Based on - Auditing & Assurance Services: A Systematic Approach (7th edition) EXAM CHAPTERS: 1‚ 2‚ 7‚ 18‚ 19‚ 20 and 21 EXAM REQUIREMENTS: - Closed-book exam (no text‚ notes‚ etc.) - Limited to 90 minutes - Pencils and erasers (no calculator required) EXAM POINT DISTRIBUTION: Total Points 150 (50 Multiple-Choice questions) By Chapter: Chapter 1 = 15 points Chapter 2 = 21 points Chapter 7 = 6 points Chapters 18‚ 19‚ 20 and 21 = 27 points each EXAM STUDY APPROACH:
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Individual Text Assignment Chapters 5‚ 6‚ and 7 Karen L. Spencer ACC/491 Contemporary Auditing I December 3‚ 2012 Kimberly Jordan‚ MBA Individual Text Assignment Chapters 5‚ 6‚ and 7 Chapter 5 Comprehensive Question 5-30 (Assertions) In planning the audit of a client’s financial statements‚ an auditor identified the following issues that need attention. Required Identify the assertion for items 1 through 11. 1. The allowance for doubtful accounts is fairly presented in amount
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audit? The reason that there needs to be an independent auditor is so that they can remain unbiased. It could potentially make them less independent if they are auditing both Lakeside and the bank in which Lakeside is taking loans from. The auditing firm needs to stay independent in mind and appearance and this may be an issue when auditing both. 2. This case implies that no auditor with the firm of Abernethy and Chapman has an in-depth understanding of the consumer electronics industry. Is a CPA
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Evaluate the auditors’ current responsibility to detect corporate fraud. What factors should be of consideration when deciding on the appropriate level? Prepared for Professor Brenda Porter Course Co-ordinator‚ BEA 2004 Auditing Author Ho Jian Hong‚ Shawn BA (Hons) Accounting and Finance University of Exeter Tutor Dr Amama Shaukat Tutorial (Wednesday 11am) Date 1st May 2011 EXECUTIVE SUMMARY Corporate fraud is a problem within society that has been on an upward trend over
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Less Time! 100% Satisfaction Guarantee DESCRIPTION FOR THIS STUDY GUIDE: TUTORIAL: This tutorial includes 6 pages of solutions. A+++ WORK! Resources: Ch. 6 & 7 of Modern Auditing: Assurance Services and the Integrity of Financial Reporting Prepare written answers to the following assignments from the text Modern Auditing: Assurance Services and the Integrity of Financial Reporting: Ch. 6: Comprehensive Question 6-26 – Audit Programs and Assertions Ch. 7: Case 7-25 – New Client Acceptance‚ Part
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particularly relating to risk and risk assessment. REQUIRED Critically evaluate this statement and consider whether in your view‚ the current risk based approach to auditing should be amended and if so‚ what model should be adopted. (NOTE: YOU DO NOT HAVE TO RESTRICT YOUR RESEARCH TO THE UK). TOPIC 2 External auditing has changed to
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SELECTED ECONOMIC ISSUES No. 10 2005 State Audit: An Instrument for Accountability and Good Economic Governance Page 2 Copyright © CEPA 2005 Centre For Policy Analysis No. 11 Amilcar Cabral Road Airport Residential Area Accra Mailing Address: P. O. Box 19010 Accra – North Ghana Tel: [233-21] 778035/779364-5 Fax: [233-21] 773670 ISSN: 0855-7144 ISBN: 9988-8007-9-7 The Centre for Policy Analysis is an independent‚ non-governmental think-tank‚ which provides rigorous analysis and
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of internal auditing which is to assist management to maximizing the opportunities and to minimizing the threats to the organization. Internal auditing must maximize the assurance provided to the board‚ the audit committee and the management‚ and contribute to the continuous improvement strategies for the organization. So‚ how to maintain good internal auditing function within the organization? Outsourcing of internal audit function is one of the solutions. So‚ what is internal auditing? What is outsourcing
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individual auditor‚ engagement‚ functional‚ and organizational levels. In order to achieve independence the CAE must be able to communicate directly with the board. Independence and objectivity are critical to the profession of internal auditing. Internal auditing is intended to add value and improve operations. It helps businesses achieve objectives by evaluating risk management‚ control‚ and governance processes. In order for the internal auditor to be able to add this value it is critical that
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CHAPTER 1 The Role of the Public Accountant in the American Economy Review Questions 1-1 The “crisis of credibility” largely arose from the number of companies that restated their previously issued financial statements as a result of accounting irregularities and fraud. Especially responsible were the very visible Enron and WorldCom fraud cases. Both companies filed for bankruptcy and constituted the largest companies in American history to do so. The extent of the accounting irregularities
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