INTRODUCTION Audit Planning and reporting Auditing planning and reporting are two critical stages in whole audit Cycle. Audit planning is before beginning of field work and reporting is last Stage in bank audit Good planning leads to effective Reporting Planning (also called forethought) is the process of thinking about and organizing the desired activities required to achieve a desired goal. Planning involves the creation and maintenance of a PLAN. As such< planning is
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------------------------------------------------- Internal Control Questionnaire—Sales Transaction Processing Assertions and Questions | Yes‚ No‚ N/A | Comments | Occurrence assertion: | 1. Is the credit department independent of the sales department? | Yes | Credit manager in Treasurer’s office | 2. Are sales of the following types controlled by the same procedures described below? Sales to employees‚ COD sales‚ disposals of property‚ cash sales‚ and scrap sales. | N/A | | 3
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Audit Office Size‚ Audit Quality and Audit Pricing By Jong-Hag Choi‚ Chansog (Francis) Kim‚ Jeong-Bon Kim‚ and Yoonseok Zang Forthcoming at Auditing: A Journal of Practice and Theory ________________ *Jong-Hag Choi is an Associate Professor at Seoul National University (acchoi@snu.ac.kr). Chansog Kim is an Associate Professor at City University of Hong Kong (acckim@cityu.edu.hk). Jeong-Bon Kim is a Chair Professor at City University of Hong Kong (achead@cityu.edu.hk). Yoonseok Zang is an
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COMPANY PROFILE Apollo Tyres Ltd REFERENCE CODE: E16AA60E-380B-49C8-9C23-BFC7C2AB3058 PUBLICATION DATE: 28 Jun 2013 www.marketline.com COPYRIGHT MARKETLINE. THIS CONTENT IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED OR DISTRIBUTED. Apollo Tyres Ltd TABLE OF CONTENTS TABLE OF CONTENTS Company Overview..............................................................................................3 Key Facts......................................................................
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A Computerized Audit Practice Case Description of the Practice Case This case has two learning objectives. First‚ it provides the student an opportunity to apply auditing concepts to a “real-life” audit client. The client‚ Biltrite Bicycles‚ Inc.‚ operates within a unique business climate and internal control environment‚ and the student must assess inherent risk and control risk accordingly. The case contains modules involving sampling applications‚ risk assessment‚ audit documentation‚ analysis
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Overview of Audit Closure & Reporting The audit report should serve the fundamental purpose of informing‚ persuading‚ & getting the desired improvements implemented. ◆ Inform the audience with required background‚ evidence‚ and conclusions of the issues. ◆ Persuade the audience on the impact of risks & concerns on the business in case adequate mitigation / control measures are not implemented. ◆ Obtain feedback from the management in the form of agreed corrective action plan with target
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Audit Objectives: a. Determining that cash on hand as shown in the general ledger is represented by currency and coins on hand. b. Determining ownership and proper accountabilities c. Ascertaining that cash balances are available without restrictions. Audit Procedures: a. Examination of cash proof sheets and tracing of their totals to the general ledger b. Test tracing of deposit or withdrawal slips to individual subsidiary ledgers and vice
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Operational Audit Best Practices A methodology to Conduct Operational Audit in Public Sector Organizations What is Operational Audit? Operational Audit is a methodology for assessing the conformity of implementing the procedures and methodologies set forth in the department’s instructions‚ regulations or documents. Operational audit is performed by specialized auditors. Upon completion of the auditing process‚ a report of findings with recommendations is submitted. Operational audit contributes to
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PROFESSIONAL ACCOUNTANCY COURSE YEAR 3 AUDIT & ASSURANCE 1 INDIVIDUAL ASSIGNMENT BRIEF HAND OUT DATE: 5th October 2011 HAND IN DATE: INSTRUCTIONS FOR COURSEWORK You are required to research and prepare a report based on one of the following topics. Please seek the assistance of the module leader Ivor Pingue and your seminar tutors for help and guidance with your coursework. Do not leave the research too late!! The word limit for the report is a minimum of 3‚500 (+10%) words. maximum
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Audit Test 1 notes Board of Directors hires auditors Controller pays the auditors Audit Report is the auditor product If you find illegal can’t tell public but must notify the management and if they don’t do anything then maybe report -can then resign and report ALL auditors are reviewed every 3 years AICPA -makes standards for private companies ? PCAOB -sets standards (the SEC sets standard) -Quasi private public company -legal authority to set standards Assurance
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