post-section 203 of sarbanes-oxley act. Internal Auditing‚ 27(1)‚ 25-30. Retrieved from http://bluehawk.monmouth.edu:2048/?url=/docview/1009737322?accountid=12532 Arens‚ Elder‚ Beasley‚ Auditing And Assurance Services: An Integrated Approach- 14th Edition. Chapter 4. Congress‚ United States. Sarbanes Oxley 2002. 2002. fl1.findlaw.com/news.findlaw.com/cnn/.../sarbanesoxley072302.pdf (accessed March 2‚ 2013). PCAOB US. 1989. "PCAOB AU Section 342 Auditing Accounting Estimates." PCAOB. Accessed March
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the method of auditing through the computer. Even with these improvements the approach to auditing has changed when applied to e-commerce. These changes can be seen in the audit trail‚ internal controls‚ audit risk‚ and
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Case 8.11 Societe Generale 1) This was the hardest question I delt with in this case‚ so I went to the basics: Accounting and Auditing in France. I came across the Supreme Council of the Institute of Chartered Accountants(7) and the National Society of Auditors (CNCC). (8) After researching this I simply did a search on the individual websites for “recent developments”‚ and nothing major came up in regards to the individual organizations. However‚ on expert-comptables.fr‚ I came across a press
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scheme of Australian Securities and Investments Commission (hereinafter ASIC). Due to the complexity of auditing processes‚ it is reasonable to expect a complicated infrastructure in assessing the quality of the auditing process. To cope with the words limit‚ two main factors affecting the audit quality most will be investigated in this paper. First factor is the regulation of current auditing practices involving legal frame work‚ ethical codes applicable to professional accounting bodies‚ and the
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Case 5.1 Cardillo Travel System‚ Inc. Description: Smith is the Chairman of Cardillo Travel Agency‚ he just involved into a case that whether to sign the affidavit with United Airlines. Because he inspected that there is something wrong with the affidavit concerning Cardillo’s stockholders’ equity‚ so that he refused to sign affidavit. Just for this reason‚ he was kicked out from his position. Moreover‚ the other two of his executives Rognlien and Lawrence‚ just approved the $203‚000 adjusting
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Do auditors need to have in-depth knowledge of information technology? Yes‚ auditors need to have in-depth knowledge of information technology. Networks and computers deliver the most information needed for auditing to work. For it to be effective‚ auditors have to use the computer as an auditing tool‚ audit automated systems and data‚ and understand the business purposes for the systems and the situation in which the systems operate. The other important uses for networks and computers by auditors
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Financial Statement Auditing True / False Questions 1. Independence standards are required for audits of public companies‚ but not for audits of private companies. True False 2. Decision makers demand reliable information that is provided by accountants. True False 3. Information asymmetry seldom occurs. True False 4. Conflicts of interest often occur between absentee owners and managers. True False 5. Auditing services and attestation
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threats‚ if any‚ that the provision of the given service can pose for an audit firm’s independence. In the recent years‚ auditing firms provides the following consulting services to their clients: a. Internal auditing b. Design of accounting systems c. Various types of Information Technology (IT) services 2. Briefly describe the key requirements included in the professional auditing standards regarding the preparation and retention of audit workpapers. Which party “owns” audit workpapers: the client
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Components of audit risks. ! How to assess audit risks. 1.1 INTRODUCTION Auditing has developed over many years‚ but it was not until the late nineteenth century (with the formation of joint stock companies‚ the predecessors to present day limited liability companies) that auditing became widely accepted in the United Kingdom and by extension‚ in other parts of the world. Individual firms of accountants have refined their approach to auditing from time to time and the professional accountancy bodies in various
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Recommendation for an Internal Accountant Recommendation for an Internal Accountant Internal Auditing is an independent‚ objective assurance and consulting activity designed to add value and improve an organization’s operations (What is internal auditing?‚ 2010). Internal accounting control is a series of procedures designed to promote and protect sound management practices‚ both general and financial that will increase the likelihood that: * Financial information is reliable‚ so that managers
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