Using the text and other sources you choose to bring in, provide answers to the questions below and submit your work as a 2 – 4 page Word document in apa format. Except where direct quotes are clearly cited per APA guidelines.

QUESTION #1

Discuss the major factors in todays economy that have made the need for independent audits much greater than it was 50 years ago.

QUESTION #2

List and thoroughly describe the four major types of audit services CPA’s perform. Select the one you believe is most important and explain why.

QUESTION #3

What roles does the SEC perform? What is their relationship to auditing?

QUESTION #4

Thoroughly describe and distinguish between generally accepted auditing standards and generally accepted accounting principals.

QUESTION #5

What is the relationship between international Standards on auditing and U.S Generally accepted Auditing Standards? How might it evolve in the future?