ACC 521 Lecture Notes - Lecture 1: Former State Routes In Pennsylvania, Bes, Fha Insured Loan

• School: Ryerson University
• Department: Accounting
• Course: ACC 521
• Professor: Larry Yarmolinsky

Document Summary

Ep1-1 when the pa is hired by hughes corporation, he can no longer be considered independent with respect to the annual audit. The annual audit may then be unnecessary in a short-run view and unnecessary to the extent of services exclusive of the attest opinion. He cannot modify the perception of potential conflict of interest that creates demand for the independent audit. As a matter of ethics rules, this pa would be prohibited from signing the standard unqualified attest opinion. Ep1-2 you should point out that you will be unable to replace the independent audit with your own communication output as controller. Make the point that you can conduct an effect internal audit function and be of considerable service to management and can even assist the independent auditors with preparation of schedules and general cooperation (thus facilitating the independent audit).