particular question‚ no credit will be given for that question. 1. Which of the following is not a Sarbanes-Oxley requirement for audit committees? A. The audit committee should view itself as the “client” of the external auditor. B. The audit committee must be chaired by the chair of the board of directors. C. Audit committee members must be financially literate. D. Audit committee members must be outside directors. 2. There are several reasons why users of information desire assurance services
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report is to develop an audit plan using the 2007/2008 annual reports of the WesFarmers. This report will provide an understanding of the underlying concepts of an overall audit strategy. This strategy will bring forward the direction and scope of the WesfFarmers audit plan. This report will address five major points these are as follows: • Understanding the entity and its environment • Making preliminary judgements about materiality levels • Considering the audit risk • Understanding internal
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Case Study Memo Format Date: 3/4/2013 Subject: Employee Gambling and Productivity Case Summary The ethical decision-maker in this case‚ Dr. Quaid Jefferson‚ Division Director of Vital Statistics‚ is faced with the dilemma of allowing his employees to place bets on horses and hold office pools in the face of decreased productivity. On top of that‚ he participates in an annual football pool‚ which is illegal in his jurisdiction‚ while horse betting is not. The stakeholders in this decision
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communications in regards to the issues pertaining to your company’s questionable reaffirmation practices. This memo contains various strategies directed at a diverse array of stakeholders. | Memorandum To: Mr. Arthur Martinez (Chairman and Chief Executive Officer) From: Douglas Puckett (External management consultant) Date: [ 6/19/2013 ] Re: Communication Strategy Memo Confidential The bulk of the issues as I understand them are finding a manner to properly address the practice your
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Training Material on Internal Auditing Internal Auditing Handbook 1 Session 1 – External Audit........................................................................5 1.1 Definition and Objective.....................................................................5 1.2 Responsibilities of External Audit ......................................................5 1.3 Scope of the Audit .............................................................................6 1.4 Auditor’s Report Basic
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question needs the explanation of inter-relation between business risk and audit risk‚ which is automatically‚ must include the risk analysis as an approach to auditing to overcome with the concern of handling these risks. Before entering deeper to the business risk and how an auditor can manage and be aware of these risks‚ lets define and describe some of the terms which is related to this question as follows:- Business risk is generally defined as the threat posed by an event or action to
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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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evidence 4. Evaluate the evidence and decide whether management assertions correspond to reality and GAAP - Objectivity – an objective state of mind – intellectual honesty and impartiality. Having a lack of bias in designing and performing the audit work. - Due professional care – observance of the rules of professional ethics and CAS. Doing the work to the best of your ability Examination standards - Planning and supervising - Understanding the system on internal control of the
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Managerial Auditing Journal Emerald Article: Audit evidence: the US standards and landmark cases Rocco R. Vanasco‚ Clifford R. Skousen‚ Richard L. Jenson Article information: To cite this document: Rocco R. Vanasco‚ Clifford R. Skousen‚ Richard L. Jenson‚ (2001)‚"Audit evidence: the US standards and landmark cases"‚ Managerial Auditing Journal‚ Vol. 16 Iss: 4 pp. 207 - 214 Permanent link to this document: http://dx.doi.org/10.1108/02686900110389151 Downloaded on: 30-04-2012 References: This
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(2005). Pros and cons of accounting rules weighed Sarbanes Oxley - more audits‚ accountability. San Francisco Chronicle on the Web. Retrieved August 17‚ 2001‚ from gin/article.cgi?f=/c/a/2005/05/05/BUGJBE3DQ71.html. Leporte‚ G. (2007). Chief of the office of small business policy at the U.S. sSecurities and Exchange Commission. Retrieved on August 17th‚ 2005‚ from http://accounting.smartpros.com . Linsley‚ C. (2003). Auditing‚ risk management and a post Sarbanes-Oxley world. Review of Business. Solomon
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