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[DOCX File]Background - AICPA
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In some circumstances, the auditor might design a test that uses a . dual-purpose. sample. The most common dual-purpose approach in a Circular A-133 compliance audit is testing the operating effectiveness of a control and testing whether the auditee complied with relevant laws, regulations, or provisions of contracts or grant agreements using the same sample.
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[DOCX File]Chapter 1
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One key difference is this paragraph references registration with the PCAOB and independence requirements of the SEC and other federal securities laws. Scope paragraph - It includes an explicit statement that PCAOB audit standards were followed since it is a public company.
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Ethics for Accountants
The difference between what the public thinks it is getting in audited financial statements and what the public is actually getting is known as: ... c. PCAOB. d. AICPA. e. all of the above. ... b. The five members (only two of which can be CPAs) of the Public Company Accounting Oversight Board (PCAOB) are certified in the Company(s headquarters ...
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[DOC File]Chapter 07 Internal Control - CPA Diary
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Difficulty: Easy Source: AICPA 58. The auditors who become aware of an internal control significant deficiency are required to communicate this to the: A. Client's legal counsel. B. Compensation committee. C. Audit committee. D. Internal auditors. Difficulty: Medium Source: AICPA 59.
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[DOCX File]Lesson 16 - wsfcs.k12.nc.us
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The difference between the AICPA, PCAOB, and the FASB is that the FASB creates generally accepted accounting principles (GAAP) guidelines that focus on the information reported on financial statements. Both the AICPA and PCAOB create wide ranges of behavioral (ethical and professional) guidelines, which focus on how CPAs and auditors actually ...
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[DOC File]Chapter 17 Auditors' Reports
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36. Which of the following is not a difference between the audit report of a nonpublic and public company? A. The nonpublic company report includes the word "Registered" in the title. B. The nonpublic company report refers to standards of the PCAOB. C.
difference between aicpa and pcaob

[DOC File]AICPA Plain English Guide to Independence
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PCAOB Rule 3521, Contingent Fees, (AICPA, PCAOB Standards and Related Rules, Rules of the Board, “Rules”), prohibits you and your firm from providing any service or product to an SEC Audit Client for a contingent fee or commission or receiving from the audit client, directly or …
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[DOC File]Review Questions Solutions
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PCAOB. AICPA. A3 What is the difference between audits performed under PCAOB and AICPA standards? Audits performed for public companies (SEC registrants) are performed under SEC registrants and include an audit of ICFR and an audit of financial statements that must be performed as a single engagement. Audits of nonpublic companies under AICPA ...
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SEC Compliance Checklist -- General
These financials should be audited under PCAOB standards. (ii)The financial statements must conform to the requirements of Regulation S-X, except that supporting schedules need not be filed. If the subsidiary is a foreign business, financial statements of the subsidiary meeting the requirements of Item 17 of Form 20-F or IFRS as issued by the ...
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[DOC File]Understanding GAAP, GAAS, and the Accounting Cycle
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SAS – Statement on Auditing Standards. Promulgated by the AICPA, these are the “rules” for auditors of private companies. Additionally, if the PCAOB has not covered a specific topic, auditors follow the SASes. SD – Significant Deficiency.
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Difference between aicpa and pcaob