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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| | |The History of Auditing | |A detailed overview | |
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Information (FTI) By Proactive Auditing Introduction The traditional way to audit a system involves identifying issues that have already occurred‚ then reviewing audit logs to determine which relevant events are of a serious nature. While this "after the fact" or “passive” auditing is an important tool in data security‚ an auditing program requires significant resources in people‚ process and technology to effectively identify potential incidents in a timely manner. Auditing management should be
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Page 1 of 7 CPA REVIEW SCHOOL OF THE PHILIPPINES Manila AUDITING THEORY Professional Accounting Practice Related PSA : Preface to PSA and Related Services 1. The following statements relate to the accounting profession: I. To merit public trust and confidence‚ the professional person must convince the public that he will place public service ahead of personal reward. II. A CPA certificate is evidence of basic competence in the discipline of accounting at the time the certificate
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are departures from the standard wording‚ users are more likely to recognize and consider situations requiring a modification or qualification to the auditor’s report or opinion. 3-2 The unqualified audit report consists of: 1. Report title Auditing standards require that the report be titled and that the title includes the word independent. 2. Audit report address The report is usually addressed to the company‚ its stockholders‚ or the board of directors. 3. Introductory paragraph The introductory
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Definitions (2) 1. An examination and verification of a company’s financial and accounting records and supporting documents by a professional‚ such as a Certified Public Accountant. 2. An audit is an IRS examination of an individual or corporation’s tax return‚ to verify its accuracy. There are three types of audits: correspondence audits (the IRS mails a request for additional information)‚ office audits (an interview is conducted at a local IRS office)‚ and field audits (an interview is conducted
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Memo To: John Doe From: Team C Date: February 20‚ 2012 Subject: Auditing‚ share-based payment and SPE reporting A publically traded company offers challenges to auditing when it comes to shared-based payment reporting and special-purpose entities (SPE) reporting individually. The most basic principle of GAAP at risk is the qualitative characteristic of reliability. Shared-based payment and SPE reporting individually has been broken down to better equip the audit for our client. It is important
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Introduction Centro Properties Group (Centro) owns develops‚ manages‚ and leases retail properties in Australia and New Zealand‚ it oversees a portfolio of more than 100 properties leased to supermarkets‚ department stores‚ and other retailers (Hoover’s Inc 2013). Centro created largely by former chief executive Andrew Scott and once valued at almost $10 billion by the market‚ the share price collapsed in December 2007 when the company revealed that it was struggling to refinance$1.3 billion. Centro
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cAst 2.1 Yourl040Return.com Evoluoting eBusiness Revenue Recognition‚ lnformstion Privocy‚ ond Eledronic Evidence lssues -’u ’-:; s. Brasr‚nv’FnaNrA. Bucruess . srsvsx M. Gr‚ovnn.Doucr‚as F. pnawrrr [.EARNING OBJECTIVES .*-::: :ompleting and discussing this case you should be able to [5] Recognize issues surrounding the privacy of customer information [6] Describe audit implications when transaction evidence is solely electronic [7] Recognize threats to eBusiness strategies
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Auditing Chapter 3 Homework 3-27 a. These are the items that should be included in the auditor’s report: 1. Normal receivable confirmation procedures‚ although not used‚ should not be listed here since it was not material‚ and the auditor was able to gain a satisfactory opinion from the client’s use of them. 2. The change in the accounting method for long-term construction doesn’t need to be included here since it is discussed in the footnotes. 3. Lawsuits are normally included
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