CHAPTER AUDIT PLANNING AND ANALYTICAL PROCEDURES THE FALL OF ENRON: DID ANYONE UNDERSTAND THEIR BUSINESS? 8 LEARNING OBJECTIVES After studying this chapter‚ you should be able to 8-1 Discuss why adequate audit planning is essential. Make client acceptance decisions and perform initial audit planning. Gain an understanding of the client’s business and industry. Assess client business risk. Perform preliminary analytical procedures. State the purposes of analytical procedures and the timing
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Unit 5 Case study 1: Hassan’s Story Page 184. 1. The 2 types of major surface markings that bones have are depression/openings and processes. 2. The skull bone in which metopic sutures are found is within the skull of a new born‚ that’s one reason why Liu and Hassan were surprised to find metopic sutures in an adult skull. The other reason is because after the age of six or so‚ the sutures should have disappeared. 3. The delicate skeletal structures that are found inside the nasal cavity
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Case 1 Gross Domestic Product or also known as GDP is the total market value of all the final goods and services produced within the economy in a given year. Real GDP measure the total output and does not increase just because the price increases. Real GDP uses the same prices for both years. From the information that was provided in the question we can then find what the growth in real GDP will be. The value of the real GDP’s produced in 2013 were 10 shirts at $20 dollars each and 5 hamburgers
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Homework #1 Bonne Consulting Group Based on the information giving‚ the internal controls missing in Helen’s company is the separation of duties. This company should have in place internal controls where a person works with consultant‚ another person or department initiate the payment process someone else authorize payments and accounting should disburse payments. Also the fact the company merge with a bigger company and no one controlled other accounts such as the Jackson & Company shows the
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Case study 5: Aggression As the athletic director at a large school‚ the issue of sexual actions is very important for the safety and protect for everyone on campus. The action of athletic director is to set up a policies on sexual assaults with the goal to limited chances. For starters‚ i would put a committee together to help find studies about involvement of athletes and sexual assault incident. The purpose is to find the reason or cause of incident to occur. Then‚ i would have survey
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Social Auditing: Environmental Ethics Issues Characters: George Holt financial director Kim Hopkins internal auditor Senior Management Brian Henderson professional accountant (friend) Phone ringing by George to Kim George: hello!!!! Kim Kim: Yes‚ sir!!! George: Kim‚ I would like to highlight to you‚ that our management board meetings is schedule to next week Monday. Kim: Humm!!! George:I want you to make audit report on the company’s affaires….including graphs and figures…with full
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Three Assignments This week we will study organizational and managerial issues in logistics‚ factors that play a role in organization’s logistics effectiveness and efficiency‚ and the ways to enhance effectiveness and efficiency. We will look at organizing logistics within the firm‚ focusing on organizational structure. Assignment 3.1 – Reading assignments Read the following: Chapter 4: Organizational and Management Issues in Logistics Assignment 3.2 - Individual homework Answer questions
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Case Study 1 Project Management Analysis in the Internet Forecasting Industry Group 4 Dilip Chinnaswamaiah‚ Ruiying Liu‚ Sandhya Aparna Pashikanti‚ Yingqi Yang‚ Hao Zhu Executive Summary In this case‚ our group used the techniques such as PERT‚ project crushing and visualization to solve the scheduling problems encountered in a development project at B&W Systems. We came up with the expected completion time and crashing solution to help the company meet the deadline. The problem was successfully
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accounting results through its publication of this document. When legal or accounting issues arise‚ professional assistance should be sought and retained. The Professional Practices Framework for Internal Auditing (PPF) was designed by The IIA Board of Directors’ Guidance Task Force to appropriately organize the full range of existing and developing practice guidance for the profession. Based on the definition of internal auditing‚ the PPF comprises Ethics and Standards‚ Practice Advisories‚ and Development
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Case Study 1 (Part A) P2-69B (Learning Objectives 4‚ 5‚ 6: Analyze the impact of business transactions on accounts; record (journalize and post) transactions in the books; construct and use a trial balance) During the first month of operations‚ Johnson Plumbing‚ Inc.‚ completed the following transactions: Mar 2 Johnson received $35‚000 cash and issued common stock to the stockholders. 3 Purchased supplies‚ $200‚ and equipment‚ $3‚200‚ on account. 4 Performed services for a client and received cash
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