Question.2617 - DISCUSSION: COMPREHENSIVE CASE ANALYSIS ASSIGNMENT INSTRUCTIONS OVERVIEW The student will complete one Discussion: Comprehensive Case Analysis in this course. INSTRUCTIONS The case must be selected from Section One of the Knapp casebook (Contemporary Auditing: Real Issues & Cases). The student will post one thread of between 1000 and 2500 words, twelve-point font by 11:59 p.m. (ET) on Sunday of the assigned Module. For this thread, the student must support their assertions with at least five scholarly or practitioner sources which must be listed and cited using the current APA standards for graduate classes. Acceptable sources include both refereed scholarly journals, practitioner journals and textbooks. A Statement of Christian World View must be included in which the student will express an opinion on whether the auditor or client appeared to act in accordance with a Christian World View. At least one Bible verse must be cited to support this opinion. The Discussion: Comprehensive Case Analysis must start with a summary of the case, giving the reader a background of the case that is sufficient for the reader to understand the audit issues involved. Then, each question must be written, in order, and answered. The answers must be supported by citations to references. The Statement of Christian World View may be in a separate location or may be incorporated throughout the case analysis. Please see the Discussion Grading Rubric for complete details of how this assignment will be graded.REPLY OVERVIEW The student will post one reply for this discussion. Your one reply must be a critique of the other student’s Discussion: Comprehensive Case Analysis in this course. The critique should be between 1000 and 2500 words, twelve-point type. The student will claim the work to be critiqued by a posting in reply to the selected student’s work. The critique will consist of a thread in reply to the selected student’s work. A proper critique will address each item in the Case Analysis in order, starting with the Case Summary, stating whether you agree with the posted work and adding such comments as you think will add to the Case Analysis. Each question must be written and addressed separately. The Statement of Christian World View must be commented upon. If an item (Case Summary, question, or Statement of Christian World View) was omitted, you must supply the missing item. The student must support their assertions with at least four scholarly or practitioner sources which must be listed and cited using the current APA standards for graduate classes. Acceptable sources include both refereed scholarly journals, practitioner journals and textbooks.
Answer Below:
Comprehensive xxxx analysis xxxxx Fargo xxx amp xxxxxxx nbsp xxxx nbsp xxxxxxx of xxxxx Fargo xxx amp xxxxxxx Wells xxxxx is x diversified xxx leading xxxxxxx It xxxxxxxx financial xxxxxxxx to xxxxxx and xxxxxxxxx banking xxx wealth xxxxxxxxxx services xx individuals xxxxxxxxxx high-net-worth xxxxxxxxxxx and xxxxxxxxxxxx Thus xx works xx four xxxxxxxx They xxx Consumer xxxxxxx and xxxxxxx Commercial xxxxxxx Corporate xxx Investment xxxxxxx and xxxxxx and xxxxxxxxxx Banking xx was xxxx in xxx form xx subsidiaries xxx Consumer xxxxxxx and xxxxxxx segment xx the xxxxxxx works xx provide xxxxxxx financial xxxxxxxx and xxxxxxxx for xxxxxxxxx and xxxxx businesses xxx services xxxxxxx accounts xxxxxxxx and xxxxxx credit xxxxx and xxxxx cards xxxxxxxxx lending xxxxxxxx for xxxx auto xxxxxxxx and xxxxx businesses xxxxxxx the xxxxxxxxxx Banking xxxxxxx the xxxxxxx provides xxxxxxxxx solutions xx the xxxx of xxxxxxx services xxx credit xxxxxxxx to xxxx industries xxx municipalities xxxxxxx lending xxx products xxx facilities xxxx treasury xxxxxxxxxx to xxxxxxx types xx companies xxxx private xxxxxxxxx family-owned xxxxxxxxx and xxxx public xxxxxxxxx The xxxxxxxx and xxxxxxxx of xxx Corporate xxx Investment xxxxxxx segment xxxxxxxx banking xxx corporate xxxxxxxxxx banking xxxxxxxx management xxx lending xxxxxxxx These xxxxxxxx are xxx commercial xxx real xxxxxx for xxxxx having x fixed xxxxxx or xxxxxx for xxxxx and xxxxxxx companies xxx capability xxxxxxxx services xxxx segment xxxxxx its xxxxxxxx basically xx capital xxxxxxx Except xxx capital xxxxxxx banking xxx financial xxxxxxxx and xxxxxxxx are xxxxx to xxxxxxxxx commercial xxxx estate xxxxxxxxxxx and xxxxxxxxxxxxx clients xxx Wealth xxx Investment xxxxxxxxxx segment xxxxxx its xxxxxxxx and xxxxxxxx to xxx wealthy xxxxxxxxxxxxxx and xxxxxxxxxxxxxxx clients xxx benefits xxxxxxx personal xxxxxx management xxxxxxxxx financial xxxxxxxx lending xxxxxxx banking xxx trust xxx fiduciary xxxxxxxx It xxx its xxxxxxxx globally xx operates xxxxxxx ATMs xxxxxxx andinternet xxxxxxxxxxxx channels xxxx company xxx its xxxxxxxxxxxx in xxx Francisco xxxxxxxxxxx and xxx US xxx foundation xxx laid xx nbsp xxxxxxxxx and xxxxxxxx Identify xxx different xxxxx or xxxxxxx of xxxxxxxx controls xxx do xxxxxxxx controls xxxx financial xxxxxxxxx ICFR xxxxxx from xxx other xxxxx or xxxxxxx of xxxxxxxx controls xxxx ANS xxxxxxxx control xxxx financial xxxxxxx is xxxx in x company xxx accounting xxx auditing xx ensures xxxx a xxxxxxx follows xxx rules xxx regulations xxx prevents xxx action xx fraud xx helps xx maintain xxx accuracy xx financial xxxxxxxxx nbsp xxxx nbsp xxxx nbsp xxxx nbsp xxxxxxxxx types xx classes xx internal xxxxxxxx are xxxxxxxxx preventive xxx corrective xx adequate xxxxxx with xxxxxxxx control xxxx have xxx three xxxxx as xxxx has x different xxxxxxx Internal xxxxxxxx on xxx other xxxx have xxxxx limitations xxxx they xxx to xxxxxxxxxx and xx do xx they xxxx to xx through xxxxxxxxxx reviews xxx are xxxxxxxxx by xxx control xxxxxx nbsp xxxx nbsp xxxx Internal xxxxxxx over xxxxxxxxx reports xxxxxxx from xxx types xx internal xxxxxxxx in xxx following xxxx Internal xxxxxxxx take xxxx of xxx technical xxxxxxxxxx authorization xx invoices xxx verification xx expenses xxxxx preventive xxxxxxxx control xx to xxxx preventative xxxxxxxx so xxxx adverse xxxxxx like xxxxxx and xxxxxxxx do xxx have xxxxxxxxx information xxxxxx place xxxxxxxxxx control xx the xxxx type xx internal xxxxxxx as xxxx reduce xxx need xx counter-check xxxxxxxx by xxxxxxxxx errors xxx frauds xx the xxxxx place xx is xxxxxxx the xxxxxx is xxxxxxxxx thus xx does xxx need xxxxx labor xx this xxxx of xxxxxxx no xxxxxx person xxx authorize xxxxxxx and xxxx results xxx a xxxxxxxxx report xxx work xx divided xxxxx individuals xx this xxxx physical xxxxxxxx cash xxxxxxxxxxx and xxxxx assets xxx limited xxxxxxxxxx controls xxx used xx cases xxxx drug xxxxxxx computer xxx server xxxxxxx firewalls xxx nbsp xxxx Internal xxxxxxx over xxxxxxxxx reports xxxxxxxxxx the xxxx and xxxxxxx of xxxxxxxx and xxxxxxxxxx of xxxxxxxxx statement xxxxxxxxxx while xxxxxxxxx internal xxxxxxx helps xx detecting xxx mistake xxxx after xx has xxxxxxxx and xxx become x known xxx significant xxxxx It xx done xx comparing xxxx sets xxxx examples xx defective xxxxxxxx control xxx internal xxxxxxxx systems xxxxxxxxx reports xxxxxxxx inventories xxx Internal xxxxxxx over xxxxxxxxx reports xxxxxxxx the xxxxxx of xx organization xx going xxxxxxx errors xxx inappropriate xxxxxxx In xxxxxxxx corrective xxxxxxxx control xx practiced xxxx a xxxxxxx like xxxxxxxxxxxx action xxxxxx filling xxxxxxxx patches xx modifications xx new xxxxxxxx needs xx be xxxxx control xxx discovered xxxx it xx said xxxx this xxxxxx was xxxxx when xxxxxxxx differences xxxx found xxx audit xx a xxxxxxxxxxxxxxx example xx corrective xxxxxxxx control xxxx nbsp x Do xxx agree xxxx KPMG xxxxx s xxxxxxxx that xxxxx Fargo xxxxx s xxxxxxxx sales xxxxxxxxx did xxx involve xxx company xxxxx s xxxx Defend xxxx answer xxxx ANS xxx I xxxxx with xxxx rsquo x position xxxx Wells xxxxx rsquo x improper xxxxx practices xxx not xxxxxxx the xxxxxxx rsquo x ICFR xx is xxxxxxx it xxxxxxxx neither xxxxxxxx nor xxxxxxxxx scenarios xxxx the xxxxxxxxx reporting xxxxx accounting xxxx depositing xxxxx in xxx authorized xxxxxxx or xxx other xxxxxxx unauthorized xxxxxxx was xxx successful xx changing xxx deposited xxxxxxx in xxx report xx the xxxxxxx quantity xxxxxxxx the xxxx and xxxxx not xxxxxx the xxxxxxxxx statements xxxxxxxxxx Such xxxxxxx activities xxxxx not xxxx leave xxx material xxxxxx on xxxx but xxxxxxxx their xxxxxxxxxx nbsp xxxx nbsp x How xxxx the xxxxx rsquo x Auditing xxxxxxxxx Board xxxxxx a xxxxxxxx weakness xx internal xxxxxxx How xxxx the xxxxx define x material xxxxxxxx in xxxx What xxxxxxx should xxxxxxxx consider xx deciding xxxxxxx an xxxx deficiency xxxxxxxxx as x material xxxxxxxx in xxxx nbsp xxx The xxxxxx Auditing xxxxxxxxx Board xxxxxxx a xxxxxxxx weakness xx examining xx entity xxxxx s xxxxxxxx control xxxx its xxxxxxxxx reporting xxxx nbsp xxxx PCOAB xxxxxxx material xxxxxxxx as xxx situation xxxxx the xxxxxxxx rsquo x interest xxxxx financial xxxxxxxxx of x company xxx was xxx detected xxxxxx the xxxxxxxxxx time xxxx nbsp xxxx nbsp xxx factors xxxx the xxxxxxxx consider xx deciding xxxxxxx an xxxx deficiency xxxxxxxxx as x material xxxxxxxx in xxxx is xx auditor xxxxxx allow xxx employees xx keep x check xx the xxxxxxxxxx and xxxxxxx them xx time xx the xxxxxxx does xxx allow xxx employees xx do xx on xxxx and xx per xxx need xxxx it xxxxx under xxxxxxxx weakness xxxx nbsp x Wells xxxxx rsquo x independent xxxxx members xxxxxxxxx that xxx bank xxxxx s xxxxx Decentralized xxxxxxxxx structure xxxxx was xxxxx one xxxx cause xx the xxxxxxx rdquo xx you xxxxxxx the xxxxxxxxxxxxx nature xx Wells xxxxx rsquo x corporate xxxxxxxxx qualified xx a xxxxx material xxxxxxxx rdquo xx Wells xxxxx rsquo x ICFR xxx or xxx not xxxx ANS xxx I xxxxxxx that xxx decentralized xxxxxx of xxxxx Fargo xxxxx s xxxxxxxxx structure xxxxxxxxx as x ldquo xxxxxxxx weakness xxxxx in xxxxx Fargo xxxxx s xxxx nbsp xxxx nbsp xxxx It xx because xxxxx amp xxx Fargo xxxxx s xxxxxxxxxxxxx organizational xxxxxxxxx permitted xxx employees xx be xxxxxxxxx It xxx be xxxx so xxxxxxx the xxxxxxxxx were xxx questioned xxxxx their xxxxxxx acts xxxxxx hold xx a xxxxx number xx business xxxxx they xxx not xxxx efforts xx keep xx eye xx the xxxxxxxxx of xxxxx staff xxxx individual xxxxxxxxxx started xxxxxxxxxxx the xxxx and xxxx started xxxxxxx acts xxxx nbsp xxxx Q xxxx an xxxxx firm xx a xxxxxx company xxxx a xxxxxxxxxxxxxx to xxxxx audit xxxxxxxxxx intended xx determine xxxxxxx the xxxxxx has xxxxxxxxx illegal xxxx that xxx rsquo x directly xxxxxx its xxxxxxxxx statements xxxxxxx What xxxxxxxxxxxxxx does xx auditor xx a xxxxxx company xxxx if xxx auditor xxxxxxxxx such xxxxxxx acts xx the xxxxxx nbsp xxx No xx audit xxxx of x public xxxxxxx does xxx have x responsibility xx apply xxxxx procedures xxxxxxxx to xxxxxxxxx whether xxx client xxx committed xxxxxxx acts xxxx don xxxxx t xxxxxxxx impact xxx financial xxxxxxxxxx nbsp xxxx nbsp xxxx It xx because xxx illegal xxxxxxxx does xxx show xxx impact xx the xxxxxx of xxx financial xxxxxxxxx The xxxxxxx amp x job xx to xxxxxx the xxxxxxxx and xxxxx showing xxx immediate xxxxxx on xxx material xxxxxx rather xxxx seeing xxx legality xxxx nbsp xxxx nbsp xx the xxxxxxx discovers xxx illegal xxxx by xxx client xxxx the xxxxxxx must xxxxxx the xxxxx company xxxxxx issuing xxx auditor xxxxx s xxxxxx It xxx be xxxx in xxxxxxx or xxxx form xxx the xxxxxx communication xxxxxx be xxxxxxxxxx nbsp xxxx Q xxxxx the xxxxx Fargo xxxxxxx was xxxxxxxxx several xxxxxxx pointed xxx that xxxx had xxxxxx as xxx company xxxxx s xxxxx firm xxxxx Explain xxx the xxxxxx of xx audit xxxx rsquo x tenure xxx influence xxx ICFR xxxxxxxxxx for x public xxxxxxx client xxxx ANS xxx length xx an xxxxx firm xxxxx s xxxxxx may xxxxxxxxx its xxxx assessment xxx a xxxxxx company xxxxxx in xxxx way xxxx nbsp xxxx nbsp xxxx time xx working xxx a xxxxxxx an xxxxx firm xxxxxxx familiar xxxx that xxxxxxx amp x operation xx even xxxxx the xxxx to xxxxxxx better xxxxxxxxx nbsp xxxx nbsp x statement xx the xxxxxxxxx World xxxx is xxxxxx as xxxxxxx nbsp xxxxx The xxxxxxxxx worldview xxxxxxx the xxxxxxxx of xxxxx Christ xxxx all xxxxxxxx points xx the xxxxxxxxxxx worth xxx graciousness xx the xxxxxx and xxxxx for xxx true xxx proper xxxxxxx of xxx triune xxx In xxx context xx Christian xxxxxx education xxx framework xxxxxxx the xxxxxx to xx better xxxxxx of xxx rsquo x truth xxx reconciliation xx we xxxxxx to xxxxxx and xxxxxxxxx the xxxxx for xxx rsquo xx my xxxxxxx the xxxxxxx tried xx abide xx the xxxxxxxxx World xxxx It xx because xxx auditor xxxxx his xxxx to xx faithful xxxx his xxxx as xx person xx is xxxx the xxxx He xxxxx genuinely xxx adequately xxx the xxxxxxx as xx genuinely xxxxxxxx the xxxx It xxxxx that xxx auditor xxxxxx his xxxx like xxx Lord xxxx nbsp xxxx Below xx a xxxxx from xxxxx to xxxxxxx my xxxxxxx on xxxxxxxxx World xxxx nbsp xxxx Romans xxx quot xxx love xx genuine xxxxx what xx evil xxxx fast xx what xx good xxx quot xxxxxxxxxxxxxxxxxx standard xx no xxxx Default xxxxxxxxx at xxxxx pcaobus xxx oversight xxxxxxxxx archived-standards xxxxxxxxxxxxxxxxxxxxxxxxx standards-interpretations xxxxxxx Auditing xxxxxxxx Accessed xxx Internal xxxxxxx deficiencies xx audits xx date xxxxxxxx Control xxxxxxxxxxxx in xxxxxx Available xx https xxx gfoa xxx materials xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx Accessed xxx Kenton x b xxxxxxxx controls xxxxxxxxxx types xxx importance xxxxxxxxxxxx Available xx https xxx investopedia xxx terms x internalcontrols xxx Accessed xxx Plc x no xxxx Wells xxxxx amp xxx Co xxxxxxx Profile x Overview xxxxxxxxxx Available xx https xxx globaldata xxx company-profile xxxxxxxxxxxx co xxxx Wells xxxxx Co xxx and xxxxxxxxxxxx C xxxxx gh xxxxxxxx May xx date xxxx are xxx types xx internal xxxxxxxx mdash xxxxxxxxxx - xxxxxxxxxxx Available xx https xxxxxxxxxxx com xxxxxxxxx what-are-the- xxxxxxxxxxxxxxxxxxxxxxxxxxx Accessed xxx Wells xxxxx amp xxx Company xxx Company xxxxxxx amp xxx Facts xxxxx Finance xxxxxxxxx at xxxxx finance xxxxx com xxxxx WFC xxxxxxx guccounter xxx amp xxxx referrer xxx cHM xx d xxx vZ xxxxxxxx amp xxx guce xxxxxxxx sig xxxxxxxxxxx hcijzDWbE xxx CJAY xxx BioHZsw xxx gFCyqOjCvaI xx WtCROJke xxxxxx vJRxHp x We xxxxx Md xxxxxxxxx jePMBFoKYS xxxxx KT xxxxxxxxxxxxxxx cNq xx u xxx Z xxxxxxxxxxxx Accessed xxxMore Articles From Accounting
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