control framework used to conduct its assessment of internal controls. Discuss the options in selecting a control framework. Regarding the control framework‚ the SEC has made specific reference to COSO as a recommended model. Furthermore‚ the PCAOB Auditing Standard No. 5 endorses the use of COSO as the framework for control assessment. Although other suitable frameworks have been published‚ any framework used should encompass all of COSO’s general themes 24. Prior to SOX‚ external auditors were required
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Audit Documentation Purpose: 1. Main evidence of procedures‚ work performed on audit 2. Prepare sufficient & appropriate audit documentation on timely basis 3. enhance audit quality 4. facilitate effective review 5. evaluate audit evidence obtained & conclusions reached before finalizing auditor’s report 6. assisting audit team plan & perform for audit 7. assist audit team members’ supervise & direct audit work‚ discharge responsibilities (Quality Control
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Chapter 1- Demand for Audit and Assurance Services Assurance Services- Are the independent professional services that improve the quality of information for decision makers. Individuals who are responsible for making business decisions seek assurance services to help improve the reliability and relevance of the information used as the basis for their decisions. Assurance services are valued because the assurance provider is independent and perceived as being unbiased with respect to the information
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Leased property ii. Goodwill (b) Makau and Associates‚ an accounting firm‚ are the auditors of Eastview Petroleum Ltd. For the year ended 31 December 2012. You are a member of the audit team and the following information relates to the client: 1. The company has six petrol stations located in different parts of the country and has a head office in the capital city. 2. Each petrol station sells fuel. In addition‚ each petrol station has car wash services‚ a garage‚ a retail shop for motor accessories
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1. In the 17th century two people who thought that children should be treated with thought and care were: a. Locke and Rousseau b. Rogers and Maslow c. Dixon and Binet d. Freud and Freud 2. Adults may underestimate children’s ability to: a. Learn b. Problem-solve c. Recognize reality d. All of the above 3. Family conditions that promote resilience include: a. few alternative caretakers. b. older mothers for resilient males. c. opportunities to participate d. a strong sense of political commitment
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a) The Report’s main points The report identifies the complexities that exist within the economic paradigms with relations to uncertainties and economic instability that have characterized the markets and businesses at large. The report analyzes the imperatives of organizations identifying efficient approaches to governance‚ risk and compliance (GRC). This is a sensitization on the part of various business organizations and entities about business environment that involves a number of risks and
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Dell case According to the 10-K filed on 30/13/2012 on Dell’s website‚ the following data has been appeared on the fiscal 2012 financial statement. Sales: 62‚071 Total Assets: 44‚533 Net income: 3‚492 Cash flows from operating activities: 5‚527 Number of employee: 2012 109‚400(106700 regular employee and 2‚700 temporary employee) 2011 103‚300(100‚300 regular employee and 3‚000 temporary employee) 39‚900 located in USA and 66‚800 in other countries Dell’s products Dell’s products
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Question 1 Incentives: Financial pressures from changes in the market and industry intense competition (national‚ regional‚ local) under cut prices from municipalities that could offer lower prices by using tax revenue. Pressure to meet earnings expectations Stock ownership benefits Retirement benefits Performance based bonuses Maintain growing stock price Maintain industry leadership Maintain reputation Opportunities: Able to use a lot of estimates in depreciation of PPE (over 1/2 of assets)
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honour or reputation of the author. Designated person authorising scanning: Anne Petrie Module title: Strategic management (accounting‚ economics and finance) Module number: UMSD7U-15-3 Extract Author: Ghoshal‚ S and Ackenhusen‚ M Extract title: Case 10: Canon: Competing on Capabilities Book Author/Editor: De Wit‚ B & Meyer‚ R Year Published: 1998 Book title: Strategy: process‚ content‚ context: an international perspective Edition: 2nd Publisher: International Thomson Business Press‚ London Page
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Pattern 3 Chapter One 11 Upper pattern 12 Pattern for leather lining 13 Chapter Two 16 Pattern for strengthening the décolleté in front of the last 17 Thin non-woven lining 17 Chapter Three 18 “Pumps Shoes Pattern Guide”. 19 Basic Pumps Pattern 1. Cover the last with adhesive tape strips and mark the center lines on its front and back. 2 . Mark the last meridians - lines that has the most contact between the shoes to the foot. These lines are the borders of the cut on the pump shoes‚ so-called
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