Ethical Dilemmas for Auditors Discussion Paper May 2006 1 The Institute of Certified Public Accountants in Ireland Ethical Dilemmas for Auditors Dilemma One – Non-Audit Services 3 Dilemma Two – Fee Levels 6 Dilemma Three – Ethics Partner 7 Dilemma Four – Long Association with the Audit Client 8 Dilemma Five – Commencement in Practice 9 Dilemma Six – Financial Interest in a Client 10 Dilemma Seven – Business relations with audit clients 11 Dilemma
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ibility-survey-2008.pdf Metcash Limited Moir‚ L. (2001). What do we mean by Corporate Social Responsibility? Corporate Governance: The International Journal of Effective Board Performance‚ 16-22. Moroney‚ R.‚ Campbell‚ F.‚ & Hamilton‚ J. (2011). Auditing A Practical Approach. Milton: John Wiley & Sons Australia‚ Ltd. Myer Holdings Limited. (2011). 2011 Annual Report. Retrieved from http://media.corporate-ir.net/media_files/IROL/23/231681/Myer_Holdings_Limited_2011_Annual_Report_to_Shareholders.pdf
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Chapter 8 Audit Planning and Analytical Procedures PLANNING Why auditor should properly plan engagements: a. To enable the auditor to obtain sufficient appropriate evidence for the circumstances b. To help keep audit costs reasonable c. To avoid misunderstanding with the clients Acceptable Audit Risk is a measure of how willing the auditor is to accept that the F/S may be materially misstated after the audit is completed and an unqualified opinion has been issued. When auditor decides on a lower
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Professional Conduct: An Empirical Investigation of Auditor and Public Perceptions. Journal of Business Ethics‚ (71)‚ 39-71. Retrieved from http://www.springer.com/ Louwers‚ T.‚ Ramsay‚ R.‚ Sinason‚ D.‚ Strawser‚ J.‚ & Thibodeau‚ J. (2011). Auditing & Assurance Services. New York‚ New York: McGraw-Hill/Irwin. Su‚ S. (2006). Cultural Differences and Accounting Ethics: An Empirical Study for Accounting Students. International Journal of Organizational Innovation‚ 165-181. Retrieved from
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Part A 1) a)Although a client/company is engaged to perform audits for the 2nd year‚ it does not allow sufficient time for auditor to detect material misstatement. This is due to lack of experience in understanding of the company? Repeat engagement over the years to come would reduce inherent risk Thus‚ the 2nd year of audit would increase inherent risk. b)The bank requires that a/ the company’s interest coverage ratio should be above 9‚ in order to provide loans to the client. From the extract
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from inappropriate content. You may provide the DVD in another form as arranged with your lecturer. We prefer that you use Google docs or Youtube link for the video. AUDIT FAILURES: 1=Enron Corp. 2= China Sky One Medical 3= China Education Alliance Inc. 4=One Tel 5= Wow Joint Holdings Ltd 6=Satyam Computers 7=China Forestry Holdings Co. 8=Clive Peters Retail. 9=World Com 10=Sunbeam 11= Barings Bank 12=Waste Management Any references should be included in the one reference list for the assignment.
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Alchemy is Pretty Freaking Neat; Here is Why: When most people hear the word “alchemy‚” they envision wizards in dark robes chanting incantations over beakers of colored‚ smoking liquids. However‚ alchemy was much more than superstition. Not only does alchemy refer to the creation of gold from non valuable metals‚ but alchemy also refers to the quest to understand the relationship between humans and the cosmos‚ and the quest to use such knowledge to purify the human soul and achieve immortality (Khan
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25. Fraud is an intentional act involving the use of deception that results in a material misstatement of the financial statements. The two types of misstatements that are relevant to auditors are: The misstatement arising from misappropriation- this occurs when someone steals or misuses an organizations assets. Perpetrators are usually employees and occur when they gain access to cash or cash disbursement accounts and can manipulate them. Misstatement arising from fraudulent financial reporting-
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Auditing Introduction Letter Kelly Garner ACC/546 December 15‚ 2014 Mr. Michael De Marco Anderson‚ Olds‚ and Watershed Certified Public Accountants Shoetown‚ ME 00001 December 15‚ 2014 Mr. Eric Unum Vice President of Finance Apollo Shoes‚ Inc. 100 Shoe Plaza Shoetown‚ ME 00001 Dear Mr. Unum‚ Thank you for taking the time to meet with Arnold Anderson‚ CPA (lead auditor); Darlene Wardlaw‚ CPA (engagement manager) and me last week. During our meeting‚ you and your team informed us that your “old
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Mr. Larry Lancaster Chairman of the Board of Directors‚ President and CEO Apollo Shoes Inc. 100 Shoe Plaza Shoetown‚ ME 00001 Dear Mr. Lancaster‚ Please let me introduce ourselves as a reliable auditing and assurance firm – Anderson‚ Old‚ and Watershed (AOW). With our reliable partners and associates‚ we offer dependable auditing services. We have the latest auditing tools‚ resources‚ and personnel to give your company a high-quality and reliable audit. Our services are reputably known for
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