ACC 490 Week 1 Generally Accepted Auditing Standards Paper ACC 490 Week 2 Individual Ch. 1 Textbook Exercise ACC 490 Week 2 Learning Team Auditing, Attestation, and Assurance Services Paper ACC 490 Week 3 Individual Ch. 5, 6, & 7 Textbook Exercises ACC 490 Week 3 Learning TeamCh. 6 & 7 Textbook Exercises ACC 490 week 3 Learning TeamAssessing Materiality and Risk Simulation ACC 490 Week 4 IndividualCh. 8, 10, & 11 Textbook Exercises ACC 490 Week 4 Learning TeamApollo Shoes Case Assignment ACC 490 Week 5 IndividualCh. 11 & 13 Textbook Exercises ACC 490 Week 5 Learning TeamAudit Sampling Case Memo and Presentation

1. ACC 490 Week 1 Generally Accepted Auditing Standards
Paper
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Generally Accepted Auditing Standards Paper
Prepare a 700-1,050-word paper in which
you explain the nature and functions of
auditing. Relate your explanation to the
audit functions in your organization, or an
organization with which you are familiar. In
your paper, be sure to address the following:
a. Describe the elements of the Generally
Accepted Auditing
Standards (GAAS).
b. Describe how these standards apply to
financial, operational, and compliance
audits.
c. Explain the effect that the Sarbanes-
Oxley Act of 2002, and the Public Company
Accounting Oversight Board (PCAOB) will

2. have on audits of publicly traded companies.
d. Discuss the additional requirements
that are placed on auditors from this Act,
and the actions of the PCAOB
Week 1 – DQ 1
Why is public accounting often viewed as a guarantor of results, or
even as a provider of assurance that one’s investment is of high
quality? To what extent is it reasonable to view the auditor as a
guarantor? Explain. To what extent do you believe that user
expectations of the public accounting profession appear to be
unwarranted? Explain.
Week 1 – DQ 2
The Sarbanes-Oxley Act of 2002 has been described as the most far-
reaching legislation affecting business since the
Week 1 – DQ 2
The Sarbanes-Oxley Act of 2002 has been described as the most far-
reaching legislation affecting business since the passage of the 1933
Securities Act. What are the specific portions of the legislation that
affect the external audit profession, and how do they affect the
profession? How does the legislation affect the internal audit
profession? What are some activities that are implied in the
legislation, as well as activities that will likely emerge as companies
implement various provisions of the act? Do you believe the
legislation enhances the power and prestige of the audit profession,

3. or alternatively, does it decrease both the power and prestige of the
profession? Explain.