ACCOUNTING-For the BakFirn Corporation, an accounting audit of accounts payable

QUESTION

ACCT460-1204A-01 Professional Accounting

Assignment Name:

Unit 3 Discussion Board

Deliverable Length:

250 words

Details:

For the BakFirn Corporation, an accounting audit of
accounts payable, vendor invoices, and inventory material acceptance is in
progress. You notice that the three-way-match of pricing, amount, and units
is not matching. You go to your next-level supervisor—the supervisor of the
audit firm YOUCPA—and the supervisor informs you that you do not need to
worry so much because they are not within the materiality amounts. He
requests that you complete the outside audit as quickly as possible; the firm
is under a tight budget with this client.

What
do you believe your response should be in this situation?
Explain
your reasoning.

Grading Criteria

50%

What do you believe your response should be?

50%

Explain your reasoning.

Objective:

 Develop a thorough understanding of accounting standards
and principles.
 Fulfill the core accounting educational requirement to
sit for the CPA exam.
 Prepare to practice in public and private accounting
position.

ANSWER:

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