understand their obligations. This would in particular help our front-end staff and managers having direct inter-action with the customers. KYC & AML Laws are in the evolutionary process‚ new regulations and subsequent amendments will require a regular update of our procedures and skills to remain in line with best practices followed internationally. Money Laundering is the process by which proceeds derived from a criminal activity are disguised in an effort to conceal their illicit origins and to legitimize
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Distribution Methods Manual‚ 12th ed. Tampa‚ FL: BICSI‚ 2009. Construction Specifications Institute and Construction Specifications Canada. MasterFormatTM.. Alexandria‚ VA and Toronto‚ ON: Construction Specifications Institute and Construction Specifications Canada‚ 2004. Project Management Institute. A Guide to the Project Management Body of Knowledge (PMBOK® Guide) - 4th Edition. Newtown Square‚ PA: Project Management Institute‚ 2008. Network Design Reference Manual‚ 7th edition 1-50 © 2009 BICSI®
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NATURE of AUDITING‚ ATTESTATION AND ASSURANCE SERVICES Let us understand a few terminologies before going further in the discussion of the details of auditing and assurance since these terms will be used often throughout the text. Auditing‚ attestation and assurance services are often used interchangeably because they encompass the same decision-process: defining the decision problem‚ defining the alternative choices‚ identifying and obtaining information relevant to the decision problem‚ evaluating
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FRICK FINE ARTS LIBRARY ART HISTORY: CONTEMPORARY ART Library Guide Series‚ No. 9 “Qui scit ubi scientis sit‚ ille est proximus habenti.” -- Brunetiere* This bibliography is highly selective and is meant only as a starting place to aid the beginning art history student in his/her search for library material. The list does not include materials on individual artists. The serious student will find other relevant sources by noting citations within the encyclopedias‚ books‚ journal articles‚ and
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Auditors must balance the cost of the audit with the need for precision. C. Auditors must limit their exposure to their client to maintain independence. D. The auditor’s relationship with the client is generally adversarial‚ so the auditor will not have access to all of the financial information of the company. 2. Which of the following statements best describes a relationship between sample size and other elements of auditing? A. If materiality increases‚ so will the sample size. B. If the desired
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indicating to the customer the amount owed for the sale and the due date of the payments. The original is sent to the customer and one or more copies are retained. The sales invoice is the document for recording sales in the accounting records. c. The credit memo is a document indicating a reduction in the amount due from a customer because of returned goods or an allowance granted. It often takes the same general form as a sales invoice‚ but it reduces the customer’s accounts receivable balance
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Bodies (CCAB) in the United Kingdom. These guidelines provide advice to internal auditors on the main issues and procedures which they need to consider as part of their work in both the commercial and public sectors. They should also be of benefit to organisations considering establishing an internal audit function. Internal auditors should read these guidelines in conjunction with the Approved Auditing Standards contained in the Members’ Handbook and the Institute’s By-Laws (On Professional Ethics‚
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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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CASE STUDY ON MONOPOLY Submitted By: Submitted On: 16th April 2012 INTRODUCTION Today‚ many firms are enjoying a monopoly of their products/services in the market. Monopoly may be defined as the complete control over a commodity enjoyed by a particular company in the market. There will be only a solo manufacturer or provider of the commodity and customers have to depend on them whenever there is a demand since there are no substitutes available. As a result‚ such
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A professional judgment is a key factor in auditing. As a result of development of auditing and accounting industry‚ especially after a series of accounting fraud and auditing failure cases‚ such as Enron and Arthur Andersen‚ in the last decade‚ professional judgments is becoming a more and more important aspect for the independent auditing industry. Recently‚ many countries and professional bad issued more strict auditing standards to emphasize to this point. It means the auditor should be required
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