and the control for inventory movement will be more difficult. It requires more audit attention due to the nature of the entity’s business. We also have to consider whether they have used off-balance sheet in order to require a funding from bank borrowing. Although it is supported by the latest audited financial statements‚ however auditor may express the opinion based on the off-balance sheet which the company provided. One of the other factors is the changes in key personnel including
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Possibly one of the most famous literature Authors is C. S. Lewis; however‚ with this fame comes controversy of the content produced by this writer. This bestselling literature‚ author did not only stick to fiction but after Becoming a Christian wrote a number books on the topic of religion. Many of these books‚ while containing aspects of Christianity‚ are written as stories with symbolism referencing Christianity rather than the doctrine alone. Many creative liberties were taken in the writing
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C.S Lewis starts off with narrating the main events of his childhood that formed how he thought and acted. Of course the beginning is the character of his parents‚ which he humorously contrasts – emotional and vivacious father‚ calm and rational mother. Other elements are his inclination towards imagining‚ drawing‚ and writing instead of sports due to a missing knuckle in his thumb‚ the turbulence caused by the death of his mother and calm stability‚ the consequential growth in friendship and camaraderie
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1 Mary v Peter Issue Given that Mary was injured by Peters’ act‚ is he solely liable for the accident? Law * In this case‚ we have to look at the Civil Liability Act 2002 (NSW) to determine who was negligent and in specific‚ we use s 5B(1)‚ s 5B(2) and s 5R of the Civil Liability Act 2002 (NSW); s 5B(1) for the reasonable foreseeability test‚ s 5B(2) for determining if the standard of reasonable care has been breached and s 5R for contributory negligence. * Where both the parties seem
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AICPA Code of Professional Conduct Composition‚ Applicability and Compliance The Code of Professional Conduct of the American Institute of Certified Public Accountants consists of two sections—(1) the Principles and (2) the Rules. The Principles provide the framework for the Rules‚ which govern the performance of professional services by members. The Council of the American Institute of CPAs is authorized to designate bodies to promulgate technical standards under the Rules‚ and the Bylaws
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setting process? Why or why not? The Enron collapse was by no means due to a failure in the standard setting process instead‚ the collapse resulted from Enron’s fast growing rate and its highly “creative” management team who at one point just lost control of the business. The company stopped doing what it was known for doing best‚ energy generations‚ and began exploring and operating in a new and unknown business segment and a new industry. The standard setting process was indeed effective; however
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For the accounting field‚ the American Institute of Certified Public Accountants (AICPA) maintains and enforces a code of professional conduct for public accountants. By adhering to the code‚ accounting professionals assume an obligation of "self-discipline above and beyond the requirements of laws and regulations" (AICPA‚ 2006‚ para. 8). The duties placed on accounting professionals by the code of ethics require "professional competence‚ confidentiality‚ integrity‚ and objectivity" (Bookrags‚ 2006
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compliance with SOX? And why or why not? I agree with Apex to attain full compliance with SOX. As you know about Apex is private company and will be seeking for new external funding to expansion into a new segment of the printing sector therefore‚ the new investors are needed for them because they have to access capital market to raise money for the expansion to a lot invest in equipment as well as substract inventory and adding more promotional costs thus they have to going publics and this is a
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Topic – Companies Act 2013 Introduction Companies Act‚ 2013 is an Act of the Parliament of India which regulates incorporation of a company‚ responsibilities of a company‚ directors‚ and dissolution of a company. The 2013 Act is divided into 29 chapters containing 470 clauses as against 658 Sections in the Companies Act‚ 1956. The Act has replaced The Companies Act‚ 1956 (in a partial manner) after receiving the assent of the President of India on 29 August 2013. The Act came
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Audit exam 1 Study online at quizlet.com/_flu67 1. A Which is usually included in an engagement letter? (A reference to GAAP/A reference to GAAS) A. Yes/Yes B. No/No C. Yes/No D. No/Yes 2. A Which of the following statements is true? A) Auditors have generally found that the most effective and efficient way to conduct an audit is to obtain some assurance for each class of transaction and for the ending balance of the related account. B) Management ’s assertions follow and
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