Running head: INTERNAL ACCOUNTANT’S REPORT TO MANAGEMENT Internal Accountant’s Report to Management ACCT 556 Introduction As the internal accountant of the European Newspaper Company‚ I have to perform various financial operations‚ and I am considered the expert in this field. As we all are faced with preparation for the upcoming government contract bid‚ we need to have a better understanding of how our company runs the business and issues that we can face if we
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of the spectrum allocation process to favour select companies The issue came to light after the auction of airwaves for 3G services which amounted to 677‚190 crore (US$151.01 billion) to the exchequer.[2] A report submitted by the Comptroller and Auditor General based on the money collected from 3G licenses estimated that the loss to the exchequer due to under pricing of the 2G spectrum was 176‚379 crore (US$39.33 billion).[3] The scam came to public notice when the Supreme Court of India took Subramaniam
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Public Company Accounting Oversight Board; Will it Protect Investors? The Public Company Accounting Oversight Board (PCAOB) was created by Sarbanes-Oxley Act of 2002. This board was created to oversee the audit of public companies‚ subject to the securities laws‚ in order to protect the interests of investors (15 USC 7201‚ 2002). It was created in wake of the recent financial scandals of Enron‚ WorldCom‚ and Global Crossing to name a few. This "Act" established by Congress is to create an oversight
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Challenges of corporate governance in Bangladesh Published : Thursday‚ 13 December 2012 Dipok Kumar Roy Sir Adrian Cadbury was chairman of Cadbury Ltd from 1965 and of Cadbury Schweppes during 1975-1989. A pioneer in raising awareness and stimulating the debate on corporate governance‚ he produced the Cadbury Report‚ a code of best practice‚ which has served as a basis for reform of corporate governance around the world. On the challenges to implementing corporate governance‚ Sir Adrian Cadbury
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C.‚ Macintosh‚ N.‚ and M. Stein. (2007). Management controls: the organizational fraud triangle of leadership‚ culture‚ and control in Enron. Ivey Business Journal Online Gpo.gov‚ (2002). FINANCIAL OVERSIGHT OF ENRON: THE SEC AND PRIVATE-SECTOR WATCHDOGS. [online] Available at: http://www.gpo.gov/fdsys/pkg/CPRT-107SPRT82147/html/CPRT-107SPRT82147.htm [Accessed 12 Dec. 2014]. Hanna‚ J. (2014). The Costs And Benefits Of Sarbanes-Oxley. [online] Forbes. Available at: http://www.forbes.com/sites/hbs
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write and test PLC programs compliant to IEC 61508 and IEC 611313. Being able to simulate watchdog timer failure in both software and hardware to IEC 61508 and IEC 611313 in the classroom educational environment is also paramount to any professional PLC training course. Therefore; for classroom training purposes‚ a PLC used to emulate real world functionality requires three levels of watchdog compliance and the provision to connect the PLC to real world electrically independent failsafe simulation circuits using a low
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Hollate Manufacturing Case Study About this case study: This case study was developed as a joint effort by the Center for Audit Quality‚ Financial Executives International‚ The Institute of Internal Auditors‚ and the National Association of Corporate Directors. These four organizations have formed the Anti-Fraud Collaboration to actively engage in efforts to mitigate the risks of financial reporting fraud. The Collaboration’s goal is to promote the deterrence and detection of financial reporting
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INTRODUCTION KLCC Property Holding Bhd KLCC property Holding Bhd (KLCCP) is a public listed company since year 2004. The primary businesses of KLCCP are managing‚ controlling and developing the property in area around the KL twin town. It has two wholly-owned companies namely KLCC Urusharta Sdn Bhd and KLCC Parking Management Sdn Bhd which are providing facilities and car parking respectively. In order to achieve the concept of “city within the city” which was proposed by former Prime Minister
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Academy of Management Review 2006‚ Vol. 31‚ No. 1‚ 10–29. CONFLICTS OF INTEREST AND THE CASE OF AUDITOR INDEPENDENCE: MORAL SEDUCTION AND STRATEGIC ISSUE CYCLING DON A. MOORE Carnegie Mellon University PHILIP E. TETLOCK University of California‚ Berkeley LLOYD TANLU MAX H. BAZERMAN Harvard University A series of financial scandals revealed a key weakness in the American business model: the failure of the U.S. auditing system to deliver true independence. We offer a two-tiered analysis of what went
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References: U.S. Securities and Exchange Commission. Audit Committees and Auditor Independence. Retrieve from: http://www.sec.gov/info/accountants/audit042707.htm. October 27‚ 2014. U.S. Securities and Exchange Commission. Sarbanes-Oxley Act of 2002. Retrieve from: https://www.sec.gov/about/laws/soa2002.pdf. October 27‚ 2014.
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