Details

1.26 Value of auditing

Required:

Would you  obtain  an  audit  for this  company?  Explain the reasons for your decision.

1.27 Expectation gap

Required:

Discuss the views of the audit partner.

1.28 Independence and reliability

Required:

Based  on  the  series   of  accounting  crises  and  corporate collapses in the early 2000s, discuss the importance of maintaining  independence   (and  reliability)  by  an  auditor. What do you think of the above comment?

2.22 audit committees

Discuss  the  work of  the  audit  committee  in  enhancing corporate  governance.   Refer  to  specific   examples-choose some  large  companies  and access  information from their websites.

2.24 Madoff ’s scheme

Required

Evaluate the case  from an audit point of view, highlighting possible risks for an investor and a fund manager who might be attracted to such a scheme.