end up in a heavy lawsuit. Under common law‚ audit professionals have the responsibility to their client to fulfill their agreed on contracts. However‚ if one audit fails to fulfill their contract‚ not only they have to take responsibility to their clients but in some circumstances‚ to parties other than their clients. These parties of those who rely on audit reports‚ therefore auditors also have the responsibility to them as professionals. In addition to common law‚ auditors may be held to third
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Beginning the Audit Report Peter Serunjoji ACC546 January 15‚ 2012 Arlette Peoples Beginning the Audit Report MEMORANDUM TO: Larry Lancaster‚ Chairman‚ President‚ and CEO of Apollo Shoes‚ Inc. FROM: Matrix Certified Public Accountants (MCPA) Inc.‚ DATE: January 15 2012 SUBJECT: Beginning the Audit Report (Engagement letter‚ Engagement checklist‚ Outline of timeframes and milestones of the audit) Dear Mr. Lancaster‚ This letter is to confirm the
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INTERNAL AUDIT TRAINING MODULE BASED ON THE INTERNAL AUDIT PROCEDURE MANUAL Ministry of Finance & Economic Development November 2005 TABLE OF CONTENT MODULE I I. INTRODUCTION AND GENERAL BACKGROUND SESSION I INTRODUCTION BREAKING THE ICE LEARNING CONTRACT BASES AND AUTHORITY THE GENERAL CONCEPT OF AUDITING 1 1 1 2 3 SESSION II HISTORICAL DEVELOPMENT OF INTERNAL AUDITING INTERNAL AUDITING IN ETHIOPIA THE SCOPE AND PRACTICE OF INTERNAL AUDITING IN ETHIOPIA NEED TO ADOPT THE PROFESSIONAL
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School based initiatives to implement Common Core Implementing the Common Core curriculum will be quite a conversion from the previous curriculum‚ however‚ I have some ideas for school based initiatives that can ease students‚ parents‚ staff‚ and the community into the changeover. The vision for the school would of course be the successful implantation and teaching of common core thorough the building. Here are some school based initiatives that an administrator could begin; first‚ an administrator
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Bagranoff and Henry article‚ cited in footnote 3‚ and the list of GAS in the Sayana article‚ cited in footnote 1. Experts say that generalized audit software (GAS) is the most common computer-assisted audit tool (CAAT) used in recent years. There are many reasons today for IT auditors to use a GAS‚ but to quote an article from this Journal‚ "Performing audits without using information technology is hardly an option."1 This article will inform IT auditors of the profitable return on learning and using
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Cervical Spondylosis: Causes‚ incidence and risk factors and Physiotherapy approach Table of Contents: Serial No. | Contents | Page No. | 1. | Introduction | 02 | | Background | 04 | | Justification | 05 | | | | 2. | Objective | 05 | 2.1 | General objective | 05 | 2.2 | Specific objective | 05 | | | | 3. | Methodology | 06 | 3.1 | Study design | 06 | 3.2 | Sample size | 06 | 3.3 | Sampling technique | 06 | 3.4 | Research instrument | 06 | 3.5 | Study population
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Inherent risk Computerizing risk Non-routine transactions (Beasley 2010‚ p268) ‘Transactions that are unusual for the client are more likely than routine transactions to be incorrectly recorded‚ because of the client often lacks experience in recording them.’ Why it is risk: Santos use a series of computerizing or IT technology to support their business for increase market competition. IT technology has been used for trade ordering systems between customs and Santos. Customers can order
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Print Form 00-1 2009 General Audit Engagement Checklist 20‚401 Section 20‚400 General Audit Engagement Checklist Checklist for Review of Audit Engagements Contents Section I. The Auditor’s Report With Regard to the Auditor’s Report............................................................................................... II. General Audit Procedures With Regard to Client Acceptance .................................................................................................. With Regard
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AUDIT EXPECTATIONS GAP Definition i) Liggio (1974a) defines it as the difference between the levels of expected performance as envisioned by the independent accountant and by the user of financial statements. The Cohen Commission (1978) on auditors’ responsibility extended this definition by considering whether a gap may exist between what the public expects or needs and what auditors can and should reasonably expect to accomplish. ii) According to Guy and Sullivan (1988)‚ there is a
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decisions involving the firm. The importance of the auditing process today‚ as defined above‚ cannot be argued against. It does not only ensure that firms keep track and control their financial activities‚ but it forms the rudimentary foundation of businesses and on a larger scale‚ the economy. Without the auditing process to ensure that the public put their trust on business entities and their activities‚ the economy will stagnate and perhaps eventually collapse. THE HISTORY OF AUDITING PROCESS IN
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