Comprehensive Audit Plan : ACC 574 Assignment 5

Comprehensive Audit Plan : ACC 574 Assignment 5

Comprehensive Audit Plan :  ACC 574 Assignment 5 Make recommendations on the requirements for the feasibility study and discuss the Pros and cons for the design of SDLC with a recommendation for an optimal time frame for each stage. A feasibility study is a basic audit procedure that helps the organization in compliance and preparation of a final audit. A feasibility study answers the basic question; can it be accomplished given the current resources? The feasibility study enables the management to determine all the resources necessary for the accomplishment of the tasks and the viability of the project (Kendall, & Julia, 2005). The following are the basic requirements for a feasibility study. Analysis of the existing information system For an organization to develop a new and advanced system, the existing system must be analyzed in detail in order to identify its weaknesses in detecting and averting fraud. The crucial thing in this step is for the team to comprehensively review the interactions of...
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Assignment: 4 Emerging Auditing Issues

Assignment: 4 Emerging Auditing Issues

Assignment: 4 Emerging Auditing Issues The Public Company Accounting Oversight Board The role of PCAOB in improving reliability of audited financial statements The Public Company Accounting Oversight Board (PCAOB) is a non-profit private corporation formed under the Sarbanes-Oxley Act (SOX-2002) to conduct supervisory roles to all accountants or auditors involved in producing audit reports for public companies (Palmiter, 2008). The board’s core mandate is to ensure that the independent auditors observe due procedures while auditing public companies. In addition to this, the body registers, conducts investigations and issues disciplinary measures to public accounting firms found guilty of auditing malpractices (Palmiter, 2008). The board also ensures that public accounting firms observe the SOX Act to the latter. The establishment of PCAOB has greatly enhanced reliability of audited financial statements for the public users of information. The following section provides a detailed analysis of the important role played by PCAOB. PCAOB routinely conducts inspections upon public accounting firms to ensure that they adhere to all the...
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