For each engagement described below, indicate whether the engagement is likely to be conducted under international...
For each engagement described below, indicate whether the engagement is likely to be conducted under international auditing standards, AICPA auditing standards, or PCAOB auditing standards.
|
Engagement |
Likely to be conducted under: |
|
|---|---|---|
|
a. |
An audit of a public company headquartered in the U.S. listed only on U.S. exchanges. |
|
|
b. |
An audit of a not-for-profit organization with operations in Pennsylvania. |
|
|
c. |
An audit of a private company in the U.S. with public debt traded on a U.S. exchange. |
|
|
d. |
An audit of a U.S. private company to be used for a loan from a publicly traded bank. |
|
|
e. |
An audit of a German private company with public debt in Germany. |
|
|
f. |
An audit of an international nonprofit relief agency headquartered in Switzerland. |
|
|
g. |
An audit of a U.S. broker-dealer registered with the SEC. |
|
|
h. |
An audit of a Mexico-based company whose stock is listed on stock exchanges in the U.S. and whose financial statements will be filed with the SEC. |
|
|
i. |
An audit of a U.S. public company that is a subsidiary of a Japanese company that will be used for reporting by the parent company in Japan. |
Homework Answers
|
Engagement |
Likely to be conducted under: |
||||||
|---|---|---|---|---|---|---|---|
| a. |
An audit of a public company headquartered in the U.S. listed only on U.S. exchanges. |
PCAOB | |||||
|
b. |
An audit of a not-for-profit organization with operations in Pennsylvania. |
AICPA | |||||
|
c. |
An audit of a private company in the U.S. with public debt traded on a U.S. exchange. |
PCAOB | |||||
|
d. |
An audit of a U.S. private company to be used for a loan from a publicly traded bank. |
AICPA | |||||
|
e. |
An audit of a German private company with public debt in Germany. |
International auditing std. | |||||
|
f. |
An audit of an international nonprofit relief agency headquartered in Switzerland. |
|
|||||
|
g. |
An audit of a U.S. broker-dealer registered with the SEC. |
PCAOB | |||||
|
h. |
An audit of a Mexico-based company whose stock is listed on stock exchanges in the U.S. and whose financial statements will be filed with the SEC. |
PCAOB | |||||
|
i. |
An audit of a U.S. public company that is a subsidiary of a Japanese company that will be used for reporting by the parent company in Japan. |
|
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