[pic] ACCTG 312 SC 2012: Assignment 1 Current issues – scandals in auditing Introduction • For this assignment‚ you are required to research and report back on one of four well known scandals that involve auditors in some way. • It can be commenced after week 1 lectures are completed‚ so gives you a chance to get part of your semester’s work done early. It is due in week 3 (Thursday at 4 pm). • You will also be required to very briefly report to your tutorial group on one interesting
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References: AICPA. (2012‚ August 13). Generally Accepted Auditing Standards. Retrieved October 28‚ 2012‚ from AICPA.org: http://www.aicpa.org/Research/Standards/AuditAttest/DownloadableDocuments/AU-00150.pdf Knapp‚ M. (2010). Contemporary Auditing: Real Issues and Cases. Mason: Cengage Learning.
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would you have responded when Don-Allen Ruttenberg asked you to send a false confirmation to Deloitte & Touche? Before responding‚ identify the parties who will be affected by your decision. Based on Case Study1.2 Just for Feet‚ Inc. Contemporary Auditing Real Issues and Cases 7th ed. Michael
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Additional Cases for the Course The case readings have been developed solely as a basis for class discussion. The case readings are not intended to serve as a source of primary data or as an illustration of effective or ineffective auditing. Reprinted by permission from Jay C. Thibodeau and Deborah Freier. Copyright © Jay C. Thibodeau and Deborah Freier; all rights reserved. 1••• ( Case 61 ® Enron Enrori’s First Few Years hi~ 1985 Enron had assets along the three major stages of the supply
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challenges of auditing firms to remain unbiased and independent of their clients. Secondary data was used to review the existing literature on the subject. Descriptive method was used to present the changes that occurred in the historical development of auditing. It traces the evolution of audit into a field of fraud detection and financial accountability to the advent of Industrial Revolution of 1750 to 1850 and states that as business increased in complexity‚ risk-based auditing makes auditing more efficient
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merit in recent reforms such as the Sarbanes-Oxley Act of 2002 in the US. However‚ we do not know from research the optimal level of audit quality and therefore whether we currently have ‘too little’ or ‘too much’ auditing? Despite this lacuna we are entering an era of more mandated auditing in response to high-profile corporate governance failures including the Enron–Andersen affair. Finally‚ while recent reforms have scaled back the scope of non-audit services due to independence concerns‚ a case can
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ibility-survey-2008.pdf Metcash Limited Moir‚ L. (2001). What do we mean by Corporate Social Responsibility? Corporate Governance: The International Journal of Effective Board Performance‚ 16-22. Moroney‚ R.‚ Campbell‚ F.‚ & Hamilton‚ J. (2011). Auditing A Practical Approach. Milton: John Wiley & Sons Australia‚ Ltd. Myer Holdings Limited. (2011). 2011 Annual Report. Retrieved from http://media.corporate-ir.net/media_files/IROL/23/231681/Myer_Holdings_Limited_2011_Annual_Report_to_Shareholders.pdf
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decisions and action in the sunshine” (Cite auditing textbook). Question #2 Did Saks’ anti-harassment policy and the related complaint procedure qualify as internal controls? Explain. The Committee of Sponsoring Organizations (COSO)‚ consisting of many accounting regulation bodies‚ issued a report defining internal control as: “Internal control is a process‚ effected by an entity’s
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Managerial Auditing Journal Emerald Article: Agency Theory and the Internal Audit Michael B. Adams Article information: To cite this document: Michael B. Adams‚ (1994)‚"Agency Theory and the Internal Audit"‚ Managerial Auditing Journal‚ Vol. 9 Iss: 8 pp. 8 - 12 Permanent link to this document: http://dx.doi.org/10.1108/02686909410071133 Downloaded on: 27-05-2012 Citations: This document has been cited by 4 other documents To copy this document: permissions@emeraldinsight.com This document
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audit is not new in Hong Kong. It starts in multi-national oil and local power supply companies. Starting from 1996‚ safety audit has been employed in some selected Government construction projects; independent safety auditors are employed in the auditing exercises. The current number of qualified safety auditors in Hong Kong is very limited and they are mainly undertaking safety audits for construction contractors. The proposed Factories and Industrial Undertakings (Safety Management) Regulations
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