ACC 499 Week 9 DQ 1 Internal Controls and DQ 2 Apple, Inc
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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.