PROFESSIONAL JUDGMENT QUESTIONS It is recommended that you read the Professional Judgment Introduction found at the beginning of this book prior to responding to the following questions. [8] How is professional skepticism related to professional judgment? Describe a few factors that might be clouding Scott’s professional skepticism. [9] Consider the judgment trap of solving the wrong problem. What are some problems that Scott is trying to solve? What is the problem he should be trying to solve? Describe how he might reconcile the two objectives so that the problem becomes simpler to resolve?
============================================== ACC 546 Individual Assignment 1.1 Ocean Manufacturing, Inc FOR MORE CLASSES VISIT www.acc546paper.com
2. What nonfinancial matters should be considered before accepting Ocean as a client? How important are these issues to the client acceptance decision? Why? 5. (A). Prepare a memo to the partner making a recommendation as to whether Barnes and Fischer should or should not accept Ocean Manufacturing, Inc. as an audit client. Carefully justify your position in light of the information in the case. Include consideration of reasons both for and against acceptance and be sure to address both financial and nonfinancial issues to justify your recommendation. 6. (A). How might the confirmation tendency affect the client acceptance decision? 6. (B). How might the overconfidence tendency come into play in the client acceptance decision?
============================================== ACC 546 Individual Assignment Case 5.3 Red Bluff Inn & CafĂŠ