Preview

Boss

Better Essays
Open Document
Open Document
3776 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Boss
Aronyms ACE ­ Client Acceptance, continuance, and extraordinary events that can lead to client rejection ORCA ­ Objectives, Risks, and Controls must always allign CRIME ­ Control Activities, Risk Assessment, Information and Communication Processes, Monitoring, Control Environment DAIF ­ Domestic Annually Inspected Firms (largest 8 accounting firms) ExCUSME ­ Existence, Communication, Understanding, Support, Monitoring, Enforcement (related to code of conduct/policies) CARDOFCPA ­ Confidentiality, Anonymity, Real Time Assistance, Data Management Procedures, Organization Wide Availability, Follow up on Non Retaliation, Classification of financial reporting concerns, prominent communication, audit committee notification. (Related to the features of a well designed hotline) SIMONE ­ Significant, Irremediable, Manual, Override, Non Recurring, Estimates (related to why we must evaluate PEFR) CAVIAR ­ Completeness, Accuracy, Validity, Interface (these 4 relate to integrity), Availability, Restricted Access (confidentiality) This is related to application controls OTCGRAD ­ Operating Risk, transaction risk, control risk, growth risk, regulation risk, accounting risk, distress risk, (types of risk to look for during RAP) ERM ­ Enterprise Risk Management FOC ­ Financial, operational, and compliance objectives. CRIME must take into account all three. SDLC ­ System Development Life Cycle TLC ­ Transaction Life Cycle

Overview of Integrated Audit An audit starts with the acceptance of a client or the continuance of a client or an extraodianary event that causes the auditor to drop the client. The next step is staffing the engagement properly. The auditor then understand’s the clients business and control architecture by making sure their objectives, risks, and controls are alligned and that their COSO framework is in place. The auditor will then evaluate control design and develop teting plans for these controls. After developing the plan the auditor will test operating

You May Also Find These Documents Helpful

  • Better Essays

    Ac555 Week 7 You Decide

    • 1715 Words
    • 7 Pages

    There are four things involved in the initial planning of an audit. According to Arens, Elder, and Beasley, 2010, they are: 1. “The auditor decided whether to accept a new client or continue serving an existing one, 2. The auditor identifies why the client wants or needs an audit, 3. To avoid misunderstandings, the auditor obtains an understanding with the client about the terms of the engagement, and 4. The auditor develops an overall strategy for the audit, including engagement staffing and any required audit specialists.”…

    • 1715 Words
    • 7 Pages
    Better Essays
  • Good Essays

    References: Gray, I and Mason, S (2008), The Audit Process: Principles, Practice and Cases, (4th ed.), London: Thomson Learning Ch 1…

    • 1171 Words
    • 5 Pages
    Good Essays
  • Better Essays

    Wk 1 Intro Letter

    • 963 Words
    • 4 Pages

    References: Arens, A. A., Elder, R. J., & Beasley, M. S. (2012). Auditing and assurance services: An integrated approach (14th ed.). New York, NY: Pearson/Prentice Hall.…

    • 963 Words
    • 4 Pages
    Better Essays
  • Good Essays

    6. risk management related to accounting standards and reporting for international, government or nonprofit entities…

    • 345 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    References: AU 9504. AICPA Statement on Auditing Standards. Retrieved on March 13, 2013 from: http://www.aicpa.org/research/standards/auditattest/pages/sas.aspx…

    • 326 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    a. For what purposes should an auditors’ understanding of the internal control components be used in planning an audit?…

    • 1065 Words
    • 5 Pages
    Good Essays
  • Better Essays

    Sarbanes Oxley Act

    • 1338 Words
    • 6 Pages

    Arens, A., Elder, R.J., & Beasley, M. (2010). ACCT 403: Auditing and assurance services: 2010 custom edition (14th ed.). Upper Saddle River, NJ: Pearson Education.…

    • 1338 Words
    • 6 Pages
    Better Essays
  • Powerful Essays

    Acc 403

    • 5361 Words
    • 22 Pages

    |Arens, A., Elder, R.J., & Beasley, M. (2010). ACCT 403: Auditing and assurance services: 2010 custom edition (13th ed.). Upper Saddle River,|…

    • 5361 Words
    • 22 Pages
    Powerful Essays
  • Good Essays

    Boss

    • 704 Words
    • 3 Pages

    6. What were the primary achievements and failures of the US under the Articles of Confederation? What essentially motivated the drive to create a new foundation for government, and how did the constitution reflect the Founder’s central intensions?…

    • 704 Words
    • 3 Pages
    Good Essays
  • Better Essays

    References: A Arens, R. Elder, M. Beasley (2010). Auditing & Assurance Services and Integrated Approach. NJ: Prentice Hall.…

    • 1820 Words
    • 8 Pages
    Better Essays
  • Good Essays

    Apollo Shoes Audit Report

    • 1052 Words
    • 4 Pages

    References: Elder, A. A., Beasley, M., & Elder, R. J. (2014). Auditing and assurance services (15th ed.). Upper Saddle River, NJ: Pearson.…

    • 1052 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Project Plan

    • 9315 Words
    • 38 Pages

    Finne, T. (2005). Casting a Wide Net. Internal Auditor; Vol. 62 Issue 4, p29-33. Retrieved June 4, 2006 EBSCOhost database, University of Phoenix Online Library Collection.…

    • 9315 Words
    • 38 Pages
    Good Essays
  • Good Essays

    Boss

    • 1481 Words
    • 6 Pages

    Socialization enables a society to “reproduce” itself by passing on cultural content from one generation to the next.…

    • 1481 Words
    • 6 Pages
    Good Essays
  • Good Essays

    bad boss

    • 553 Words
    • 3 Pages

    According to the video, the best strategy to make the situations better at work is to try to communicate with the boss as much as possible. However, they give no more indication as to how this communication should be carried out, or why it would be important for employees to have an open and honest communication with the boss. Write three paragraphs explaining the importance of fostering an open communication with your boss if you are having conflict in the workplace. How would you go about fixing in-office conflicts using the communication skills you have learned in this class?…

    • 553 Words
    • 3 Pages
    Good Essays
  • Better Essays

    and search within the software to find whether the system the company uses to document all…

    • 2327 Words
    • 10 Pages
    Better Essays