Auditing Assignment | Mortdate Accounting Firm
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Added on 2020-05-28
Auditing Assignment | Mortdate Accounting Firm
Added on 2020-05-28
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Running head: AUDITINGAuditingName of the StudentName of the UniversityAuthor’s Note
1AUDITINGTable of ContentsQuestion 1........................................................................................................................................3Situation [a].................................................................................................................................3Situation [b].................................................................................................................................3Situation [c].................................................................................................................................3Situation [d].................................................................................................................................4Situation [e].................................................................................................................................4Situation [f]..................................................................................................................................4Situation [g].................................................................................................................................5Situation [h].................................................................................................................................5Question 2........................................................................................................................................5Situation [a].................................................................................................................................5Situation [b].................................................................................................................................5Situation [c].................................................................................................................................6Situation [d].................................................................................................................................6Situation [e].................................................................................................................................6Situation [f]..................................................................................................................................6Situation [g].................................................................................................................................7Situation [h].................................................................................................................................7References........................................................................................................................................8
2AUDITINGQuestion 1Situation [a]In the provided situation, it can be seen that Mortdate Accounting firm has provided allthe papers related to the audit of many public companies to Penshurts Accountants. APES 110,Confidentiality, 140 states that it is the obligation on the auditors that they cannot disclose theconfidential information of the audit clients acquired at the time of providing professionalservices. For this reason, by providing the audit papers of their clients, Mortdate Accountantshave violated the ethical principle of confidentiality (Houghton and Campbell 2013).Situation [b]It is the responsibility of the auditors to determine that whether his/her new professionalcontract has negative effect on the fundamental principles of auditing. According to the providedsituation, Jan Dungog applies to a local firm by not informing her current employer and the localfirm appoints het by not informing her employees. This particular action of Jan Dungog hasviolated the fundamental principle of auditing and poses discredit to the same. Thus, as perAPES 110, Professional Behavior, 150, this particular action of Jan Dungog has breached theprofessional behavior principle of auditing (William Jr, Glover and Prawitt 2016).Situation [c]According to APES 110, Professional Behavior, Section 150, it is the responsibility ofthe auditors to comply with the required laws and regulations related to auditing. APES 110states that the auditors are not allowed offer any kind of additional services to the audit clientapart from the auditing services. Thus, as per APES 110, in this particular situation, Wendel
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