Famous Frauds
SOX was implemented in 2002 as a response to the Enron and WorldCom collapses. What does SOX stand for?
Sarbanes-Oxley Act
In what movie does Ben Affleck play an accountant with a secret life?
The Accountant
What key strokes can be used to remove the fill from a cell?
Alt H H N
What AI software do we use to make journal entry selections?
MindBridge
What does PBC stand for?
Prepared (or provided) by client
Sam Bankman Fried was the Co-Founder and CEO of what Company before it collapsed and filed bankruptcy?
FTX
This organization sets accounting standards for public companies in the United States
Financial Accounting Standards Board (FASB)
What key strokes can be used to double underline a cell?
Alt H B U
What software do we use to document PBC support in our workpapers, especially in detail testing?
DataSnipper
Who is RAD for the Southeast Region?
John Klisch
What did Enron call it's accounting practices that led to it's ultimate collapse?
"Mark-to-Market accounting"
Which TV show features an accountant named Oscar?
The Office
What is the shortcut to automatically foot a column?
Alt + =
What excel add-in do we use to format, sort, and manipulate data?
ActiveData
What term refers to the risk that an auditor expresses an inappropriate opinion when the financial statements are materially misstated?
Audit Risk
Who was the CEO behind the WorldCom scandal?
Bernard Ebbers
The first known use of the word "audit in English was in this century.
15th century
What is the shortcut to freeze panes?
Alt W F F
What tool can we use to make qualitatively high risk ISI selections for revenue testing?
MindBridge
What term refers to the likelihood that a material misstatement could occur in a particular area before considering any related controls?
Inherent Risk
What was the name of the Company that Bernie Madoff ran his ponzi scheme out of?
Bernard L. Madoff Investment Securities LLC
What year was the first CPA exam administered?
What action does the following do? Shift + spacebar, Ctrl + Enter
Insert a row
What is the name of the audit software that the AICPA is actively developing?
Dynamic Audit Solutions (DAS)
What is the Audit Risk Model?
Audit Risk = Inherent Risk x Control Risk x Detection Risk