Paper should be no less than 800 words and no longer than 1,200 words and be compliant with all APA composition and referencing requirements DOUBLE SPACED – 3 PAGES – TIMES NEW ROMAN – 12 POINT What

Paper should be no less than 800 words and no longer than 1,200 words and be compliant with all APA composition and referencing requirements

DOUBLE SPACED – 3 PAGES – TIMES NEW ROMAN – 12 POINT

  • What are the objectives of audit risk assessment, and why is it important to assess the likelihood that fraud may occur? How might the assessment influence the auditors’ evaluation of ICFR?
  • Explain the content of each section of the audit report. Evaluate the importance of each section with respect to the users of financial reports.
  • Distinguish between an auditor’s responsibility to detect and report errors, illegal acts, and disclosure of such events.
  • What are the auditor’s responsibilities to communicate information to the audit committee under PCAOB standards? If the auditor discovers that the audit committee routinely ignores such communications especially when they are critical of management’s use of GAAP and the financial statements, what steps might the auditor take at this point?