■ Audit Committee is directly responsible for the followings. ○ Selecting and Compensating independent auditor. -The board approval is not required. ○ Overseeing the work of the independent auditor. - Therefore cannot delegate that responsibility to management. ○ Treatment of complaints received by the issuer regrding accounting, internal controls and auditing matters. ■ Independent Auditor must..
CPAs are not encouraged or required to refrain from solicitation unless it is false, misleading, or deceptive. ■ The AICPA does not make endorsements. -AICPA 멤버라고 하는 것은 괜찮지만, Endorsed by라고 쓰는 것은 사기임. ■ Advertising free consultation is acceptable. -공짜라고 광고해도 상관 없음. ■ 학력(Education Attainment)은 정확하게 표기만 했으면 Okay.
Cost of Benefit 문제 Control 결함을 경영진(Management)이 고치느냐 마느냐는 Cost of Benefit 문제임. Fraud Risk Factor Fraud risk factors relate to misstatements arising from (1) fraudulent financial reporting and (2) misappropriation of assets. Each of these categories may be further classified according to the three conditions that ordinarily exist when fraud occurs: (1) incentives/pressures, (2) opportunities, and..
Litigation Affects Independence when? ■ The Client = 원고(the Plaintiff or a Nominal Plaintiff) 일 때. ■ The Third Party(e.g., an insurance company)도 a Client of the member이고, Material Settlement is Significant 할 때. ■ Cross-Claims 에서는 CPA랑 Client가 Against each other여야함. 회계법인에서 일하던 누군가가 ☞ Attest Client 회사의 Key Position으로 이직한 경우 ■ 회계법인의 Team member가 Professional Skeptism만 있다면 이직자와 Interaction 정도는 괜찮다...
여러가지 Procedures에서 Internal Auditor는 Auditor의 Responsibility인 것들을 다 도와줄 수 있다. 그러나 Judgement(판단) 내리는 것은 오롯이 Auditor의 몫이다. ■ (AU-C 610) The auditor has the sole reporting responsibility and makes all judgments about matters affecting the report.