Disclosures You Are a Staff Auditor on the Audit of Cosmo

question 153

Essay

Disclosures You are a staff auditor on the audit of Cosmo Technologies,Inc.The audit partner asks you to carefully read the new mortgage contract with the Hometown Bank and abstract all pertinent information that might be needed for a financial disclosure. Required: (1)List the information in a mortgage that is likely to be relevant to the auditor.(2)What are the pros and cons of using a disclosure checklist for this task?

---

Definitions:

Occupational Achievement

The level of success or accomplishment an individual attains in their chosen career or professional field.

Individual Achievement

The accomplishment of personal goals or the attainment of success in specific tasks by an individual, often recognized or measured by external standards.

Blau

Refers to Peter Blau, a notable sociologist known for his contributions to the study of social structure and interpersonal dynamics.

High-Class Standing

Refers to individuals or groups holding a position of superior social status, often associated with wealth, education, and power.