Koger Properties‚ Inc. 1.) The SEC has a strong case against Goodbread for violating his independence because as it is stated on the AICPA’s website‚ “Independence shall be considered to be impaired if: During the period of the professional engagement a covered member was committed to acquire any direct or material indirect financial interest in the client.” (aicpa.org 101-1). In Goodbread’s case this refers to the fact that he had shares of stock (direct financial interest) in his possession
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A case study is a description of an actual administrative situation involving a decision to be made or a problem to be solved. It can be a real situation that actually happened just as described‚ or portions have been disguised for reasons of privacy. Most case studies are written in such a way that the reader takes the place of the manager whose responsibility is to make decisions to help solve the problem. In almost all case studies‚ a decision must be made‚ although that decision might be to
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201037076 Puriza U. Topic: Using technology to improve internal audit communications in the Banking Sector Background Internal auditing has come a long way over the last two or three decades. In the past‚ internal auditing was seen as a mechanism to double-check the thousands of financial transactions that were posted to the accounts each week. Today an internal auditor facilitates the development of suitable controls as part of a wider risk strategy‚ and provides assurances on the reliability
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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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| | |The History of Auditing | |A detailed overview | |
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judgments about the case when Arthur Anderson failed its tasks to detect fraudulent financial activities on Enron and several different companies. The Enron Company filed bankruptcy in December of 2001.Being well known as a big energy company which headquarters is located in Houston‚ the bankruptcy of the company drew lots off attentions from business world. Questions were asked and lots of financial misstatements were revealed and Arthur Andersen – Enron’s external auditing and accounting firm
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[pic] ACCTG 312 SC 2012: Assignment 1 Current issues – scandals in auditing Introduction • For this assignment‚ you are required to research and report back on one of four well known scandals that involve auditors in some way. • It can be commenced after week 1 lectures are completed‚ so gives you a chance to get part of your semester’s work done early. It is due in week 3 (Thursday at 4 pm). • You will also be required to very briefly report to your tutorial group on one interesting
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SCOPE OF AUDIT 6 ANSWER: TOPIC 2 - DISTINCTION BETWEEN ACCOUNTING AND AUDITING 7 ANSWER: TOPIC 3 - TYPES OF AUDITS AND AUDITORS 8 ANSWER: TOPIC 4 - MEANING OF TRUE AND FAIR VIEW 9 ANSWER: TOPIC 5 - DESCRIBE THE PROFESSIONAL ETHICS THAT ARE RELEVANT TO AUDITORS 10 CONCLUSION 11 APPENDIX 12 REFERENCES INTRODUCTION After done this assignment‚ we can understand deeper on the job of auditing. First of all‚ the knowledge that we receive in the first topic is we can
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AUDITING IN A CIS ENVORONMENT With the introduction of computers‚ conventional accounting systems and methods using papers‚ pens and abacuses have undergone drastic changes‚ therefore exerting a great impact on internal control and audit trails in following audit procedures. Also‚ the introduction of computer has brought an immense increase in the availability of electronic resources. My topic is entitled auditing in a Computerized Information System (CIS). One purpose why this topic is included
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DEFINITION OF AUDITING Auditing is described as the independent examination of and expression of an opinion on the financial statements of an enterprise by an appointed auditor in pursuance of that appointment and in compliance with any relevant statutory obligation. Thus auditing of information systems can be defined as independent examination of and expression of an opinion on the development‚ documentation and controls of information systems of an enterprise by an appointed auditor in pursuance
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