Question:
1. Describe the inherent limitations of internal control over financial reporting
2. a. When should an auditor issue an adverse opinion on internal controls over
Financial reporting?
b. Provide an example of a scope limitation and explain the criteria an auditor
should use when making a decision about when either to with draw from an
engagement or issue a disclaimer of opinion or a qualified opinion because
of a scope limitation.
c. Explain why an auditor might issue an adverse opinion on internal controls
over financial reporting and issue an unqualified opinion on the financial
statements
3. How do general ethics guide human behavior?
4. What is the difference between the ethical absolutists and ethical relativists
Schools of thought?
5. a. What is the difference between the ethical absolutists and etchical relativists
Schools of thought?
b. Develop an example of when these six steps would be helpful to CPAs.
6. a. What is the purpose of a professional ethics?
b. How are professional ethics imposed?