In comprehensive paragraphs, answer requirements A to E. You will have 5 paragraphs total of four to five sentences each.
A) Describe the ASB’s Clarity Project. Why is this so important for the auditing profession?
B) What is “forward-looking” information and why they are considered to be important enough to include in the MD&A. What are the auditor’s professional and ethical responsibilities to audit such information?
C) Go to http://pcaobus.org/Standards/Auditing/Pages/default.aspx (Links to an external site.). Read one of the auditing standards and summarize it. What did you find interesting or surprising about it?
D) How Tax Cut and Jobs Act will impact the individual tax payers?
E) Do you think the IRS’s requirement of paid tax preparers having to have a PTIN will make a difference in terms of crooked tax preparers?