Determining the fair market value, unless it is clearly defined in the blue book for each condition. 1-20 a. The advantages and disadvantages of a career as an CAO auditor, tax authority agent, CPA, or internal auditor are: EMPLOYMENT ADVANTAGES DISADVANTAGES CAO AUDITOR Increasing opportunity for Possibility of limited experience in operational exposure to diversity of auditing. enterprises and industries. Exposure to highly Bureaucracy of federal sophisticated statistical government. sampling and computer auditing techniques. TAX Extensive training in Experience limited to AUTHORITY individual, corporate, gift, No experience with AGENT trust and other taxes is operational or financial available with concentration statement auditing. in area chosen. Training is not extensive Hands-on experience with with any business sophisticated selection enterprise. techniques. CPA Extensive training in of Exposure to taxes and to financial statements, the business enterprise compliance auditing and may not be as in-depth as operational auditing. the internal revenue agent Opportunity for experience in or the internal auditor. auditing, tax consulting, and Likely to be less exposed management consulting to operational auditing practices. than is likely for internal Experience in a diversity of auditors. enterprises and industries with the opportunity to specialize in a specific industry. Experience with risk assessment and sampling techniques INTERNAL Extensive exposure to all Little exposure to taxation AUDITOR segments of the enterprise and the audit thereof. with which employed. Experience is limited to Constant exposure to one one enterprise, usually industry presenting within one or a limited opportunity for expertise in number of industries. that industry. Likely to have exposure to compliance, financial and operational auditing.
Determining the fair market value, unless it is clearly defined in the blue book for each condition. 1-20 a. The advantages and disadvantages of a career as an CAO auditor, tax authority agent, CPA, or internal auditor are: EMPLOYMENT ADVANTAGES DISADVANTAGES CAO AUDITOR Increasing opportunity for experience in operational auditing. Exposure to highly sophisticated statistical sampling and computer auditing techniques. Possibility of limited exposure to diversity of enterprises and industries. Bureaucracy of federal government. TAX AUTHORITY AGENT Extensive training in individual, corporate, gift, trust and other taxes is available with concentration in area chosen. Hands-on experience with sophisticated selection techniques. Experience limited to No experience with operational or financial statement auditing. Training is not extensive with any business enterprise. CPA Extensive training in of financial statements, compliance auditing and operational auditing. Opportunity for experience in auditing, tax consulting, and management consulting practices. Experience in a diversity of enterprises and industries with the opportunity to specialize in a specific industry. Experience with risk assessment and sampling techniques Exposure to taxes and to the business enterprise may not be as in-depth as the internal revenue agent or the internal auditor. Likely to be less exposed to operational auditing than is likely for internal auditors. INTERNAL AUDITOR Extensive exposure to all segments of the enterprise with which employed. Constant exposure to one industry presenting opportunity for expertise in that industry. Likely to have exposure to compliance, financial and operational auditing. Little exposure to taxation and the audit thereof. Experience is limited to one enterprise, usually within one or a limited number of industries.
Solution%20Manual%20for%20Auditing%20and%20Assurance%20Services,%20Global%20Edition,%2015.docx