Best Case Questions

It can point out significant matters of the financial statements but does not provide assurance of their accuracy. Because reviews are generally not as rigorous as audits, considerably less evidence is typically collected in a review than in a comparable audit engagement. The issue with ZZZZ Best case is that the auditors review was not sufficient enough to review any material misstatements on the financial statements. 3. SAS 106 (AU 326), Audit Evidence, specifically identifies the principal management assertions that underlie financial statements.The existence/occurrence assertion was particularly critical for ZZZZ Best’s insurance restoration contracts. ZZZZ Best’s auditors obtained third-party confirmations to support the contracts, reviewed available documentation, performed analytical procedures to evaluate the reasonableness of the revenues recorded on the contracts, and visited selected restoration sites. * What were the limitations of the evidence that these procedures provided with regard to the management assertion of existence/occurrence? 8 points) The limitations of the evidence that these procedures provided with regard to the management assertion of existence/occurrence was that Minkow insisted on Ernst Whinney to sign a standard confidentiality agreement where it stated that Ernst Whinney will not be able to make any follow-up telephone calls to any contractors, insurance companies, the building owner, or other individuals involved in the restoration contract. This restriction effectively prohibited the auditors from corroborating the insurance restoration contracts with independent third parties. 4. George Greenspan testified before Congress that one method he used to audit the insurance restoration contracts was to verify that his client actually received payment on those jobs. * How can such apparently reliable evidence lead an auditor to an improper conclusion? (6 points) In Greenspan’s situation, his apparently reliable evidence was not from independent third party.When Greenspan confirmed the existence of ZZZZ’s insurance restoration contracts, he contacted Tom Padgett who at the time was an active and willing participant in Minkow’s fraudulent schemes. 5. Re: Predecessor-successor auditors: * What is the purpose of predecessor-successor auditor communications? * Which party, the predecessor or successor auditor, has the responsibility for initiating these communications?The successor auditor should obtain information from the predecessor auditor that will assist the successor auditor in determining whether to accept the engagement. Matters subject to the inquiry should include information that might bear on the integrity of management, disagreements with management as to accounting principles, auditing procedures, or similarly significant manners, communications to those charged with governance regarding fraud and illegal acts by clients, communications to management and those charged with governance regarding signi?

Think like a biologist Case Study Example | Topics and Well Written Essays - 250 words

Think like a biologist - Case Study Example Primarily, we repose on failure of the statement that the human eye is a result of evolution coming from the analysis of eye components and their cooperation while working. In particular, â€Å"If you look at these [evolutionary] schemes, they often very abruptly add a lens or a cornea† (Than, 2010), while there is no such a process in the world when a part of an organism appears from nowhere and instantly connects with other parts in functioning. Probably, there must be a stronger argument than that one according to which there has been a simple sightless organism at the beginning that has transformed into the highest creature (a human being) with the eye almost universally adoptable for numerous needs of its owner. As for the claim of intelligent design of the human eye it sounds more argumentative. Although, there is no written proofs representing peculiarities of eye functioning or visual perception of people in different times since creation of Adam and Eve, today’s researches evidence that the human eye is unique in its general mechanisms, which parts are inseparable, for they all actively participate in sense of sight and removal of any of them leads to the critical reduction in

Rabies Virus Research Paper Example | Topics and Well Written Essays - 1000 words

Rabies Virus - Research Paper Example The RNP complex along with the the viral RNA is comprised â€Å"of the proteins L (transcriptase), N (nucleoprotein), and NS (transcriptase-associated)† (Rupprecht). â€Å"These aggregate in the cytoplasm of virus-infected neurons and compose Negri bodies, the characteristic histopathologic finding of rabies virus infection. The M (matrix) and G (glycoprotein) proteins are associated with the lipid envelope. The G protein forms the protrusions that cover the outer surface of the virion envelope and is the only rabies virus protein known to induce virus-neutralizing antibody† (Rupprecht). Rabies virus can be either the fixed type or street (wild type) (Rupprecht). Incubation period In dogs, the incubation period is usually 3-6 weeks but it may range from 10 days to a year. In man, the incubation period is usually from 1-3 months though it may be as short as 10 days or as long as 3 years. Incubation period is usually short in persons bitten on the face or head and long in those bitten on the legs. Incubation period is shorter in children. (Ananthnarayanan) Reservoirs of infection and host range The rabies virus infects a wide range of hosts, including dogs and cats, raccoons, coyotes, skunks, foxes, bats, and human beings. Any warm-blooded animal can be infected with rabies; however, some animals like wolves, foxes, and coyotes are more susceptible (Ananthnarayanan) Transmission About 99.8% of reported cases of rabies are due to bites of animals. The â€Å"other forms of transmission that have been reported includes contamination of mucous membranes, faulty vaccines, corneal transplants, and aerosol transmission† (Rupprecht) Signs and symptoms Rabies virus affects primarily the central nervous system, and causes an acute infection. In humans, there are five clinical stages: â€Å"the incubation period, prodrome, acute neurologic period, coma, and death† (Rupprecht) The prodromal period usually lasts from 2 to 10 days and clinical sympt oms are first noticed during this stage. The symptoms may include fever, general malaise, fatigue, cough, sore throat, dyspnea, nausea, vomiting, anorexia, dysphagia, abdominal pain, diarrhea, irritability, vertigo, headache, anxiety, nervousness and apprehension (Rupprecht). Some significant features like â€Å"insomnia, nightmares, depression, increased agitation, photophobia, priapism, and increased libido, may also occur† (Rupprecht). In that case, it suggests the presence of psychiatric disturbances encephalitis, or other brain abnormalities (Rupprecht). A pathognomonic feature in the acute neurologic period is difficulty in drinking together with intense thirst. Attempts to drink brings painful spasms of pharynx and larynx, producing choking that patients later develop a dread for even the sight or sound of water (hydrophobia) (Scheld & Whitley) In the acute neurologic period, the disease is categorized as dumb rabies if paralysis is the main clinical feature and as fur ious rabies if the symptom of hydrophobia is the main clinical feature. Both types of rabies may show signs like â€Å"focal and generalized convulsions, muscle fasciculations, hyperventilation, paresthesia, hypersalivation and nuchal rigidity† (Rupprecht) After the acute neurologic period ends, the patient may develop a rapid, irregular type of breathing. Very soon, paralysis and coma develops. Unless ventilator support is instituted, the patient may