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Based on your understanding of the company, what factors may increase the risk of fraudulent financial reporting in Souper Bowl’s 2016 revenues? 

Numerical Analysis Tableau Assignment Company Background  You were recently promoted to audit senior at your firm, Aoife & Josephine LLP, and one of your primary clients is Souper Bowl Inc. Souper Bowl (‘‘the company’’) is a privately held business headquartered in Maine, and has a fiscal year-end of December 31. The company has been in […]

List the most important weaknesses in their processes and state the misstatements that are likely to result from the weakness.

ASSIGNMENT The Kowal Manufacturing Company employs about 50 production workers and has the following payroll procedures. The factory foreman interviews applicants and on the basis of the interview either hires or rejects them. When applicants are hired, they prepare a W-4 form (Employee’s Withholding Exemption Certificate) and give it to the foreman. The foreman writes […]

What is the auditor’s responsibility when noncompliance with laws or regulations is identified or suspected?

REVIEW QUESTIONS 6-1 (OBJECTIVE 6-1) State the objective of the audit of financial statements. In general terms, how do auditors meet that objective? 6-2 (OBJECTIVE 6-2) Describe management’s responsibility for the financial statements. Doyou believe the CEO and CFO of a public company perceive an even greater responsibility as a result of the Sarbanes–Oxley Act […]

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