REVIEW SCHOOL OF THE PHILIPPINES Manila AUDITING THEORY Professional Accounting Practice Related PSA : Preface to PSA and Related Services 1. The following statements relate to the accounting profession: I. To merit public trust and confidence‚ the professional person must convince the public that he will place public service ahead of personal reward. II. A CPA certificate is evidence of basic competence in the discipline of accounting at the time the certificate is granted. III
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governmental auditing requirements (required under the FERC Order 693)‚ tools for project management‚ team and auditee management‚ workpaper documentation‚ interview techniques and other tools needed to conduct an effective and efficient audit and one that will stand up to the rigor of potential regulatory requirements and challenges. Regional Entity Management Group 2 Please Remember… • This is not technical training. There are “hard” and “soft” skills to auditing • This course
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NATURE of AUDITING‚ ATTESTATION AND ASSURANCE SERVICES Let us understand a few terminologies before going further in the discussion of the details of auditing and assurance since these terms will be used often throughout the text. Auditing‚ attestation and assurance services are often used interchangeably because they encompass the same decision-process: defining the decision problem‚ defining the alternative choices‚ identifying and obtaining information relevant to the decision problem‚ evaluating
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A professional judgment is a key factor in auditing. As a result of development of auditing and accounting industry‚ especially after a series of accounting fraud and auditing failure cases‚ such as Enron and Arthur Andersen‚ in the last decade‚ professional judgments is becoming a more and more important aspect for the independent auditing industry. Recently‚ many countries and professional bad issued more strict auditing standards to emphasize to this point. It means the auditor should be required
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Unit 11639 Assessment Apply Consumer legislation to a given fact situation Navi Student ID: Due Date: 5th Aug 2013 Assessment Part 1: Apply selected provisions of the Fair Trading Act 1986 to a given fact situation. 1a) The fair trading act in 1986 defend consumers by prohibiting dishonest or deceptive conduct in trade. It requires that all trading activities are based on right and true information. In this case‚ under the defences available in the act‚ he was not
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explain how an auditor goes about the process of auditing financial statements and presents the five basic stages that the auditor performed during the financial statement audit at Maryward Primary School in Kwekwe for the year ending 31 December 2012. In order to be in a position to fulfil auditing responsibility to report on the client’s annual financial statements‚ the auditor followed a series of procedures and activities as required by the auditing profession. The auditor applied the following
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Financial Control Auditing in an Electronic Environment (e-Auditing) Presented to Dr. Marwa Tarek Presented By: Pierre Guirguis 9104428 Rimon Abd El-Meseih 9104386 Mahmoud Mohamed Refaat Auditing in an Electronic Environment (e-Auditing) * What is e-Auditing? Electronic auditing‚ or e-Auditing‚ is computer-assisted auditing that uses electronic records to complete all or part of the audit. If you use a computer to record your business activity and maintain this data electronically
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3401 Audit and Professional Ethics │LECTURE 1│ Concepts of Auditing Learning Objectives After the lecture‚ students should be able to: describe the nature‚ purpose and scope of an audit; describe various basic principles and concepts of auditing and explain their importance in the actual audit procedures; and describe the professional framework within which auditors must operate. 1. Accounting vs. Auditing Accounting - the process of recording‚ classifying‚ summarizing and communicating
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The California Dream There are multiple interpretations and visions of the California Dream‚ each with their own variations and ideals that suit the individual. The dust bowl era brought numerous Southwestern migrants to California in search of their dream of prosperity as well as opportunity‚ while white middle class families saw their California Dream as living in harmony and peace in suburbia‚ in their modest homes‚ with manicured yards. The books American Exodus by James Gregory and Holy Land
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technology to improve internal audit communications in the Banking Sector Background Internal auditing has come a long way over the last two or three decades. In the past‚ internal auditing was seen as a mechanism to double-check the thousands of financial transactions that were posted to the accounts each week. Today an internal auditor facilitates the development of suitable controls as part of a wider risk strategy‚ and provides assurances on the reliability of these controls with the use of effective
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