Adeniji‚ A. (2004): Auditing and Investigation. Lagos‚ Value Analysis Publishers. Agbaje‚ F. (2007). Nigeria Auditors and the Distressed Finanancial Sector. The National Accountant‚ 6(4) 36-37. Buhari(2001).Internal auditor control system. Journal of auditor (2001) 42. 423-425. Dyck‚ A.‚ Morse‚ A. and Zingales‚ L. (2008). Who blows the whistle on the Corporate fraud? www.ssrn.com (Retrieved 8/03/2011) Gay‚ G.‚ Schelluch‚ P.& Reid‚ I. (2002): Users’ Perceptions of the Auditing Responsibilities for
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Viktoria Martirosyan Case 1.1 Qt.1 Several parties were responsible for Enron crisis‚ including independent auditor‚ key executive officers‚ internal auditors‚ SEC and FASB. The hypocrisy‚ dishonorable actions and unethical behavior of Kenney Lay‚ Jeffrey Skilling‚ Andrew Fastow led to bankruptcy. This and many other problems‚ such as loss in transactions involving the swaps stocks‚ SPE related issues and est.‚ finally contributed to crisis. As Enron executives‚ all of their concerns should
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WHY IS AUDITOR INDEPENDENCE SO IMPORTANT? Auditing is the efficient critical examination done by one person or group of people’s independent from the system audited. To do an audit‚ confirmed information must be present and some standards by which the auditor can evaluate the information. Another is gathering and evaluating any information to determine whether the information being audited is identified in accordance with establish criteria to satisfy the purpose of the audit and also auditors must
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material fraud and illegal client acts to the audit committee and the Board of Directors. If the financial statements are not restated‚ the auditor should issue a qualified‚ an adverse opinion or consider withdrawing from the engagement. The team auditing Enron should have followed the guidance when the management acted with scienter. As mentioned in the case‚ Arthur Andersen was being paid exorbitant amounts of money to audit Enron and attest to the validity of its financial statements. The firm
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Practice Exam – 10 Points ACC/490 Auditing Student Name: Multiple Choice – Highlight the best answer Point Value: .25 each 1. Which one of the following is among the three components of audit risk? a. incurrence risk b. occurrence risk c. rejection risk d. control risk 2. The Hochfelder Case is important because it limited auditor liability under: a. the 1933 Securities Act. b. the 1934 Securities Exchange Act. c. common law. d. RICO. 3. Which of the following
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Continuous monitoring and continuous auditing From idea to implementation Continuous Monitoring and Continuous Auditing: From Idea to Implementation Most financial and auditing executives are aware of continuous controls monitoring and continuous auditing and of the general benefits of such programs. Yet relatively few enterprises have realized their full potential‚ particularly at the enterprise-wide level. Deloitte sees the reason for this as twofold: first‚ executives have not seen
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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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9 Auditing Cash and Revenues C A S ES INC LU DE D IN T HIS SE CTION 9.1 Wally’s Billboard & Sign Supply . . . . . . . . . . . . . . . . 259 . . . . . . . . . . . . . . . . . . . . . . . . . . 279 The Audit of Cash 9.2 Henrico Retail‚ Inc. Understanding the IT Accounting System and Identifying Audit Evidence for Retail Sales 9.3 Longeta Corporation . . . . . . . . . . . . . . . . . . . . . . . . 285 Auditing Revenue Contracts 9.4 Bud ’s Big Blue Manufacturing
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to fund a building in his name. Buntrock was not the only one involved in the fraud at Waste Management. Phillip B. Rooney‚ president and COO‚ James Koenig‚ CFO‚ and four other officers were named in the complaint by the SEC. In addition‚ the auditing firm Arthur Anderson was alleged to have been aiding Waste Management in their schemes. Every CFO and CAO in Waste Management’s history as a public company had previously worked as an auditor at Anderson. This interesting fact gives some insight
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strong accounting information system in place but there is room for improvement. Kudler’s has taken the steps in the correct direction by implementing an industry specific system. Computer technology only makes auditing Kudler Finer Foods easier and more accurate. Computer assisted auditing tools and techniques CAATs is highly recommend for Kudler finer Foods. The ability to share information with clients and auditor’s is one of the selling points. The main selling point of using CAATs is that every
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