Beruflich Dokumente
Kultur Dokumente
William C. Boynton
California Polytechnic State
University at San Luis Obispo
Raymond N. Johnson
Portland State University
• Competence Issues
• Independence Issues
Preparing the Engagement Letter
A. Inquiries of management
Study Break
2. Outside specialists include all of
the following except:
A. Appraisers
B. Internal auditors
C. Actuaries
D. Attorneys
B. Internal auditors
Risk Assessment Procedures
Understanding the Entity and Its
Environment
Industry, Regulatory, and Other
External Factors
• Industry Conditions
• Regulatory Environment
• Investing Activities
• Financing Activities
• Financial Reporting
Entity’s Objectives, Strategies,
and Related Business Risks
• Entity’s Objectives
• Entity’s Strategies
• Business Risks
• Performance Indicators
• Industry Trends
D. Financial Reporting
Study Break
4. ______ are the operational
approaches by which management
intends to achieve its objectives.
A. Entity’s objectives
B. Entity’s strategies
C. Business risks
D. Financing activities
B. Entity’s strategies