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Respond on Audit Committee’s Issues
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the importance of the audit committee oversight related to the quality of
the internal controls of an organization. Analyze the audit committee’s
responsibilities regarding risk assessment and internal control
monitoring. Indicate whether or not the audit committee is the best to
perform the function.
the opinion provided by the independent auditor concerning management’s
assessment of internal controls over the financial reporting system with
the audit opinion on the financial statements in general. Argue for
providing both a qualified opinion over the financial reporting system and
an unqualified opinion on the financial statements.
2009, the FASB issued a ruling related to income recognition from multiple
element sales involving software to various stakeholder groups. Evaluate
the impact of Apple’s retrospective restatement of its financial
statements resulting from FASB’s ruling. Provide support for your
the influence of both Apple’s reported deferred revenue and the lobbying
by Apple executives on FASB’s ruling. Indicate your agreement or
disagreement with Apple’s attempt to influence FASB’s ruling.
I need short paragraphs for these discussion questions please. Nothing profound is needed thank you APA references if needed