1.Who are the biggest customers? The most profitable? The most attractive potential customers? Do the customers fall into any logical groups based on needs‚ motivations‚ or characteristics? Please make clear what your answers are based on and state used sources. In the past Nokia customers are consist of high-end‚ mid-end‚ and lower-end customers. But when the market was penetrated by IOS from Apple and Android from Google slowly Nokia is losing their market share. Now their biggest customers
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CHAPTER 1 REVIEW QUESTIONS 1.2What qualities must an ‘assurer’ have in order for you to feel that their statement has high credibility? An assurer must have the knowledge and expertise to assess the truth and fairness of the information being presented by the preparers. Auditors of financial reports need to be trained accountants with detailed knowledge about the complex technical accounting and disclosure issues required to assess the choices made by the financial report preparers
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QUALITY STANDARDS IN AUTOMOTIVE INDUSTRY Submitted by: PRIYA.M QUALITY STANDARDS IN AUTOMOTIVE INDUSTRY Quality professionals use the term “standards” to mean many things‚ such as metrics‚ specifications‚ gages‚ statements‚ categories‚ segments‚ groupings or behaviors. But usually when they talk about standards‚ they’re talking about quality management. Management standards address the needs of organizations in training‚ quality auditing and quality-management systems. The ISO 9000 Series‚ for
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They are having shortage of fund and decided to make an application for loan. It is required for them to submit the Audited Financial Statements for the last two years. Encik Zayed decided to perform a statutory audit for his company by having an external Auditor Aziz & Co (Chartered Accountant) as to perform the audit work from 2003 until 2006. It such a difficult experience for Encik Zayed & Pn Hashimah as it was their first time learned an audit experience. Due to some of the irregularities
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Cendant Corporation Evaluating Risk of Financial Statement Fraud and Assessing the Control Environment Describe the auditor’s responsibility for considering a client’s internal controls Describe the auditor’s responsibility to detect material misstatements due to fraud Identify red flags present during the audits of CUC International‚ Inc.’s financial statements‚ which suggest weaknesses in the company’s control environment (CUC was the predecessor company to Cendant Corporation) Identify
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audit the size of Parmalat. Clearly‚ auditors failed to do the due diligence‚ thereby indirectly contributing to the failure of Parmalat. Italian law requires both listed and unlisted companies to have a board of statutory auditors as well as external auditors and also requires the reselection of auditors by the board of directors every three years and the rotation of auditors after three consecutive selections. A big size company‚ such like Parmalt‚ need independent auditor. What is independent
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subjective FREQUENCY: PAs: Frequently AGs: Frequently CRA: Never Internal: Frequently Compliance PURPOSE: To determine whether the client is following specific procedures set by higher authority USERS: Authority setting down procedures‚ internal or external NATURE: Highly non-standard; often subjective FREQUENCY: PAs: Occasionally AGs: Frequently CRA: Always Internal: Frequently Financial Statements PURPOSE: To determine whether the overall financial statements are presented in accordance with an acceptable
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The WorldCom scandal was actually brought to light by the internal auditor‚ Cynthia Cooper. Cooper and her team‚ Gene Morse and Glyn Smith uncovered the fact that line costs were being transferred to capital accounts. Cooper was originally tipped off to the fact that something was amiss when the head of WorldCom’s wireless business paid her a visit‚ upset that he was loosing $400 million that had been set aside to make up for shortfalls if customers didn’t pay their bills. Scott Sullivan‚ CFO of
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Course Schedule Course Modules Review and Practice Exam Preparation Resources Introduction to Advanced External Auditing Course description and purpose Advanced External Auditing [AU2] is the second of three courses in the auditing stream in the CGA Program of Professional Studies. AU2 elaborates on the concepts and procedures of external auditing introduced in External Auditing [AU1] or an equivalent course. AU2 also introduces you to some of the changes that the auditing profession
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ISSAI 30 The International Standards of Supreme Audit Institutions‚ ISSAI‚ are issued by the International Organization of Supreme Audit Institutions‚ INTOSAI. For more information visit www.issai.org INTOSAI Code of Ethics I NT OS AI P r ofe ss i o n a l S t an d ar ds Co m mi t te e PSC-Secretariat Rigsrevisionen • Landgreven 4 • P.O. Box 9009 • 1022 Copenhagen K • Denmark Tel.:+45 3392 8400 • Fax:+45 3311 0415 •E-mail: info@rigsrevisionen.dk INTOSAI EXPERIENTIA MUTUA OMNIBUS
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