ACC 499 Week 9 DQ 1 Internal Controls and DQ 2 Apple,
Inc
· Examine current safeguards available to reduce the risks of the violation you identified. Discuss the specific safeguard you would recommend to reduce risks if confronted with a similar situation. ===================================================
ACC 499 Week 9 DQ 1 Internal Controls and DQ 2 Apple,
Inc
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Week 9 Discussion 1 " Internal Controls " Please respond to the following: �From the e-Activity, examine 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. �Contrast 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. Week 9 Discussion 2 " Apple, Inc." Please respond to the following: �From the case study, in 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 rationale. �From the case study, examine 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. ===================================================