StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Artical Analysis - Assignment Example

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 paper File format: .doc, available for editing
GRAB THE BEST PAPER93.2% of users find it useful
Artical Analysis
Read Text Preview

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 ArticleI 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 CitedWeirich, 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

CHECK THESE SAMPLES OF Artical Analysis

Summary and critical analysis of journal article

3.... Open-ended survey, in these 411 tourists groups, consisting of 1,089 individuals interviewed.... Participants from four different walking ghost tours companies were surveyed, over six nights; three in July 2003 and three nights over Halloween weekend of the same year. … Ghost walk Tourism in Savannah, Georgia refers to different type of tourist experience offers to the tourists....
4 Pages (1000 words) Essay

Discourse Analysis of the Article

The author examines an article entitled "Watch your language!... in the Magazine OneLife.... The article hidden within there is a serious contradiction, so the author states  that this article is a relevant example for showing language, power, and society in an interactional context… OneLife is a magazine for the big masses, and it publishes light pieces of literature that the readers consume without any second thought....
12 Pages (3000 words) Essay

Diagnosis of Urinary Tract Infections

The laboratory analysis of UTI diagnosis must be timely with appropriate feedback on antimicrobial sensitivity (Graham and Galloway, 2001) for proper treatment of this disease.... It is an established fact that no single urinalysis method, not even urine sediment analysis… In most cases, the conventional laboratory procedure for urinalysis consists of analysis by test strips and then a full-scale microscopy of the urine sediments when the test strips are positive (Delanghe et al....
2 Pages (500 words) Essay

Motivating Boys and Motivating Girls

The articles present accurate pictures of the said topics At the same time they aim to deliver specific suggestions through analysis of the research outcomes.... by Marsh and Martin and You don't bring me flowers any more: a fresh look at the vexed issue of teacher status by Rice, explore into the problem areas that have come up in the… It is understood from the article titles that student motivation and the teacher status factors have become pressing issues that require immediate attention....
10 Pages (2500 words) Essay

CRITICAL ANALYSIS OF AN ARTICLE

This title, although somewhat long, is appropriate because it is… xplanatory in nature; it explains what the study/article is about, for instance, it tells the reader that the article is about a control framework that results from strategic lean manufacturing initiative. It should be noted that, the abstract for this article is brief, concise Critical analysis of an Article By Presented A control framework: Insights from evidence on lean accountingByFrances A....
1 Pages (250 words) Essay

Critical analysis

In Mahtani (2014), the main purpose is to Critical analysis This research shows critical analysis of space and multiracialism as described by prominent Daniel McNeil in the article titled "I.... Am.... A Light Grey Canadian” and Minelle Mahtani article “Mixed Race Mythologies”....
2 Pages (500 words) Coursework

ARTICLE ANALYSIS

Through critical analysis the concerns raised by the article are relevant since ARTICLE analysis The article Job Growth Fails to Help Paychecks of Workers by Dionne Searceyjan published on 9th January, gives a clear insight into macroeconomic concern discussed in the book chapter for it addresses issues of unemployment and economic growth.... Through critical analysis the concerns raised by the article are relevant since various microeconomic units or players contribute to the aggregate macroeconomic goals....
2 Pages (500 words) Assignment

Critical Analysis of an Article

The essay ''Critical analysis of an Article''presents a critical analysis of the article Can Earth Hour Galvanize the Global Warming Fight written by Bryan Walsh.... The article was published in Time Science Magazine in 2009.... It is mainly focused on the issue of global warming and the significance of the idea of Earth Hour....
5 Pages (1250 words) Essay
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.
Contact Us