be straightforward and honest in all the professional and business relationships. In this case‚ an auditor has to be integrity to present their honest and fair to the client. Even Game’s Limited’s managing director is unhappy with the existing auditing firm has been changed. Objective An auditor has to be objective and fair. Auditor has to be fairness and objective to provide financial report. The client’s point of view must not affect auditor’s objective. In this case‚ Games Ltd has been
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Chapter 1- Demand for Audit and Assurance Services Assurance Services- Are the independent professional services that improve the quality of information for decision makers. Individuals who are responsible for making business decisions seek assurance services to help improve the reliability and relevance of the information used as the basis for their decisions. Assurance services are valued because the assurance provider is independent and perceived as being unbiased with respect to the information
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Qiong Wu Instructor James Dutra ACC 412 March 26‚ 2014 Case 3.1 Dodgers Trolley Summary The Dodgers Trolley case is a simple problem related the internal control in auditing. Dodgers Trolley was original funded in New York‚ but Yankees performed much better. After nearly seven decades of mostly frustration on and off the baseball field‚ the Dodgers shocked the sports world by moving to Los Angeles in 1958‚ because Walter O’Malley saw the opportunity to introduce baseball to the increasing
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Audit Documentation Purpose: 1. Main evidence of procedures‚ work performed on audit 2. Prepare sufficient & appropriate audit documentation on timely basis 3. enhance audit quality 4. facilitate effective review 5. evaluate audit evidence obtained & conclusions reached before finalizing auditor’s report 6. assisting audit team plan & perform for audit 7. assist audit team members’ supervise & direct audit work‚ discharge responsibilities (Quality Control
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Problem 17-4A 1. Current ratio = 3.9 to 1 2. Acid-test ratio = 2.3 to 1 3. Days’ sales uncollected x 365 = 33.2 days 4. Inventory turnover = 7.2 times 5. Days’ sales in inventory x 365 = 49.6 days 6. Debt-to-equity ratio ($16‚500 + $2‚200 + $2‚300 + $62‚400) / ($90‚000 + $59‚800) = 0.56 to 1 7. Times interest earned $66‚950 / $3‚100 = 21.6 times 8. Profit margin ratio
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National Infrastructure Protection Plan The national Infrastructure Protection Plan (NIPP) brings a new focus to international security cooperation and provides a risk- based framework for collaborative engagement with international partners and for measuring the effectiveness of international critical infrastructure and key resources protection activities. The NIPP provides the mechanisms‚ processes‚ key initiatives‚ and milestones necessary to enable the Department of Homeland Security (DHS)
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(intel and amd images)Intel vs. Amd The Central Processing Unit or Processor is the most important component of a computer. The two most common types of CPUs on the market today are manufacture by Intel and AMD. Intel is the largest global supplier of microprocessors for the x86 architecture and AMD is the second largest. AMD concentrates primarily on CPUs‚ chipsets‚ and other microprocessors‚ but Intel explores into many other markets including networking technologies‚ motherboards
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What are some of the characteristics that differentiate projects from other functions carried out in the daily operations of an organization? List some examples of work considered to be a project and work not considered to be a project. A project can be defined as something which is very complex; it has a specific and limited time line which means that it has a start as well an end. Different from day to day business routines which take place on frequent basis while at the same time a project is
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Process Of Auditing‚Auditing Vs Investigation INTRODUCTION: Introduction to auditing: Economic decisions in every society must be based upon the information available at the time the decision is made. For example‚ the decision of a bank to make a loan to a business is based upon previous financial relationships with that business‚ the financial condition of the company as reflected by its financial statements and other factors.As a result the bank has lost both the principal and the interest
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Fundamentals of Internal Auditing September 5-7‚ 2007 A Three-Day Tutorial Philadelphia‚ PA on Internal Auditing September 19-21‚ 2007 Las Vegas‚ NV Basics October 15-17‚ 2007 Houston‚ TX • Get a well-grounded foundation in the concepts of traditional and operational auditing November 5-7‚ 2007 San Francisco‚ CA November 12-14‚ 2007 • Gain proven tools and techniques for performing value-added audits in the era of Sarbanes-Oxley and PCAOB Boston‚ MA December
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