Standards Introduction Self-regulated: the standards governing audits were established by members of the profession themselves Sarbanes-Oxley Acct of 2002 Created: Public Company Accounting Oversight Board (PCAOB) to provide external and independent oversight over the audits of public entities Responsible for registering public accounting firms‚ establishing standards for audit engagements‚ and inspecting the quality of audits conducted by public accounting firms ****Generally Accepted Auditing
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assertions and audit objectives - Define management assertions and the related audit objectives - Describe management assertions related to class of transactions‚ balances and presentation and disclosures - List out and describe general transaction related audit objectives‚ balance related audit objectives and presentation and disclosure audit objectives - Understand specific audit objectives and how they are linked to general audit objectives and management assertions Topic 4 – Audit evidence
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theft. D. Expected effectiveness of controls. 13. The risk that an auditor’s procedures will lead to the conclusion that a material misstatement does not exist in an account balance when‚ in fact‚ such misstatement does exist is referred to as A. Audit risk B. Inherent risk C. Control risk D. Detection risk 14. Evidential matter concerning proper segregation of duties ordinarily is best obtained by A. Preparation of a flowchart of duties performed by available personnel. B. Inquiring whether
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AUDITING THEORY 1. Which of the following activities is an analytical procedure an auditor would perform in the final overall review stage of an audit to ensure that the financial statements are free from material misstatement? A. Reading the minutes of the board of directors’ meetings for the year under audit. B. Obtaining a letter concerning potential liabilities from the client’s attorney. C. Comparing the current year’s financial statements with those of the prior year. D. Ensuring that
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expectations for revenue accounts Recognize factors that lead to precise expectations of account balances Appreciate the degree of professional judgment involved in evaluating differences between expected and reported account balances Understand the audit planning implications of using analytical procedures as substantive tests of account balances Burlington Bees‚ an independent‚ minor league baseball team‚ competes in the North-west Coast League. The team finished in second place in 200X with
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| Introduction Pepsi co is a carbonated beverage that is produced and manufactured by PepsiCo. It is sold in stores restaurants and from vending machines. The drink was first made in the 1890s by a pharmacist Caleb Bradham in New Bern‚ North Carolina. The brand was trademarked on June 16 1903.The has been many Pepsi variants over the years since 1903 to name a few they have Diet Pepsi‚ Crystal Pepsi‚ Pepsi Twist‚ Pepsi blue‚ Pepsi raw‚ Pepsi one etc. PepsiCo is situated in
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percentage. The appearance‚ smell and taste of the production are suspended and the correcting measures are taken also as to sent right the bottling process. The main objective of the study is to find out the strength and weakness of the Pepsi in visakhapatnam zone when compared to the Coca-cola‚ that is mainly in the three places in Srikakulam district i.e. Srikakulam‚ Narasannapeta‚ and Amadalavalasa .Consulting almost all the outlets in these three areas‚ which are selling the soft drinks
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in India since 1990 and is involved in business of manufacture & selling of foods & beverages. It has 3 divisions viz * Carbonated beverages division which sells leading CSD brands such as Pepsi ‚ Mirinda ‚ Mountain Dew ‚ Slice ‚ Nimbooz ‚ Twister. * Frito Lay India which sells leading food brands such as Frito Lay ‚ Uncle Chipps ‚ Cheetos ‚ Kurkure & Quaker Oats. * Tropicana beverages which sells the non-carbonated range of healthy beverages such as Tropicana juices ‚ Gatorade
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Skills Audit Work Experience Level 5 Use the following scale to rate the skills checklist‚ Please fill in the sheet as accurately as possible so as to get the maximum benefit from the excerise; Your skill in the area Importance in vocational area 1 unskilled 1 irrelevant 2 very poor 2 unnecessary 3 poor 3 a little relevant 4 passable 4 relevant 5 adequate 5 of some use 6 satisfactory 6 useful 7 good 7 beneficial 8 very good 8 very beneficial
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Financial Management: Coke vs. Pepsi BUS 508 – Business Enterprise June 11‚ 2011 Financial Management: Coke vs. Pepsi The purpose of this paper is to analysis companies Coke and Pepsi and determinate (a) which company is better able to pay current liabilities (debt)‚ (b) explain what profitability ratios can tell about a company’s performance and how that information would influence investing decisions‚ (c) discuss which financial ratios to utilized while examining the company’s most
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