convincing. There are different levels of reliability of audit evidence‚ some providing more evidence than others. There are nine types of audit evidence : 1) Mathematical Recalculation 2) Inquiry 3) Re-performance 4) Analytical Procedures 5) Documentation (inspection of) 6) Confirmation 7) Observation 8) Physical Inspection of Assets 9) Scanning Nature of Evidence • Evidence is any information used by the auditor to determine whether the information being audited is stated in
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BA 291.2 - Strategic Management 2 Group #10 Eliza Asis Royson Ong Edaine Joyce Paz Niño James Ramos Case 6. Schlumberger Case Analysis (Organizational Change and Renewal) Background: “One of the world’s largest leading oilfield service providers” Schlumberger is the world’s leading supplier of technology‚ integrated project management and information solutions to customers working in the oil and gas industry worldwide. Employing approximately 120‚000 people representing over 140 nationalities
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events leading to the collapse of Centro‚ analyse the role of the directors and the auditors in the collapse‚ and discuss the court case Stephen Cougle-who presided Centro’s audit in 2007. Events result in collapse of Centro The 2007 annual reports of Centro and Centro Retail Group (CER)-a subsidiary company of Centro failed to disclose significant matters. In the case of Centro‚ the report failed to disclose some $1.5 billion of short-term liabilities by classifying them as non-current liabilities
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“Accounting did not cause the recent corporate scandals‚ unreliable financial statements were the results of management decisions‚ fraudulent or otherwise”. (Lin & Wu‚ 2006‚ para. 5) Waste Management‚ HealthSouth‚ Enron‚ Satyam and Madoff are just a few names that come to my mind when I think of fraudulent accounting. Disguised loans‚ inflated income‚ improper accounting and misstated earnings‚ different words all describing the same thing‚ FRAUD. Fraud affects the company‚ the consumers
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Case Study 6 New Product development Timo Jones Submitted to Jessica Cobbs 9/15/2013 Case study 6 Question 2 You have been hired as a consultant to a small clothing manufacturer who wants to emulate the success of Zara and Benetton. She wants advice on an innovation strategy which takes the key lessons from these successful firms. What would you offer? (Tidd 295) Within the entire business a change needs to be made in order to transition into a more electronically effective business
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Auditing Theory 1. A control which relates to all parts of the EDP system is called a(n) a. Systems control c. Applications control b. General control d. Universal control 2. Which of the following is not an output control? a. Proper authorization of transaction b. Control totals c. Check digits d. Adequate documents 3. Should the auditor feel‚ after obtaining an understanding of the EDP internal control structure‚ that control risk cannot be reduced‚ he or she will a. Issue a disclaimer b. Issue
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Case Analyses 6 Abstract Case Analyses: select TWO court cases (from different chapters) from the list below‚ and respond in writing to the case questions. The written analysis of both cases should be approximately 2-3 pages total; use parenthetical citations and a corresponding works cited list when referencing specific information from the text or other sources‚ and follow other prescribed guidelines for APA format. Vallone v. CNA Financial
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Chapter 1 Assurance Services The broad range of information enhancement services that are provided by CPAs There are two types: -Increase reliability of information -Putting information into a form or context that facilitates decision making Types of Services Assurance Services -Attestation Services Example: Audits of Financial Statements‚ Examinations of Internal Control -Other Assurance Services Example: CPA ElderCare Prime Plus Services Non Assurance Services -Tax Services -Management
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This document contains ACC 541 Week 6 - Auditing a Publicly Traded Company As a Staff I assigned to the audit of a publicly traded company‚ your senior has asked you to evaluate both share-based payment reporting and special purpose entities (SPE) reporting for the company. Research share-based payment reporting and SPE reporting individually. Write a 700- to 1‚050-word executive memo as a team that includes a description of what you will look for to see if the client is
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------------------------------------------------- Chapter 4 Summary Life on the island soon develops a daily rhythm. Morning is pleasant‚ with cool air and sweet smells‚ and the boys are able to play happily. By afternoon‚ though‚ the sun becomes oppressively hot‚ and some of the boys nap‚ although they are often troubled by bizarre images that seem to flicker over the water. Piggy dismisses these images as mirages caused by sunlight striking the water. Evening brings cooler temperatures again
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