Auditing I
NYC- Fall 2013
Understanding the SASs
This class required me to read and understand the SASs. I visited the AICPA website and learned about the SASs. I now understand more about what it means to be an auditor. I am aware of the responsibilities that I will hold as an auditor. My takeaways include, but are not limited to:
- document every matter
- understand/research industry
- remain independent
- perform tests to see if controls work as intended
- be ready to justify all actions and decisions
- maintain confidentiality of client information
- gather and prepare evidence
My First Audit
I've Been Promoted!
My professor says "keep your skepticism hat on" during the preparation session for the upcoming audit on Saturday. We are preparing to look at internal controls on site. We discussed how to obtain evidence in an audit. We will be "inspecting and examining records and documents." We will document all of this and record all conclusions that are made.
She also reminded us to praise the client for things that they do well.
Advanced Auditing Practices
NYC- Spring 2014
Understanding the SSARS
This course required me to understand the SSARS. I read through them on the AICPA website. I studied the compilation and review standards, audit and attest standards, and the AICPA standards and ethics.
Auditor means "one who listens"
My First Review
United States vs International Audit Standards
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Research Paper Requirements for U S vs International Audit Standards.docx Details
Download Research Paper Requirements for U S vs International Audit Standards.docx [21.7KB]}This paper discusses why the standards are so different, pertinent websites, stakeholders, and three specific differences between the two standards.
Litigation Paper
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Litigation.docx Details
Download Litigation.docx [20KB]}This paper identifies recent litigation cases, their stakeholders, and the outcomes.
Attestation Engagement
I reviewed written assertions made by Chartwells food service (Pace University's cafeteria) in order to provide limited assurance over the subject matter . Chartwells then gave the report to its parent company to assure that the assertions are not misleading. I used due care, planned for the service, and also supervised the work done.
On Tuesday, March 4th, 2014, I gathered evidence, documented my findings, and created a review report under Attestation Standards.
Information Technology Assignment
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Auditing-Information-Technology-Assignment.pdf Details
Download Auditing-Information-Technology-Assignment.pdf [178.7KB]}We were asked to write about a computer disaster that happened and analyze it in terms of general and application control weaknesses. Here is my completed assignment.
Principles of Professional Conduct
I studied the ethics involved in accountancy. Here is the AICPA site which I based my research on.
Guest Speaker
A guest speaker from JPMorgan Chase spoke to the class about his experiences in the profession. Two major points were made.
- Auditors are necessary for the greater good of society. The U.S. capital markets are successful because investors trust the public accounting profession to perform audits.
- An effective and successful auditor will understand the business strategy of the company; understand the complexity and challenges of operations; understand the personality and aspirations of management. This involves understanding the pressures that they are under, and judging if they are transparent or not. A good understanding can be gained through research and visiting operations.