Agency Problems‚ Auditing‚ and the Theory of the Firm: Some Evidence Author(s): Ross L. Watts and Jerold L. Zimmerman Source: Journal of Law and Economics‚ Vol. 26‚ No. 3‚ (Oct.‚ 1983)‚ pp. 613-633 Published by: The University of Chicago Press Stable URL: http://www.jstor.org/stable/725039 Accessed: 29/06/2008 23:14 Your use of the JSTOR archive indicates your acceptance of JSTOR ’s Terms and Conditions of Use‚ available at http://www.jstor.org/page/info/about/policies/terms.jsp. JSTOR ’s Terms and
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Introduction To AuditING and Window Dressing INDEX Sr.no | Topic | 1. | Introduction | 2. | Origin ‚ Definition | 3. | Objectives | 4. | Principles | 5. | Errors and Frauds | 6. | Window Dressing | 7. | Case Study | 8. | Conclusion | OBJECTIVES OF AUDITING The main object of the audit is to find out whether the accounts of a particular concern show a true and fair view of the earnings and financial state of affairs.This is possible
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officers. For this reason‚ auditing and assurance services must sign-off or attest to the credibility and reliability of written assertions. Creditors rely on the accuracy of financial reports when calculating the risk and interest rate of loans. Investors and employees need reliable information when allocating their precious resources. Governmental agencies require transparency and compliance to insure the public is not being victimized by fraud. Do increased auditing requirements guarantee that
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Auditing Exam 1 Review Ch 1 Nature of Auditing: * Auditing is the accumulation and evaluation of evidence about information to determine and report on the degree of correspondence b/w the information and established criteria. * Auditing should be done by a competent‚ independent person. Information and Established Criteria: * To do an audit‚ there must be information in a verifiable form and some standards (criteria) by which the auditor can evaluate the information. Accumulating
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Auditing 300 Semester 1‚ 2012 Assessment one: Individual report Ethical issues in auditing Executive Summary This report provides an analysis of dealing with professional and ethical issues when offering auditing services. It gives a brief decision-making process model by first identifying the key issues and relevant standards involved in the case and then combining theories with reality and giving a short conclusion and some recommendations at the end. 1.0 Introduction Ethical
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CHAPTER 1 AUDITING AND THE PUBLIC ACCOUNTING PROFESSION – INTEGRITY OF FINANCIAL REPORTING |LEARNING CHECK | 1. SEVERAL COMMON ATTRIBUTES OF ACTIVITIES DEFINED AS AUDITING ARE (A) SYSTEMATIC PROCESS‚ (B) OBJECTIVELY OBTAINING AND EVALUATING EVIDENCE‚ (C) ASSERTIONS ABOUT ECONOMIC ACTIONS AND EVENTS‚ (D) DEGREE OF CORRESPONDENCE‚ (E) ESTABLISHED CRITERIA‚ (F) COMMUNICATING THE RESULTS‚ AND (G) INTERESTED USERS. 2. A financial statement audit involves obtaining
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similar recognition was first carried by the companies Act 1968‚ and currently by the Companies and Allied Matters Decree 1990. Olusanya (2000)‚ said that auditing‚ as it exists today‚ developed quite late because the development of accounting of accounting was slow as compared to economic theory. The eventual development of auditing was based on a strong determination to conquer problems associated with early beginning of business
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CHAPTER 1 AN INTRODUCTION TO ASSURANCE AND FINANCIAL STATEMENT AUDITING Answers to Review Questions 1-1 The study of auditing is more conceptual in nature compared to other accounting courses. Rather than focusing on learning the rules‚ techniques‚ and computations required to prepare financial statements‚ auditing emphasizes learning a framework of analytical and logical skills to evaluate the relevance and reliability of the systems and processes responsible for financial information‚
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[pic]Accounting 408 Test 2 Review 1. An auditor obtains knowledge about a new client ’s business and its industry to a. Make constructive suggestions concerning improvements in the client ’s internal control structure. b. Develop an attitude of professional skepticism concerning management ’s financial statement assertions. c. Evaluate whether the aggregation of known misstatements causes the financial statements taken as a whole to be materially misstated
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ACG 4632 Introduction to Financial Statement Auditing Spring 2015 Section 422 Instructor: Devin Williams‚ CPA 1-1 Chapter 1 An Introduction to Assurance and Financial Statement Auditing Copyright © 2014 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. LO# 1 The Study of Auditing The study of auditing is different from other accounting courses that you have taken in college because … OTHER COURSES Rules
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