which exceeds materiality of $50‚000. c. The auditor should either propose an audit adjustment so that the unadjusted statement amount is less than materiality‚ and/or perform more testing to obtain a better estimate of the population misstatements. The additional testing will likely focus on receivables and inventory because they have the largest estimated misstatements. 9-28 a. The following terms are audit planning decisions requiring professional judgment: Preliminary judgment about materiality
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Assessment task 1 – Project Plan “Houzit” Marketing management plan Marketing objectives The market for home-wares in Brisbane is estimated last year at $175 million per annum with an anticipated growth rate of the percent in the coming year. Here I outline the following marketing objectives: 12% market share (up from 11%) Increase in sales by 8.5% over last year’s result No expansion stores are planned during this phase of consolidation and on average the stores achieved $24‚680 per week for the
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Fundamental concepts of f/s audit Materiality misstatement of accounting information. is a matter of professional judgment Audit risk The auditor expresses an inappropriate audit opinion when the financial statements are materially misstated‚ Evidence (more than “per discussion with client) Major phrases of audit: Client acceptance/continuance; Preliminary engagement activities; Establish materiality and assess risks; Plan the audit ;Consider and audit internal control; Audit business processes and
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Demand for Audit and Other Assurance Services O ssu a S s Chapter 1 ©2012 Prentice Hall Business Publishing‚ Auditing 14/e‚ Arens/Elder/Beasley Arens/Elder/Beasley 1-1 SarbanesSarbanes-Oxley Act Enron WorldCom The Act established the Public Company Accounting Oversight Board. It also requires auditors to report on the effectiveness of internal control over financial reporting. ©2012 Prentice Hall Business Publishing‚ Auditing 14/e‚ Arens/Elder/Beasley Arens/Elder/Beasley 1-2 Learning
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C228 – Community Health Nursing – Task 1 Student’s Name Western Governors University Identification of Community Nestled in Southern Indiana just west of Louisville‚ Kentucky and south of Indianapolis‚ Indiana is Dubois County‚ Indiana. Dubois County is comprised of the towns of Birdseye‚ Ferdinand‚ Holland‚ Huntingburg and Jasper. Of those towns‚ Jasper is the largest and is the county seat (Kelly School of Business‚ 2014). Over fifty-two percent of the population consists of adults
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Professional Roles & Values- C304 Task # 1 Adrianna Wassom Western Governors University Nurses a with Bachelor of Science in Nursing Degree (BSN) are known for their skills in critical thinking‚ leadership‚ case management‚ health promotion‚ and for their ability to practice across a variety of inpatient and outpatient healthcare settings. These nurses are well-prepared to meet the demands placed on today’s nurse. The role of professional nursing organizations is to advocate for the
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A Look at the Modern Institutions of the World Western Governors University In this paper I will be discussing the characteristics of a modern nation-state‚ the European Union‚ and a couple of the foreign policies of the United States. By the end of this paper there should be an understanding of what makes a modern nation-state and also some examples of countries that are either a nation or state. To understand what a nation-state is‚ you must first understand what both a state and
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Q1 - What is the relationship between the risk assessment process and the collection of audit evidence? The risk assessment process happens at the very beginning of the engagement and is to determine the level of risk present in the company. The risk assessment phase is when the auditor assess the client’s situation‚ conducts an independence threat analysis and decides whether to accept the client or not. The risk assessment is influenced by various factors such as the degree to which external
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that the policies‚ procedures‚ laws‚ and safety regulations are being followed. If an employee has a concern in any of the aforementioned areas‚ Company X asks that you speak to someone in the Human Resources department or call the employee hotline at 1-800-555-5555 to report any concerns anonymously. Here at Company X we strive for success using a set of ethical standards that will ensure peak employee performance as well as employee satisfaction at the company. We strive for excellence via training
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The following answers are based on the SEC’s Litigation Release No. 20470 and related press releases associated with the fraud at Bally Total Fitness Holding Corporation: a. According to the SEC press releases and Litigation Release No. 20470‚ Bally fraudulently accounted for three types of revenue it received from members: initiation fees‚ prepaid dues‚ and reactivation fees. Initiation fees: Bally fraudulently and prematurely recognized revenue from initiation fees. Part of the price of a
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