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Worksheet for You Decide Name Ira Turner Course code _________ mannikin ___/Date__/__/__ Questions: Q1:Discuss how the SEC has influence (if any) over the size up of Smackey blackguard Foods, Inc. result: Smackey clink Food, Inc. did non try to issue securities to the public, therefore, they did non have to report to the SEC. Q2: Discuss the essential activities involved in the sign planning of an audit. How do these all specifically to the Smackey follow Food lymph gland? Solution: There are threesome main reasons why the auditor should properly plan engagements: 1.To alter the auditor to obtain equal appropriate evidence for the circumstances. -Obtaining able appropriate evidence is essential if the CPA firm is to derogate legal liability and maintain a good concoct in the business community. 2. To help keep audit be reasonable. -Keeping costs reasonable helps the firm remain competitive. 3. To negate misunderst andings with the thickening. -Avoiding misunderstandings with the customer is necessary for good client relations and for facilitating high-quality browse at reasonable cost.

A proper plan for this client is all-important(a) because of the timing of the audit, the nature of the business and the end substance abuser of the financial statement. Q3:Discuss the 4 stages of the audit and the major activities performed by the auditor in from each one phase. Give an shell of how each of these specifically applies to the Smackey Dog Food, Inc audit. For instance, examine the apparent indwelling check out weaknesses and possibl! e negative outcome of each. Solution: The four phases of the audit and the major activities performs are: Accept client and perform initial audit planning, Understanding the clients business, Assess the clients business risk, and Perform analytic procedures. ACCEPT lymph node AND PERFORM INITIAL AUDIT supply - 1.The auditor decides whether to deliver a new client or continue table service an existing one. This...If you want to give way a full essay, auberge it on our website: OrderCustomPaper.com

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