Free

Artical Analysis - Assignment Example

Comments (0) Cite this document
Summary
The PCAOB (Public Company Accounting Oversight Board) proposed some changes in the auditing standards for the purpose of enhancing the audit reporting model. The auditor’s report that is the source of communication between the company and its investors and several other users…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER93.3% of users find it useful
Artical Analysis
Read TextPreview

Extract of sample "Artical Analysis"

Article Analysis Summary The PCAOB (Public Company Accounting Oversight Board) proposed some changes in the auditing standards for the purpose of enhancing the audit reporting model. The auditor’s report that is the source of communication between the company and its investors and several other users of the financial statement, has not changed much since 1940. The amendments made in the audit report were based on the suggestion of the investors. The suggestions state to include the information including significant auditor judgment, areas associated with high risk in the audit of financial statement, as well as changes that affects the financial statement and several other significant matters like uncertainties, estimates and management judgments. The PCAOB believes in the fact that communicating these matters with the investors will help in reducing the uncertainties and doubts, as the management of the company has more important information than any of the third party.
The new audit report suggested by PCAOB maintained the authenticity of the old report by retaining its basic elements. However it focused on providing its users with much more information about the audit as well as the auditor. The PCAOB was confident that if the proposed changes are accepted by the organizations, then it will certainly increase the disclosure of the information of the auditor that would be beyond the traditional pass/fail auditing approach. It is presented in the article that if the proposed changes are accepted then they will certainly affect the responsibilities of the auditors, as well as the expectations of the clients, creditors and investors.
Opinion about the Article
I certainly agree with the opinion of the writer as the changes proposed by the PCAOB will make the report more relevant to the investor as they will have more significant information present in the report. The investors and other users of the financial report will not have to take the help of a third part to extract important information about the company, as the relevant information will already be mentioned by the company in the report. Another advantage of the amendments made in the traditional report is that it will present to the investor the value and strengths of the audit leading towards better public awareness.
The article states that the changes will certainly help the organization to get close to their investors and other users of the financial statement, which I believe is true. This is because the major goal of the standards and the amendments proposed by PCAOB is to improve the existing auditor reporting model that is being used by companies. This will allow the auditors to communicate the important information about every audit based on the procedures performed, to the investors. It is certain that communicating the critical audit matters to investors and other stakeholders will assist in making the auditor’s report more effective in terms of information, making it more useful and relevant. In terms of theory, these amendments seems to be a great idea for the investors and other users of the financial statement, however the PCAOB needs to make sure that companies implement these changes effectively on a practical level as well (Weirich and Reinstein).
Work Cited
Weirich, Thomas R. and Alan Reinstein. "The PCAOB’s Proposed New Audit Report." The CPA Journal (2014). Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Artical Analysis Assignment Example | Topics and Well Written Essays - 500 words - 1”, n.d.)
Retrieved from https://studentshare.org/english/1670980-artical-analysis
(Artical Analysis Assignment Example | Topics and Well Written Essays - 500 Words - 1)
https://studentshare.org/english/1670980-artical-analysis.
“Artical Analysis Assignment Example | Topics and Well Written Essays - 500 Words - 1”, n.d. https://studentshare.org/english/1670980-artical-analysis.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Artical Analysis

Journey artical

...?Motorola Inc and Its Stand in the Chinese Market One of the most interesting developments recently is Motorola Mobility Holdings Inc.’s smart phone sales in China which have been seen to be multiplying very rapidly in Plates even while numerous Google Inc. services for cellular phones are not even permitted in the country. That being said, this paper will try to review the strategies used by Motorola Inc., as well as the existing laws in China about international trade. First and foremost is an overview of Motorola Inc. as a company. It is an American multi-national communications company which is based in Illinois. It was known initially in 1928 as Galvin Manufacturing. By 1947, the company changed its name to Motorola though... Inc and Its ...
14 Pages(3500 words)Article

Artical Review

..., and in interaction with the teacher and other students. SIOP® teachers also provide time for students to process in English what they are hearing prior to answering questions or participating in discussion” (Vogt & Echevarria, 2007, p.102). The authors have already implemented detailed analysis of the model. They point out that it is very essential for the learning process to include the communication of teachers with students and of the students with other students. This makes students understand the instructions better as they receive the opportunity to discuss the instructions with each other and with the teacher. This helps them understand the instructions better and avoid misunderstandings. Vogt & Echevarria also emphasized...
3 Pages(750 words)Essay

Journal opinion artical

... up for a major legislative battle.” (USA Law…)Thus this law and order problem gives rise to serious economic implications as more security personnel will have to be employed at all levels. What happened at the school on the day of the shootout needs a careful and dedicated analysis. According to a report the gunman walked into the classroom where his mother was a teacher, shot his mother and then the students, others and then killed himself. Family is the basic unit of the society and the parents are its supporting pillars and they nurture the sapling of positive qualities in their children. In the present case, the mother’s flesh and blood rebels to the extent of killing her. Here is a serious issue for the sociologists... Macro & Micro...
3 Pages(750 words)Essay

Literature Review on Innovation

12 Pages(3000 words)Book Report/Review

Itlalian Literature

2 Pages(500 words)Essay

The represesentation of disability and illness in Victorian England novels

6 Pages(1500 words)Essay

Artical review

...Article Review The specific article is from the Dealbook section of the New York Times. The articles is d ‘Fraud Heightens Jeopardy of Investing in Chinese Companies’ and it investigates corruption issues in a number Chinese companies. One of the first issues the article considers is the nature of the purchasing stock in Chinese companies. While an investor who purchases stock in a Chinese company believes they have bought equity in that specific organization, in practice things are more complex. Oftentimes, as in the case of ChinaCast Education, the shares may hold no value. The article further considers corruption within this organization, noting that it recently disclosed that it could find its company, or authorized... Review The...
2 Pages(500 words)Essay

Artical

...1. Quality involves more than just the product. Expand on the quality characteristics listed in the article. How will the define quality? There is a cliché in marketing that goes “sell the sizzle not the burger” which meant that what the product can do is more important than the product itself. In the same manner, quality meant a guarantee that these products can do what the value proposition in their marketing says they will do. In the case of the mini grills, quality to the customer meant that they can use these products to grill meats, fishes and other foods. It meant that it will not break apart when they bring it with them since it is supposed to be portable and will last for a long time for the customer to get value... Quality...
1 Pages(250 words)Article

Artical

... 23rd June Question According to the article, Michael Eisner is not genuine in his relationship with the Ovitz. This is indicated by the statement that Eisner made in December 13, 1996 that indicated that he missed the Michael Ovitz creativity and good leadership skills. However, when Ovitz disclosed the fraudulent use of funds and high compensation after his termination, Eisner terms him as incompetent and a psychopath. Additionally, Eisner refers Ovitz as someone who is not trustworthy. Ironically, when he appeared in Los King Live, Eisner denies there were no problems between him and Ovitz. Another notable characteristic of Eisner is that he emulates dictatorial leadership style. For example, he consolidated his power... 23rd June Question ...
1 Pages(250 words)Assignment

Case study

12 Pages(3000 words)Case Study
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Assignment on topic Artical Analysis for FREE!

Contact Us