Overview of Audits
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- Date Submitted: 05/09/2010 06:28 AM
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Overview of Audits
Independent Certified Public Accountants (CPAs) function in an atmosphere of change and it can provide an affluence of responsibilities and career opportunities. CPAs must possess integrity, objectivity, and aptitude when working in this industry. The American Institute of CPAs establishes professional constraints for CPAs to accomplish research while publishing materials on an array of subjects in reference to auditing, accounting, and assurance and attestation services. Through this paper the CPA profession and licensing requirements will be examined as well as how a CPA can be of value, and critiquing current auditing standards. The importance of ethics in the auditing process, role of reducing information risks for decision makers and how independent audits can help an organization will also be analyzed to gain a clear understanding of audits.
Examine the CPA Profession and Licensing Requirements
CPAs provide many services while serving in a capacity as an independent auditor. CPAs can also serve as tax advisors or financial advisors for nonprofit organizations, government, individuals and businesses. CPAs have supplemented their usual audit and tax duties with many services today. Some of those services include providing assurance, attestation, suggest tax planning tactics, evaluate an organizations accounting systems and even consulting for business problems. CPAs must uphold a stringent code of professional conduct.
The State of Florida currently requires a candidate to possess 150 credit hours to receive the CPA license but does not need the 150 hours to sit for the exam. Once the candidate passes the examination, then they will be mailed the CPA licensure package from the Florida Board of Accountancy. As soon as the licensure package has been received the applicant has one year to apply for the CPA license and if the applicant does not apply within the one year period then the exam grades will expire and the applicant...
Independent Certified Public Accountants (CPAs) function in an atmosphere of change and it can provide an affluence of responsibilities and career opportunities. CPAs must possess integrity, objectivity, and aptitude when working in this industry. The American Institute of CPAs establishes professional constraints for CPAs to accomplish research while publishing materials on an array of subjects in reference to auditing, accounting, and assurance and attestation services. Through this paper the CPA profession and licensing requirements will be examined as well as how a CPA can be of value, and critiquing current auditing standards. The importance of ethics in the auditing process, role of reducing information risks for decision makers and how independent audits can help an organization will also be analyzed to gain a clear understanding of audits.
Examine the CPA Profession and Licensing Requirements
CPAs provide many services while serving in a capacity as an independent auditor. CPAs can also serve as tax advisors or financial advisors for nonprofit organizations, government, individuals and businesses. CPAs have supplemented their usual audit and tax duties with many services today. Some of those services include providing assurance, attestation, suggest tax planning tactics, evaluate an organizations accounting systems and even consulting for business problems. CPAs must uphold a stringent code of professional conduct.
The State of Florida currently requires a candidate to possess 150 credit hours to receive the CPA license but does not need the 150 hours to sit for the exam. Once the candidate passes the examination, then they will be mailed the CPA licensure package from the Florida Board of Accountancy. As soon as the licensure package has been received the applicant has one year to apply for the CPA license and if the applicant does not apply within the one year period then the exam grades will expire and the applicant...