All categories

1 year ago

responsibility for setting all audit standards to be followed on audit of public companies rests with the .

1 answer:

7 0

Responsibility for setting all audit standards to be followed in the audit of public companies rests with the NGOs.

<h3>Who is responsible for setting auditing standards?</h3>

Certified public accountants receive standards, guidelines, auditing, attestation, and quality control statements from the Auditing Standards Board (ASB) (CPAs). It is the senior technical committee of the AIPCA, and its job is to create generally accepted auditing standards (GAAS) for private companies.

The auditor has a duty to prepare and carry out the audit in order to get a reasonable assurance regarding the absence of a major misstatement, whether brought on by fraud or error.

In order to reduce audit risk, the Public Company Accounting Oversight Board (PCAOB), a nonprofit organization, regulates audits of publicly traded corporations. In order to address the accounting crises of the late 1990s, the PCAOB was founded concurrently with the Sarbanes-Oxley Act of 2002.

Learn more about The Audit here:

brainly.com/question/14652228

#SPJ4

You might be interested in

Nor Corporation borrowed money using a discounted note at 94 with a stated 6% interest rate and a face amount of $400,000. What

kolezko [41]

Answer:

the effective rate of interest on the debt is 6.38%

Explanation:

The computation of the effective rate of interest on the debt is shown below:

Effective rate of interest is

= ($400,000 × 6%) ÷ ($400,000 × 0.94)

= $24,000 ÷ $37,600

= 6.38%

Hence, the effective rate of interest on the debt is 6.38%

It could be determined by applying the above formula so that the correct rate could come

8 0

3 years ago

Max is the marketing manager at the university bookstore. He is developing his marketing plans for the next school year. The boo

Mariulka [41]

<u>Solution and Explanation:</u>

the total sales of calendars is as follows:

7200 multiply with $5 each = $36000

In order to find out the profit, the toal of sales is to be subtarcted with costs. The given sales is $36000, costs is $19183

Thus, the total profit = $16817

95% of 10080 canot be taken in order to find out the correct number. 5% enrollment growth, is as follows:

10080 = 1.05 multiply "x"

thus, calculating x = 9600

The number of studnets are 9600 in the last semester out of which 7200 bought calendar. 7200 divide 9600 = 75.0 percent sales penetration.

8 0

3 years ago

Welcome to the last week of your course. In this discussion question you have the opportunity to be creative and to relate what

Gnesinka [82]

Explanation:

The business market is constantly changing, currently we are dealing with a technological revolution that directly affects the lives of people and companies. The market is increasingly competitive and globalized, so adapting to new processes and innovations with regard to technology, administrative practices and communication are essential when it comes to managing companies.

A good leader must understand that currently companies are increasingly responsible for their micro and macro environment, which configures them as active agents for positive change in the world. Therefore, the ideal is that managers consider adopting current practices that use modern communication and intelligence systems to make work easier and more agile, in addition to promoting continuous improvement in all organizational processes, avoiding waste and negative impacts on the environment, establishing social programs and environmental protection practices, in order to attest its value to stakeholders.

It is also necessary that the company be ethical with its employees, respect the individual values of each with regard to culture, gender, etc., promoting an environment and organizational culture focused on inclusion and respect for differences.

The ideal is also to have an assertive leadership, where the leader is the personal incentive agent, adopting positive attitudes about its collaborators and helping in the personal and professional development, generating an innovative, ethical and positive environment.

4 0

2 years ago

Almost all union members pay dues. A union member has $5.50 deducted from his paycheck each week for union dues, and has done so

Bumek [7]

The union worker gained $1,140

6 0

3 years ago

As the property manager, galena places advance rental funds in an interest-bearing account for her landlord. which of these must

Elden [556K]

She must deposit the advance rental money in an account with at least $15 of the landlord's own money.

In a lease arrangement, the term "rental advance" refers to the initial, lump-sum payment of rent paid by the tenant (lessee) to the lessor (lessor). The monthly rent that the lessee is required to pay is then subtracted from this lump sum figure.

By debiting the cash account and crediting the unearned rent, the business can record an entry in the ledger for rent that was received in advance. Advance rent is a liability account with a credit-side balance as its default setting. The balance sheet's assets and liabilities grow by the same amount as a result of this journal entry.

Learn more about advance rental money here

brainly.com/question/26882728

#SPJ4

8 0

1 year ago