Background Information: In this project you are to assume that you are the audit partner on the...

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Accounting

Background Information:
In this project you are to assume that you are the audit partneron the audit engagement of Earthwear Clothiers, Inc. (Earthwear).Earthwear is a U.S. publicly traded company and is subject to therules and regulations of the Public Company Accounting OversightBoard (United States). It is classified as an “accelerated filer”under the rules of the Securities and Exchange Commission(SEC).
Your firm has been engaged to perform an audit of the financialstatements of Earthwear's calendar year ended December 31, 2017.Your audit will include:
-Issuance of an Engagement Letter
-Timely quarterly reviews
-An audit of Earthwear’s internal control over financialreporting
-An audit of Earthwear’s Financial Statements for the year thenended
-Issuance of a Management Letter concerning findings andrecommendations
Earthwear has an audit committee of the board of directorscharged with oversight of financial reporting and disclosure. Whileyou are conducting your audit of Earthwear, you and your audit teamare expected to meet with the audit committee on severaloccasions.
Required Task:
Prepare a calendar of your proposed meetings with the auditcommittee on a month by month basis. For each meeting you shouldidentify the information (matters) that you should communicate tothe audit committee.

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3.6 Ratings (655 Votes)

We can schedule monthly meetings with the client and a sample Agenda for the first meeting is hereunder Introduction of the team Scope of the audit 1 Filing date for 10K Annual Filing Assuming Earthwater is Large Accelerated Issuer Public Float700MM within 60 days from the year end Hence the team targets to issue audit See Answer

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Background Information:In this project you are to assume that you are the audit partneron the audit engagement of Earthwear Clothiers, Inc. (Earthwear).Earthwear is a U.S. publicly traded company and is subject to therules and regulations of the Public Company Accounting OversightBoard (United States). It is classified as an “accelerated filer”under the rules of the Securities and Exchange Commission(SEC).Your firm has been engaged to perform an audit of the financialstatements of Earthwear's calendar year ended December 31, 2017.Your audit will include:-Issuance of an Engagement Letter-Timely quarterly reviews-An audit of Earthwear’s internal control over financialreporting-An audit of Earthwear’s Financial Statements for the year thenended-Issuance of a Management Letter concerning findings andrecommendationsEarthwear has an audit committee of the board of directorscharged with oversight of financial reporting and disclosure. Whileyou are conducting your audit of Earthwear, you and your audit teamare expected to meet with the audit committee on severaloccasions.Required Task:Prepare a calendar of your proposed meetings with the auditcommittee on a month by month basis. For each meeting you shouldidentify the information (matters) that you should communicate tothe audit committee.