predecessor auditor requirement
those charged with governance
1. Test of details... 2. Substantive Analytical Procedures
an attitude that includes a questioning mind and critical ass…
auditor is required to REQUEST management authorize the prede…
normally be the board of directors (or equivalent) that is ch…
Substantive procedures
1. Test of details... 2. Substantive Analytical Procedures
Professional skepticism
an attitude that includes a questioning mind and critical ass…
30 terms
Audit
300
320
330
450
Planning
Materiality
Procedures in Response to Assessed Risks and Audit Evidence
Evaluation of Misstatements
300
Planning
320
Materiality
76 terms
Audition
Sound
Frequency
Amplitude
3 main parts of the ear
compressions and expansions of air or water
the number of compressions per second (Hz)... Related to pitch
the energy of the sound... how high the waves are
Outer, middle, inner
Sound
compressions and expansions of air or water
Frequency
the number of compressions per second (Hz)... Related to pitch
6 terms
The Audition
patient
pianist
rehearsed
blunders
Able to endure delays without anger or complaints
A person who is skilled at playing the piano
practiced to get ready for a play
careless or clumsy mistake
patient
Able to endure delays without anger or complaints
pianist
A person who is skilled at playing the piano
23 terms
audit
Things to take away from chapter 1 & 2
PCAOB doesn't care about
10 Basic Standards TIP SIE WACE
Assurance
assessing that assists, liabilities, and se exist and the com…
private corporations
1. adequate Training... 2. Independence in mental attitude... 3. du…
the lending of credibility to information
Things to take away from chapter 1 & 2
assessing that assists, liabilities, and se exist and the com…
PCAOB doesn't care about
private corporations
21 terms
audition
frequency
intensity
audition
outer ear
speed of vibration...pitch
"strength" of vibration...loudness
Reception of vibrating air particles (created at a source) by…
captures and channels to middle; connects to canal. Capture a…
frequency
speed of vibration...pitch
intensity
"strength" of vibration...loudness
170 terms
Audit
purpose of an audit
preparation and fair presentation of f…
the auditor is responsible for...
reasonable assurance is obtained about…
to provide financial statement users with an opinion on wheth…
1. identification of the applicable financial reporting frame…
expressing an opinion on the financial statements based on th…
the financial statements are free from material misstatement,…
purpose of an audit
to provide financial statement users with an opinion on wheth…
preparation and fair presentation of f…
1. identification of the applicable financial reporting frame…
5 terms
Audition
Primary Cortex
Secondary Cortex
Association Cortex
-receptors... -thalamic relay nuclei... -pri…
receives input from thalamic relay nuclei, first cortical pro…
receives most inputs from primary sensory or other secondary…
receives input from more than one sensory system, integrates…
From sensation to perception, sensory systems are organized l…
Primary Cortex
receives input from thalamic relay nuclei, first cortical pro…
Secondary Cortex
receives most inputs from primary sensory or other secondary…
Audition
Frequency
Intensity
Localization of Sound in vertical plane
Outer Ear
Wavelengths/s... -Physical... Pitch... -Experience ... -Hertz
-Amplitude ... physical ... -Loudness... experience ... -decibels
Based on reflections from pinna ... -Direction and location of s…
Function... -To capture, focus, & filter sound... Consist of:... Pinna…
Frequency
Wavelengths/s... -Physical... Pitch... -Experience ... -Hertz
Intensity
-Amplitude ... physical ... -Loudness... experience ... -decibels
52 terms
Audit
unqualified
qualified
adverse
Modifications
management's assertions are fairly presented in the audit
sufficient evidence or assertions fairly presented except for…
assertions are not fairly presented; F/S depart from GAAP... man…
...
unqualified
management's assertions are fairly presented in the audit
qualified
sufficient evidence or assertions fairly presented except for…
14 terms
Audit
Existence/Occurrence
Rights/Obligations
Completeness
Valuation or Allocation
Do the assets really exist? Did the recorded sales transactio…
Does the company really own the assets? Are related legal res…
Are the financial statements complete? Were all transactions…
Are accounts valued correctly? Are expenses allocated to the…
Existence/Occurrence
Do the assets really exist? Did the recorded sales transactio…
Rights/Obligations
Does the company really own the assets? Are related legal res…
15 terms
Audition
Amplitude
Loudness
Frequency
Pitch
intensity of sound wave. (lightning produces sound waves of g…
sensation related to amplitude but not identical to it.
the number of compression per seconds, measured in Hz. how of…
related aspect of perception. Higher frequency sounds are hig…
Amplitude
intensity of sound wave. (lightning produces sound waves of g…
Loudness
sensation related to amplitude but not identical to it.
7 terms
Audition
Hearing
Cochela
Loudness
Sound Localiza in Space
Air molecules make sound waves and the sound waves.... air mo…
In inner ear, looks like a snail; hair cells are receptors of…
Number of hair cells activated
When you hear something; where you hear it from due to differ…
Hearing
Air molecules make sound waves and the sound waves.... air mo…
Cochela
In inner ear, looks like a snail; hair cells are receptors of…
7 terms
Audit
PCAOB
SEC
AICPA
State Regulatory Board
Public Company Accounting Oversight Board. Estab because of S…
Oversees the PCAOB and approves standards. Requires reporting…
Auditing Standards Board, originally set standards. Still Est…
CPAs licensed in a state- required to fulfill individual stat…
PCAOB
Public Company Accounting Oversight Board. Estab because of S…
SEC
Oversees the PCAOB and approves standards. Requires reporting…
14 terms
Audition
acoustical transduction
frequency (pitch)
wavelength
intensity (loudness)
conversion of sound waves into neural impulses in the hair ce…
•the dimension of frequency determined by the wavelength of s…
•the distance from the peak of one wave to the peak of the ne…
•amount of energy in a wave, determined by the amplitude, rel…
acoustical transduction
conversion of sound waves into neural impulses in the hair ce…
frequency (pitch)
•the dimension of frequency determined by the wavelength of s…
48 terms
Audition
Audition
sound
amplitude
loudness
our sense of hearing
periodic compressions of air, water, or other media
the heights and subsequent intensity of a sound wave
the perception of the sounds wave (amplitude is only one fact…
Audition
our sense of hearing
sound
periodic compressions of air, water, or other media
Audition
is sound
auditory system
sound
"if a tree falls in the forest & no on…
a) strictly the product of an external stimulus (ex. falling…
can translate sound waves (ex. that falling tree produces) in…
is the result of our interpretation of waves
psychological point of view: falling tree would produce sound…
is sound
a) strictly the product of an external stimulus (ex. falling…
auditory system
can translate sound waves (ex. that falling tree produces) in…
17 terms
AUDITION
sounds recognizable to the ear
the three perceptual dimensions of sound
the three physical dimensions of sound
sound entering the ear
vibrations of air between 30 and 20,000 times per second
pitch, loudness, and timbre
frequency, amplitude, complexity
pinna (external ear) --> tympanic membrane --> middle ear (vi…
sounds recognizable to the ear
vibrations of air between 30 and 20,000 times per second
the three perceptual dimensions of sound
pitch, loudness, and timbre
23 terms
audition
loudness
pitch
timbre
pinna -> ear canal -> tympanic membran…
perceptual property of amplitude:
perceptual property of frequency:
perceptual property of complexity
pathway from pinna to auditory nerve
loudness
perceptual property of amplitude:
pitch
perceptual property of frequency:
13 terms
Audition
1
2
3
4
Hi. Hey Hi. Wow. All Right. Nice Place. Nice, uh, nice theatre.
Good Vibes. Yowsa me Yesirree. Toy boat, toy boat, toy boat,…
Now. . . Let's see here. For my. . . can you hear me? Can you…
O.K., so we're all here. Well, I mean, you're there and I'm h…
1
Hi. Hey Hi. Wow. All Right. Nice Place. Nice, uh, nice theatre.
2
Good Vibes. Yowsa me Yesirree. Toy boat, toy boat, toy boat,…
45 terms
Audition
sound
frequency
amplitude
Outer ear
compression and expansion of air molecules
the number of compressions per second, related to pitch.... -hig…
the energy of the sound, how high the sound waves are... -Relate…
-called the pinna... -Structure of flesh and cartilage responsib…
sound
compression and expansion of air molecules
frequency
the number of compressions per second, related to pitch.... -hig…
Auditions
Selecting the Monologue:
Length of Material:
Appearance:
Vocal Awareness:
-Find material you can be cast in today... -Find material that i…
-fully embrace the audition guidelines provided by the produc…
-show yourself as a professional... -Wear simple, attractive clo…
-warm up your voice (at home, in the car, at the audition loc…
Selecting the Monologue:
-Find material you can be cast in today... -Find material that i…
Length of Material:
-fully embrace the audition guidelines provided by the produc…
25 terms
Audition
Invariance (object constancy)
Specificity
Sound
Frequency
what each object shares with other members of the category (e…
what is specific to each object (ex. your dog's bark)
audible variations in air pressure (movement of air molecules)
number of compressed air molecules that pass by our ears each…
Invariance (object constancy)
what each object shares with other members of the category (e…
Specificity
what is specific to each object (ex. your dog's bark)
70 terms
Audition
Sound
Frequency
Amplitude
Parts of ear (the ear)
compressions & expansions of air/water - pure tones vs comple…
# of compressions per second (hz) - related to pitch
energy of sound/how high waves (db) - related to volume
outer ear: contains pinna... middle ear: tympanic membrane... inner…
Sound
compressions & expansions of air/water - pure tones vs comple…
Frequency
# of compressions per second (hz) - related to pitch
58 terms
audition
pitch
hertz (Hz)
loudness
timbre
a perceptual dimension of sound; corresponds to the fundament…
cycles per second
a perceptual dimension of sound; corresponds to intensity
a perceptual dimension of sound; corresponds to complexity
pitch
a perceptual dimension of sound; corresponds to the fundament…
hertz (Hz)
cycles per second
21 terms
Audition
Primary Sensory Cortex
Secondary Sensory Cortex
Association Sensory Cortex
Malleus, Incus, Stapes
receives input from the thalamic relay nuclei, first cortical…
most inputs are from primary sensory and secondary regions, s…
inputs from more than one sensory system, integrates signals…
What are the middle ear bones?
Primary Sensory Cortex
receives input from the thalamic relay nuclei, first cortical…
Secondary Sensory Cortex
most inputs are from primary sensory and secondary regions, s…
44 terms
Audition
What is sound?
How does sound travel?
Tuning fork
Characteristics of sound
-Pressure waves generated by the vibration of an object again…
-Vibrating particles in throat, that vibrates particles next…
-Sound wave impulses from movement of tongs ... -Every time the…
-Tone... -Loudness... -Purity
What is sound?
-Pressure waves generated by the vibration of an object again…
How does sound travel?
-Vibrating particles in throat, that vibrates particles next…
35 terms
Audit
SQC 1
SA 200
SA 210
SA 220
Quality control for firms that perform Audit and review of Hi…
Overall objectives of Independent Auditor and the conduct of…
Agreeing the terms of Audit Engagement
Quality Control for an audit of financial statements
SQC 1
Quality control for firms that perform Audit and review of Hi…
SA 200
Overall objectives of Independent Auditor and the conduct of…
5 terms
Audition
Interview
Warm up
Exercise Teaching
Obervation of Client
1. Interview overview of session... 2. Paperwork explained and…
1. Explain benefits of warming up... 2. Clear Demonstration and…
1. Explain exercise- target muscle group, benefit of exercise…
1. Observe from multiple angles... 2. Confirm absence of pain…
Interview
1. Interview overview of session... 2. Paperwork explained and…
Warm up
1. Explain benefits of warming up... 2. Clear Demonstration and…
106 terms
Audit
Independence is violated when:
Attest engagement term
Immediate family
Close relative
Mutual or conflicting interest... Audits his or her own work... F…
Individuals participating in the attest engagement including…
Spouse or equivalent and dependents
Immediate family, plus a parent, sibling or non dependent child
Independence is violated when:
Mutual or conflicting interest... Audits his or her own work... F…
Attest engagement term
Individuals participating in the attest engagement including…
35 terms
Audit
Auditor's Responsibility... REPPORTS CRAME
Going Concern - Procedures... ADMITS
Going Concern - Conditions and Events…
Updating Prior Opinions - EoM/OM Parag…
R → Responsibility of Auditor... E → Express an opinion on the F…
A → Analytical Procedures... D → Debt Compliance... M → Minutes... I →…
F → Financial Difficulties... I → Internal Matters... N → Negative…
D → Date of auditor's previous report... O → Opinion type previo…
Auditor's Responsibility... REPPORTS CRAME
R → Responsibility of Auditor... E → Express an opinion on the F…
Going Concern - Procedures... ADMITS
A → Analytical Procedures... D → Debt Compliance... M → Minutes... I →…
Audit
Letter of Representation (3)
Management letter (2)
Contingent Liabilities (2)
Final Evidence Accumulation (2)
written from the client to the auditor, required , auditor ge…
written from the auditor to the client, optional, contains su…
different from an actual liability (ex: A/P), bc with an actu…
wrapping up loose ends in the audit, have a disclosure checkl…
Letter of Representation (3)
written from the client to the auditor, required , auditor ge…
Management letter (2)
written from the auditor to the client, optional, contains su…
11 terms
audit
materiality
analytical procedures
analytical procedures
auditing controls
magnitude of an omission or misstatement of accounting inform…
mathematical tests of account balances to ensure that the rel…
helps lower the amount of controls testing that needs to be d…
test of the operating effectiveness of controls in preventing…
materiality
magnitude of an omission or misstatement of accounting inform…
analytical procedures
mathematical tests of account balances to ensure that the rel…
Auditions
Not Getting married (1 of 3)
NGM fast (2 of 3)
NGM (3 of 3)
Monologue (1 of 2)
Go cant you go... look you know I adore you all but why watch m…
Look I didn't want to tell you but I think I may be coming do…
One more thing I am not getting married... As Ive said I am not…
In our little town there is a boy named Samuel. He's a bag-bo…
Not Getting married (1 of 3)
Go cant you go... look you know I adore you all but why watch m…
NGM fast (2 of 3)
Look I didn't want to tell you but I think I may be coming do…
65 terms
AUDIT
Purpose of Audit
Fair Presentation Framework
Mgmt Responsibilities
Auditor Responsibilites
Opinion if FS presented fairly in all material aspects with a…
Requires compliance with the requirements of the framework an…
1) Prepare and fairly present FS in accordance with applicabl…
1) Express an opinion based on the audit.... 2) Have appropriate…
Purpose of Audit
Opinion if FS presented fairly in all material aspects with a…
Fair Presentation Framework
Requires compliance with the requirements of the framework an…
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