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 Company xxxxxxx of xxxxx Fargo xxx Company xxxxx Fargo xx a xxxxxxxxxxx and xxxxxxx company xx provides xxxxxxxxx services xx retail xxx wholesale xxxxxxx and xxxxxx management xxxxxxxx to xxxxxxxxxxx businesses xxxxxxxxxxxxxx individuals xxx institutions xxxx it xxxxx in xxxx segments xxxx are xxxxxxxx Banking xxx Lending xxxxxxxxxx Banking xxxxxxxxx and xxxxxxxxxx Banking xxx Wealth xxx Investment xxxxxxx It xxx done xx the xxxx of xxxxxxxxxxxx The xxxxxxxx Banking xxx Lending xxxxxxx of xxx company xxxxx to xxxxxxx various xxxxxxxxx products xxx services xxx consumers xxx small xxxxxxxxxx The xxxxxxxx include xxxxxxxx checking xxx saving xxxxxx cards xxx debit xxxxx including xxxxxxx services xxx home xxxx personal xxx small xxxxxxxxxx Through xxx Commercial xxxxxxx segment xxx company xxxxxxxx financial xxxxxxxxx in xxx form xx banking xxxxxxxx and xxxxxx products xx many xxxxxxxxxx and xxxxxxxxxxxxxx secured xxxxxxx and xxxxxxxx and xxxxxxxxxx like xxxxxxxx management xx various xxxxx of xxxxxxxxx like xxxxxxx companies xxxxxxxxxxxx companies xxx even xxxxxx companies xxx products xxx services xx the xxxxxxxxx and xxxxxxxxxx Banking xxxxxxx comprise xxxxxxx for xxxxxxxxx investment xxxxxxx treasury xxxxxxxxxx and xxxxxxx services xxxxx services xxx for xxxxxxxxxx and xxxx estate xxx those xxxxxx a xxxxx income xx equity xxx sales xxx trading xxxxxxxxx and xxxxxxxxxx research xxxxxxxx This xxxxxxx offers xxx services xxxxxxxxx to xxxxxxx markets xxxxxx for xxxxxxx markets xxxxxxx and xxxxxxxxx products xxx services xxx given xx corporate xxxxxxxxxx real xxxxxx governments xxx institutional xxxxxxx The xxxxxx and xxxxxxxxxx Management xxxxxxx offers xxx products xxx services xx the xxxxxxx high-net-worth xxx ultra-net-worth xxxxxxx The xxxxxxxx include xxxxxxxx wealth xxxxxxxxxx brokerage xxxxxxxxx planning xxxxxxx private xxxxxxx and xxxxx and xxxxxxxxx products xx has xxx branches xxxxxxxx It xxxxxxxx through xxxx mobiles xxxxxxxxxxx distribution xxxxxxxx This xxxxxxx has xxx headquarters xx San xxxxxxxxx Californian xxx the xx Its xxxxxxxxxx was xxxx in 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 xxx Internal xxxxxxx over xxxxxxxxx reports xx used xx a xxxxxxx for xxxxxxxxxx and xxxxxxxx It xxxxxxx that x company xxxxxxx the xxxxx and xxxxxxxxxxx and xxxxxxxx the xxxxxx of xxxxx It xxxxx to xxxxxxxx the xxxxxxxx of xxxxxxxxx reporting 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 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 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 x Do xxx agree xxxx KPMG x position xxxx Wells xxxxx s xxxxxxxx sales xxxxxxxxx did xxx involve xxx company x ICFR xxxxxx your xxxxxx ANS xxx I xxxxx with xxxx s xxxxxxxx that xxxxx Fargo x improper xxxxx practices xxx not xxxxxxx the xxxxxxx s xxxx It xx because xx involved xxxxxxx material xxx pervasive xxxxxxxxx over xxx financial xxxxxxxxx Fraud xxxxxxxxxx like xxxxxxxxxx money xx one xxxxxxxxxx account xx any xxxxx created xxxxxxxxxxxx account xxx not xxxxxxxxxx in xxxxxxxx the xxxxxxxxx amounts xx the xxxxxx as xxx overall xxxxxxxx remained xxx same xxx could xxx change xxx financial xxxxxxxxxx materially xxxx illegal xxxxxxxxxx could xxx even xxxxx any xxxxxxxx impact xx them xxx affected xxxxx reputation x How xxxx the xxxxx s xxxxxxxx Standards xxxxx define x material xxxxxxxx in xxxxxxxx control xxx does xxx PCAOB xxxxxx a xxxxxxxx weakness xx ICFR xxxx factors xxxxxx auditors xxxxxxxx in xxxxxxxx whether xx ICFR xxxxxxxxxx qualifies xx a xxxxxxxx weakness xx ICFR xxx The xxxxxx Auditing xxxxxxxxx Board xxxxxxx a xxxxxxxx weakness xx examining xx entity x internal xxxxxxx over xxx financial xxxxxxxxx PCOAB xxxxxxx material xxxxxxxx as xxx situation xxxxx the xxxxxxxx s xxxxxxxx wrong xxxxxxxxx statement xx a xxxxxxx etc xxx not xxxxxxxx within xxx stipulated xxxx The xxxxxxx that xxx auditors xxxxxxxx in xxxxxxxx whether xx ICFR xxxxxxxxxx qualifies xx a xxxxxxxx weakness xx ICFR xx An xxxxxxx should xxxxx its xxxxxxxxx to xxxx a xxxxx on xxx statements xxx correct xxxx on xxxx If xxx company xxxx not xxxxx its xxxxxxxxx to xx so xx time xxx as xxx the xxxx then xx comes xxxxx material xxxxxxxx Q xxxxx Fargo x independent xxxxx members xxxxxxxxx that xxx bank x Decentralized xxxxxxxxx structure xxx one xxxx cause xx the xxxxxxx Do xxx believe xxx decentralized xxxxxx of xxxxx Fargo x corporate xxxxxxxxx qualified xx a xxxxxxxx weakness xx Wells xxxxx s xxxx Why xx why xxx ANS xxx I xxxxxxx that xxx decentralized xxxxxx of xxxxx Fargo x corporate xxxxxxxxx qualified xx a xxxxxxxx weakness xx Wells xxxxx s xxxx It xx because xxxxx amp 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 x Does xx audit xxxx of x public xxxxxxx have x responsibility xx apply xxxxx procedures xxxxxxxx to xxxxxxxxx whether xxx client xxx committed xxxxxxx acts xxxx don 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 ANS xx an xxxxx firm xx a xxxxxx company xxxx not xxxx a xxxxxxxxxxxxxx to xxxxx audit xxxxxxxxxx intended xx determine xxxxxxx the xxxxxx has xxxxxxxxx illegal xxxx that xxx t xxxxxxxx impact xxx financial xxxxxxxxxx It xx because xxx illegal xxxxxxxx does xxx show xxx impact xx the xxxxxx of xxx financial xxxxxxxxx The xxxxxxx s xxx is xx follow xxx statutes xxx rules xxxxxxx the xxxxxxxxx effect xx the xxxxxxxx wealth xxxxxx than xxxxxx the xxxxxxxx If xxx auditor xxxxxxxxx any xxxxxxx acts xx the xxxxxx then xxx auditor xxxx inform xxx audit xxxxxxx before xxxxxxx the xxxxxxx s xxxxxx It xxx be xxxx in xxxxxxx or xxxx form xxx the xxxxxx communication xxxxxx be xxxxxxxxxx Q xxxxx the xxxxx Fargo xxxxxxx was xxxxxxxxx several xxxxxxx pointed xxx that xxxx had xxxxxx as xxx company x audit xxxx since xxxxxxx how xxx length xx an xxxxx firm x tenure xxx influence xxx ICFR xxxxxxxxxx for x public xxxxxxx client xxx The xxxxxx of xx audit xxxx s xxxxxx may xxxxxxxxx its xxxx assessment xxx a xxxxxx company xxxxxx in xxxx way xxxx time xx working xxx a xxxxxxx an xxxxx firm xxxxxxx familiar xxxx that xxxxxxx s xxxxxxxxx It xxxx helps xxx firm xx provide xxxxxx judgments x statement xx the xxxxxxxxx World xxxx is xxxxxx as xxxxxxx 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 s xxxxx and xxxxxxxxxxxxxx as xx submit xx Christ xxx influence xxx world xxx Him 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 xxxxx is x verse xxxx Bible xx support xx opinion xx Christian xxxxx View xxxxxx quot xxx love xx genuine xxxxx what xx evil xxxx fast xx what xx good xxxx ReferencesAuditing xxxxxxxx no xx date xxxxxxx Available xx https xxxxxxx org xxxxxxxxx standards xxxxxxxxxxxxxxxxxx pre-reorganized-auditing- xxxxxxxxxxxxxxxxxxxxxxxxx details xxxxxxxx Standard xxxxxxxx May xxxxxxxx control xxxxxxxxxxxx in xxxxxx no xxxx Internal xxxxxxx Deficiencies xx Audits xxxxxxxxx at xxxxx www xxxx org xxxxxxxxx internal-control-deficiencies-in-audits xxxxxxxx May xxxxxx W x Internal xxxxxxxx Definition xxxxx and xxxxxxxxxx Investopedia xxxxxxxxx at xxxxx www xxxxxxxxxxxx com xxxxx i xxxxxxxxxxxxxxxx asp xxxxxxxx May xxx G xx date xxxxx Fargo 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 riskoptics x reciprocity xxxxxxxxx at xxxxx reciprocity xxx resources xxxxxxxxxxxxx -types-of-internal-controls xxxxxxxx May xxxxx Fargo xxx Company xxx Company xxxxxxx amp xxxxx Yahoo xxxxxxx Available xx https xxxxxxx yahoo xxx quote xxx profile xxxxxxxxxx amp xxxx referrer xxx cHM xx d xxx vZ xxxxxxxx amp xxxx referrer xxx AQAAAAzoGhV xxxxxxxxx WXI xxxx CFk xxxxxxx FGa xxxxxxxxxxx ph xxxxxxxx MCPlky xxxxxx a xx yYjSu xx vRXzTvpCp xxxxxxxxxx yXbQI xx YgcERmaoiYuythO xxx jQ x iLp x EkkbgVyhNcqh 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