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Assignment 1 
1. Discuss the followings 
a) To do an audit, it is necessary for information to be in a verifiable form and some 
criteria by which the auditor can evaluate the information. 
i. What information and criteria would an independent CPA firm use when 
auditing a company’s historical financial statements? 
ii. What information and criteria would an Internal Revenue Service auditor use 
when auditing that same company’s tax return? 
iii. What information and criteria would an internal auditor use when performing 
an operational audit to evaluate whether the company’s computerized payroll 
processing system is operating efficiently and effectively? 
b) Discuss the similarities and differences between the roles of independent auditors, 
OFAG auditors, internal revenue agents, and internal auditors. 
Assignment 2 
1. Discuss the followings: 
a) The similarities and differences between financial statement audits, operational 
audits, and compliance audits. Give an example of each type. 
b) The differences and similarities between the roles of accountants and auditors. 
What additional expertise must an auditor possess beyond that of an accountant?

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Assignment 1

  • 1. Assignment 1 1. Discuss the followings a) To do an audit, it is necessary for information to be in a verifiable form and some criteria by which the auditor can evaluate the information. i. What information and criteria would an independent CPA firm use when auditing a company’s historical financial statements? ii. What information and criteria would an Internal Revenue Service auditor use when auditing that same company’s tax return? iii. What information and criteria would an internal auditor use when performing an operational audit to evaluate whether the company’s computerized payroll processing system is operating efficiently and effectively? b) Discuss the similarities and differences between the roles of independent auditors, OFAG auditors, internal revenue agents, and internal auditors. Assignment 2 1. Discuss the followings: a) The similarities and differences between financial statement audits, operational audits, and compliance audits. Give an example of each type. b) The differences and similarities between the roles of accountants and auditors. What additional expertise must an auditor possess beyond that of an accountant?