International Accounting
5th Edition
ISBN: 9781259747984
Author: Doupnik, Timothy S., Finn, Mark T., Gotti, Giorgio
Publisher: Mcgraw-hill Education,
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Chapter 11, Problem 8EP
To determine
Explain the environmental factors that affect issues concerned with the auditing in own country.
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" Accounting is shaped by , reflects , and reinforces particular characteristics unique to its national environment ” . Explain how the environmental factors affect the national development of accounting system .
Which of the following plays an important role in all field audits?
Adjustments.
Verification of income.
Filing status.
Tax credits.
distinguish between audit, attest, and assurance services. What is GAAS? Which agency is responsible to set these standards in the U.S.?
Chapter 11 Solutions
International Accounting
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- Explain the environmental factors that lead to national differences in accounting.arrow_forwardWhat is the term used to describe a systematic process of objectively obtaining evidence regarding assertions about economic actions and events to ascertain the degree of correspondence between those assertions and established criteria and communicating the results to interested users? a. Financial statement audit. b. Internal audit. c. Program audit d. External audit.arrow_forwardIdentify several environmental factors that may explain why accounting principles differ among countries.arrow_forward
- The AICPA has issued several audit and accounting guides for specialized industries. Do auditors have a responsibility to refer to these guidelines when auditing clients to those industries?arrow_forwardWho should set accounting standards? A government agency or private body such as the FASB?arrow_forwardWhich of the following groups is responsible for developing auditing standards for public firms in the U.S.? A. American Institution of Certified Public Accountant (AICPA)B. Public Company Accounting Oversight Board (PCAOB)C. Organizations for Economic Cooperation and Development (OECD)D. Center for Audit Quality (CAQ)arrow_forward
- Which of the following tasks is a function of an audit committee? Select one: a. Making decisions regarding the purchase of company assets. b. Appointing the external auditor. c. Preparing the financial report for audit. d. Overseeing the application of appropriate accounting policies and procedures to ensure appropriate disclosure.arrow_forwardWhat type of audit objectively obtains and evaluates evidence regarding assertions about economic actions and events to ascertain the degree of correspondence between those assertions and established criteria? This type also communicates the results to interested users.arrow_forward1. Mention the qualification of external auditor in USAarrow_forward
- Which of the following accounting areas is NOT significantly affected by international activity? a. overhead allocation b. recognition principles c. auditing standards d. all are significantly affectedarrow_forwardWhich department is IN charge in overseeing the External Audit Activity? Audit Committee Internal Audit Department Accounting Department Human Resource Departmentarrow_forwardWhich of the following audit types is designed to add value and improve the organization's operations and internal controls? a. External audit b. Internal audit c. Statutory audit d. Government auditarrow_forward
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