Hollate Manufacturing Case Study About this case study: This case study was developed as a joint effort by the Center for Audit Quality‚ Financial Executives International‚ The Institute of Internal Auditors‚ and the National Association of Corporate Directors. These four organizations have formed the Anti-Fraud Collaboration to actively engage in efforts to mitigate the risks of financial reporting fraud. The Collaboration’s goal is to promote the deterrence and detection of financial reporting
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L Inc.’s internal control over financial reporting as of December 31‚ 2012‚ based on control criteria established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of Treadway Commission (COSO). L Inc.’s management is responsible for maintaining effective internal control over financial reporting‚ and for its assessment of the effectiveness of internal control over financial reporting‚ included in the accompanying Management’s Report on Internal Control
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risk……………………………………………………………………. Internal risk………………………………………………………………………. External risk……………………………………………………………………… Cadbury code…………………………………………………………………………….. Control system and procedure ………………………………………………………….. Types of fraud……………………………………………………………………………. Detection and implication for the fraud………………………………………………… Introduction to audit…………………………………………………………………….. Right and duties of the auditor…………………………………………………………. Liability of the auditor…………………………………………………………………… Internal audit and external audit………………………………………………………
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criteria for a financial statement audit? For an internal audit? The assurance criteria are completeness‚ authorization‚ accuracy‚ timeliness‚ occurrence and efficiency. Financial statement auditors are concerned about completeness‚ authorization‚ accuracy and occurrence equally. They are less concerned about timeliness; if timeliness affects the year end‚ it becomes a completeness issue. Financial statement auditors are not concerned about efficiency. Internal auditors are concerned about all
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P1 Professional Accountant ACCA P1cover.indd 1 11/11/09 16:36:30 ProfessionAl ACCountAnt British library Cataloguing-in-Publication Data A catalogue record for this book is available from the British library Published by interActive World Wide limited Westgate House‚ 8-9 Holborn london eC1n 2ll www.iaww.com www.studyinteractive.org isBn-978 -1-907217-25-8 first edition 2009 Printed in romania © 2009 interActive World Wide limited. london school of Business & finance and the lsBf logo
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wise for Ramos to investigate further into the matter. She should perform necessary audit procedures and collect all possible evidence to resolve problem. First of all‚ Ramos should start with Koster as she is the one who brought up the issue she had with the management. She also implied what seems to be a fraudulent act was exercised by some of top employees of the company. Koster
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9-104-071 REV: SEPTEMBER 14‚ 2007 ROBERT S. KAPLAN DAVID KIRON Accounting Fraud at WorldCom WorldCom could not have failed as a result of the actions of a limited number of individuals. Rather‚ there was a broad breakdown of the system of internal controls‚ corporate governance and individual responsibility‚ all of which worked together to create a culture in which few persons took responsibility until it was too late. — Richard Thornburgh‚ former U.S. attorney general1 On July 21‚ 2002
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preserve anonymity) in which an internal auditor in a hospital setting‚ due to personal biases and a lack of objectivity‚ performed a substandard audit of a capital asset acquisition and violated several standards of the International Standards for the Professional Practice of Internal Auditing as well as the Institute of Internal Auditors (IIA) Code of Ethics. Students use the Standards and Code of Ethics to form conclusions regarding shortcomings of this audit. The International IIA Standards
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TABLE OF CONTENT Items | P.No | 1. Introduction: corporate governance | 2 | 2. Introduction: selected companies | 3 | 3. Analysis of the two companies on the practice of corporate governance | 4 | 4. Application of corporate governance (detail review) - Malayan Banking berhad | 7 | 5. Application of corporate governance (detail review) - Public Bank Berhad | 15 | 6. Conclusion | 22 | 7. References | 23 | 8. Appendix: a. The Malaysian Code on
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Introduction: Fontana Leisure Parks is a getaway and events place located in a 300-hectare property within the Clark Special Economic Zone at Clarkfield Pampanga‚ just 80 kilometers north of Manila. It was conceptualized to provide an accessible perfect getaway for city dwellers who seek relaxation‚ privacy and at the same time enjoy the company of their‚ family‚ friends‚ or colleagues. Fontana has the facilities to cater to all kinds of events. Fontana is well prepared to host corporate team
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