CONTROLS IN AN EDP ENVIRONMENT The second standard of field work requires that we obtain a sufficient understanding of the client’s internal controls (I/C) to plan the audit and assess control risk. We hope that our assessment of control risk shows it to be low so that we can reduce substantive testing‚ thereby reducing audit costs. When EDP is used in significant accounting applications‚ then you must consider the effects the computer has when evaluating the internal controls. The auditor’s
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Question 1 (i) The government is considering two alternative policies‚ one involving increased government expenditure of $50 billion and the other involving a tax cut of $50 billion. Which policy is likely to increase planned aggregate expenditure by more? Explain. Use the AE model to illustrate your answer. (ii) Explain the effect of a cut in the tax rate on an economy’s planned AE. Is the effect different from a cut in the exogenous component of taxation? See Bernanke Section 6.1
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specilSpecialised audit services SECTION 2: SPECIALISED AUDIT SERVICES 2003-04 This section of the report includes information on audits conducted over and above the regularity audits. These include the following: • Forensic audits • Performance audits • Integrated audits • Performance information reviews For an explanation of each type of audit‚ please refer to my 2003-04 Activity Report. It is important to highlight that some of the forensic and performance audits result in a report to management
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AUDIT QUALITY A BRIEF DISCUSSION REGARDING THE QUALITY OF ASSURANCE AND AUDIT Student ID: 1204335 Xiaoyu ZHENG AUDIT QUALITY A BR IEF D ISC US SI ON R EGAR D IN G THE QUAL IT Y OF A S SUR A N CE AN D A UD IT A INTRODUCTION uditing has inevitably become one of the essential activities in the current business world. It may be attributable to the fact that financial reports still remain the major criteria in evaluating the performance of the business. Audit quality refers to different
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Accounting Horizons Vol. 21‚ No. 2 June 2007 pp. 165–187 Auditor Communications with the Audit Committee and the Board of Directors: Policy Recommendations and Opportunities for Future Research Jeffrey Cohen‚ Lisa Milici Gaynor‚ Ganesh Krishnamoorthy‚ and Arnold M. Wright SYNOPSIS: To contribute to the Public Company Accounting Oversight Board (PCAOB) project on auditor communications with audit committees and boards of directors‚ we present in this paper a review of relevant academic literature
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Explanation of what a marketing audit is: The purpose of a marketing audit is to review and appraise existing marketing activities and to look at the way the marketing is planned and managed‚ giving the opportunity for a systematic examination of each element of the organisations current marketing activity and achievements‚ and to objectively evaluate the effectiveness of the organisations investment in marketing. The marketing audit assists in the evaluation of the whole marketing activity‚ and
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2318 Information System Audit Outline: 1) Introduction to IT audit‚ purpose Types of IT audits‚ history of IT audit‚ major events that have prompted the use of and been solved using IT audit techniques. IT Audit process outline; process and phases. Planning the audit‚ materiality‚ risk assessment. 2) Effective information system audit. Evaluation of controls‚ types and tests of controls. Audit sampling‚ sampling methods‚ sample evaluation. 3) Audit automation and system
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Assignment #1 Evidence: CRJS355 Real/ Physical Evidence Real or physical evidence is evidence that can be addressed to the court directly without any interposing of a testimony of witness other than what is required of the basis for such evidence. Real evidence and physical evidence is basically the same thing physical evidence is just object that has been involved in the actual crime scene or took place and played some type of part in it. But when it comes to real evidence it basically
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Independent Auditor ’s Report To the Stockholders Apollo Shoes‚ Inc. 1235 Winner ’s Road Write City‚ IN 12354 LCC has conducted an audit of Apollo Shoes‚ Inc. balance sheets‚ the retained earnings‚ cash flows‚ and other related statements of income for the year ended December 31‚ 2006/2007. Apollo Shoes Inc management is responsible for maintaining the effective internal controls that goes along with the financial statements and how well the accuracy is going to be. LLC has evaluated the
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LESSON 3: MOLAR VOLUME QUESTIONS 1. Calculate the density of the least dense gas‚ hydrogen‚ at 25⁰C and 101.3kPa. [0.083g/L] 2. Calculate the density of the densest gas‚ uranium (VI) fluoride (UF6) at 70⁰C and 25.0kPa. [3.09 g/L] 3. An unknown monoatomic gas X has a density of 5.37g/L at 25⁰C and 101.3kPa. Calculate the molar mass of the gas and determine its identity. [ 131.028g/mol; Xe] 4. Calculate the density of ammonia gas in grams per litre at 18⁰C and 100.4kPa. [0.706g/L] SCH3U0 Gases
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