Administration - MBA Semester 3 Subject Code – MF0013 Subject Name – Internal Audit and Control -4 Credits (Book ID: B1211) Assignment Set- 1 (60 Marks) Q.1 Critically evaluate the qualities of an Auditor in the wake of recent scams Ans:- What should be the qualities of Internal Audit Personnel? There is no universal answer to this question. We can only generalize about the qualities of internal Audit Personnel. It has been observed that internal auditors and independent auditors often
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eventually drawn into Livent’s fraudulent schemes by its principal architects‚ including Maria Messina‚ the company’s chief financial officer (CFO). Messina‚ a former partner with Deloitte & Touche’s Canadian affiliate‚ had previously served as Livent’s audit engagement partner. The fraud unraveled following Livent’s takeover by an investment group led by Hollywood mogul Michael Ovitz. The new management team installed by Ovitz soon found that “massive‚ systematic irregularities” permeated the company’s
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Tammy Adams March 28‚ 2011 MAR Professor C. Dix Strategic Audit of Crowley Maritime Corporation Crowley Maritime Corporation is a U.S. owned and operated marine solutions‚ transportation and logistics company providing services in domestic and global markets through six operating lines of business: Latin America liner services; logistics; marine contract solutions; deep sea petroleum transportation; Puerto Rico/Caribbean liner services and petroleum transportation‚ distribution
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Team Leadership Memo MGT/521 July 23‚ 2014 In accordance with the company’s initiative toward entering a new department‚ I have been asked to create this memo. Recently‚ I have been paired into a team with the assignment to meet the goals and expectations of the company. I‚ xxxxxxx‚ will team with xxxxxxx‚ xxxxxx and xxxxxxx in order to attain the goals assigned to our group. We share a lot of similarities in our personalities. By looking at the type of personalities’ we have‚ I think the best
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Solutions for Chapter 8 Tools to Gather Audit Evidence Review Questions: 8-1. The three main tools the auditor might use in gathering and evaluating audit evidence are: Audit sampling Generalized Audit Software Analytical procedures 8-2. Non-sampling risk is the risk that the auditor makes an improper assessment of inherent and/or control risk or did not apply audit procedures carefully. It can be minimized through: (1) Good hiring‚ training and supervision practices; and (2)
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Merger Memo Learning Team B: Kathryn Alvino‚ Nadia Ge‚ Delores Jones‚ Wanda Soderberg-Beck University of Phoenix Author Note: This paper is being submitted on January 30‚ 2015‚ for Dr. Kale Kruger’s HCS/514 Managing in Today’s Health Care Organizations course. Merger Memo MEMORANDUM TO: All Employees FROM: Management Team DATE: January 30‚ 2015 SUBJECT: Healthcare International Organization Merger CC: Leadership Team In response to the recent merging
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Nordstrom Executive Summary This memo will provide a brief history and financial overview of Nordstrom‚ a high-end‚ quality clothing store operating in 28 states with more than 200 stores according to Nordstrom’s Business Wire press release on December 2‚ 2010 (Nordstrom‚ 2010). Additionally‚ an overview of the financial information includes specific details from the balance sheet‚ income statements‚ and statement of cash flow for 2007 through 2009 and any latest reporting for 2010. The statements
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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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Memo Writing Memos have one purpose in life: as the authors of Business Writing Strategies and Samples put it‚ "Memos solve problems." Memos solve problems either by informing the reader about new information‚ like policy changes‚ price increases‚ etc.‚ or by persuading the reader to take an action‚ such as attend a meeting‚ use less paper‚ or change a current production procedure. Regardless of the specific goal‚ memos are most effective when they connect the purpose of the writer with the interests
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Bibliography Textbooks and literature 1) Corporate Entrepreneurship and Innovation‚ Entrepreneurial Development within Organisations‚ Second Edition‚ Thompson Southwestern‚ M. Morris‚ D. Kuratko‚ and J. Govin. 2) Crafting and Executing Strategy‚ South African Edition. Text‚ Reading‚ and Cases. J. Hough‚ A. Thompson‚ A. Strickland‚ and J. Gamble McGraw Hill 3) Strategic Management of Technological Innovation Second Edition‚ 2008
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