Homework: Planning, Evidence, and Risk
Part I: Case Study
Review "The Tyronco Foundation COSO" by Glenn E. Sumnerscase study.
Complete the case study questions using the "CLC - Tyronco COSO Case Study Template."
Part II: Written Statement
Write a 250-500 word written statement that explains the significance of the case in context of both in this course and in the accounting profession. Address the following in your summary:
1) What professional auditing standards were included in the case study?
2) How do the professional auditing standards provide insight to a career in accounting?
3) How would this help you determine to continue to work with a client?
4) How does the COSO framework relate to auditing standards?
5) How would the completion of this exercise impact audit risk?
Reading: Assessing and Responding to Risks in a Financial Statement Audit- Auditors must leave a clear record in private company audits by John A.Fogarty, Lynford Graham and Darrel R. Schubert.
Format your homework according to the following formatting requirements:
(1) The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
(2) The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
(3) Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.