Please do not accept if you do not understand the assignment or
cannot meet the deadline:
I need help with writing a memo 500 – 600 words to address that
the company my firm is preparing an audit for does not have an explicit Code of
Conduct written and there is no financial expert on the audit committee. We will
need to address the objectives below:
In this assignment, you will work with the fact that RPC ‘s board
does not have an explicit Code of Conduct written. There is no financial expert
on the audit committee.
Develop a memorandum which advisesRestorative Pharmaceutical Corporation’s(RPC) management on this fact regarding RPC and revealed to you
by your senior audit
manager and firm partner, Scott Payne, CPA regarding the lack of a code of conduct and lack of a financial
expert on the audit committee. Draw your advisement from regulatory
requirements (such as the Sarbanes-Oxley Act), the Committee of Sponsoring
Organizations Integrated Framework, and other relevant best practice.
- Objectives:
- Analyze the unqualified
audit report and identify the required circumstances and wording for the
modification of the standard audit report. - Analyze transaction
cycles. - Develop components of an
audit. - Discuss the application
of audit theory, GAAS, and a professional code of practice in conducting
an audit. - Explain audit review and
documentation. - Judge the levels of risk
and create a final audit plan. - Use team, problem-solving
skills and effective communication techniques to collaborate on a
project.
Part 2:
The student should identify the requirements of the Sarbanes
Oxley Act of 2002 which require the inclusion of a financial expert and a Code
of Ethics for the company, specifically requirements of Sections 406 and 407.
Link to Securities and Exchange Commission Web site:https://www.sec.gov/rules/final/33-8177.htm
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