Determine who was in violation or compliance of the Aspic’s Code of Professional Conduct in this case study and analyze the key reasons why they were or were not in compliance. Provide support for the rationale. 3. Analyze the actions taken by Cardinal’s outside auditors and evaluate the level of efficiency of the audit risk management in this case study. Provide support for the rationale. 4. Determine whether or not the five (5) components of internal control were being followed. Support the response with at least two (2) examples. 5.
Create n argument for or against whether auditors have a responsibility to assess the judgment of the decisions made by Cardinal’s management. Support the argument. 6. Use at least two (2) quality academic resources in this assignment. Note: Wisped and similar type Websites do not qualify as academic resources. Your assignment must follow these formatting requirements: Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow PAP or school-specific format.
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Check with your professor for any additional instructions. Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. The specific course learning outcomes associated with this assignment are: Analyze the process and regulatory requirements for professional ethical decision making.
Analyze the critical factors of business, audit, and planning risks, and the process of managing these risks in audit engagements. Analyze an audit framework and assessment process for evaluating the effectiveness of internal controls related to financial reporting. Use technology and information resources to research issues in auditing. Write clearly and concisely about auditing using proper writing mechanics. Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric found here.