Case Projects 5-3 and 5-5 Tanya Boone Unit 2 Project CJ 317-01 Case Project 5-3 Under the silver platter doctrine‚ evidence obtained by state agents in an unreasonable search and seizure was admissible in a federal criminal trial‚ where no federal agent participated in a search and seizure and the state officers did not act solely on behalf of the United States (Hills‚ 1999). Simply put‚ federal officers cannot allow state police to do the dirty work‚ and then claim that they did not violate
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Is the demand for auditing a regulatory artifact or market driven? Pre SEC era: There is evidence that before legislation on auditing existed there were still forms of auditing. In the medieval times there were the guilds‚ later audits were conducted by directors or shareholders of a company. In the 19th century US companies voluntarily contracted for audits. Current data on non-SEC companies In 1977‚ 80% of corporate audit clients of PwC are non-SEC-registrants (Biegler 1977). Privately owned
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Chapter 1 - Multiple Choice Questions 1. Why do auditors generally use a sampling approach to evidence gathering? A. Auditors are experts and do not need to look at much to know whether the financial statements are correct or not. B. 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
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Case 11.1: The Runners Shop Relevant Guidance • AU 339 (SAS 103): Audit Documentation • Auditing Standard No. 3: Audit Documentation • International Standard on Auditing 230’ (Revised) (Site -http://irba.co.za/documents/doc_00535.pdf ) Questions 1] Describe the purposes of audit documentation and explain why each purpose is important. According to AU 339.03‚ “audit documentation provides the principal support for the”: (a) “representation in the auditor’s report
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201037076 Puriza U. Topic: Using technology to improve internal audit communications in the Banking Sector Background Internal auditing has come a long way over the last two or three decades. In the past‚ internal auditing was seen as a mechanism to double-check the thousands of financial transactions that were posted to the accounts each week. Today an internal auditor facilitates the development of suitable controls as part of a wider risk strategy‚ and provides assurances on the reliability
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Anonymous Caller Case Study 1 a) What would you recommend to the caller if you were Dr. Mitchell? Since it appears that the firms top executives are all apart of the fraud and don’t plan on correcting their unethical action. I recommend that the anonymous caller completely remove himself/herself from the situation by resigning or by reporting the situation to the firm’s board of directors or a governmental agency. b) What are the risks of continuing to work with the company? There
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explain how an auditor goes about the process of auditing financial statements and presents the five basic stages that the auditor performed during the financial statement audit at Maryward Primary School in Kwekwe for the year ending 31 December 2012. In order to be in a position to fulfil auditing responsibility to report on the client’s annual financial statements‚ the auditor followed a series of procedures and activities as required by the auditing profession. The auditor applied the following
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eBusiness Revenue Recognition‚ lnformstion Privocy‚ ond Eledronic Evidence lssues -’u ’-:; s. Brasr‚nv’FnaNrA. Bucruess . srsvsx M. Gr‚ovnn.Doucr‚as F. pnawrrr [.EARNING OBJECTIVES .*-::: :ompleting and discussing this case you should be able to [5] Recognize issues surrounding the privacy of customer information [6] Describe audit implications when transaction evidence is solely electronic [7] Recognize threats to eBusiness strategies‚ which rely solely on the delivery of services
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Campbell Soup Company 1. Identify legitimate business practices that corporate executives can use for the primary purpose of manipulating or “managing” their company’s reported operating results. Are such practices ethical? Defend your answer. Some examples of legitimate business practices that executives can use to manage their company’s reported operating results include: offering customers extended payment terms at the end of the a period to accelerate sales‚ recording generous reserves
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AUDITING – ACC5604 – SEMESTER 1‚ 2014 SEMINAR 2 - PROBLEM QUESTIONS PROBLEM 2.1 Your text identifies three of the early approaches to auditing‚ namely the Balance Sheet‚ Transaction Cycle and Financial Risk Analysis approach. Required: (a) Provide a brief description of each approach. (b) Define the term “Transaction Cycle” and provide two examples of common transaction cycles‚ together with the account balances arising from the identified cycles. (c) If an auditor adopts
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