INTERNAL AUDIT 1 Internal audit ‘Internal audit’ is an appraisal activity established by management for the review of accounting and internal control systems as a service to the entity. It reviews‚ monitors and make recommendations for the improvement of systems. Other activities include: Examination of financial information Review of economy‚ efficiency and effectiveness (‘value-for-money’ audits) Review of compliance with external laws and regulations Review of internal policies Review
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the circumstances and opinion expressed by an auditor‚ where he is unable to obtain sufficient audit evidence. 2. Auditors of M/s Santa Banta (P) Ltd. were changed for the accounting year 2010-11. However there was no change in the position of closing stock which remained at ` 400 lacs . The auditors of the company propose to exclude the audit of closing stock of ` 400 lacs from their audit programme on the understanding that it pertains to the preceding year which was audited by another
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sets the stage for your study of internal auditing (also known as “management auditing”). You consider the definition‚ development‚ and scope of internal auditing. You also consider the business environment and identify and analyze its accompanying risks. The various types of internal audits and the relationship between internal auditing and performance measurement are explained. Finally‚ you study the role of professional ethical standards in internal auditing and review case analysis‚ a technique
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DATE: March 6‚ 2013 SUBJECT: Goodner Brothers‚ Inc. The Goodner Brothers‚ Inc. audit case is based off the story of two men who have been friends since their childhood: Woody Robinson and Al Hunt. Now as adults‚ Mr. Hunt works for an auto supply store while Mr. Robinson works for Goodner Brothers‚ Inc.‚ a tire wholesaler in Huntington‚ West Virginia. In the Goodner case‚ internal auditors were conducting their annual inventory counts of Goodner Brothers‚ Inc. and determined that their numbers
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Giovanni Costa Corporate Strategy - Individual Assignment 7th International MBA Part Time 1 Corporate Strategy - Meli Marine case study Giovanni Costa Giovanni Costa Corporate Strategy - Individual Assignment 7th International MBA Part Time 2 1) Container shipping industry has consolidated over last years from over 100 carriers to just 15 global players accounting today for roughly 80% of volume‚ mostly concentrated in Asia-Europe and Asia-North America shipping lanes (see exhibit
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Assignment 3: Corporate Governance and Ethical Responsibility Research Paper. P223- Due Week 6 and worth 250 points Dr. DoRight has recently been hired as the President of the “Universal Human Care Hospital”‚ where he oversees all departments with over 5‚000 employees and over 20‚000 patients at the medical facility. He has been provided with a broad set of duties and oversight of numerous departments‚ including business development‚ customer services‚ human resources‚ legal‚ patient advocacy
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* Second year access audit of Newcastle International Airport the built environment module Disability studies. 1. Citizenship Citizenship has been defined by Margaret (2008‚ p.53) as a “state of being a citizen of a particular social‚ political‚ national‚ or human resource community “. The term describing all citizens as a whole is citizenry. In law‚ citizenship denotes a link between an individual and a state. Under international law‚ citizenship is synonymous to nationality‚ although the
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yer_detailpage&v=KBV-JHJcB7c&list=UUp_A9 126rB138FOGsdm90vw Types of Auditors • • • • • External auditors Internal Auditors Governmental Auditors Forensic Auditors Information Technology 2-4 Types of Audit‚ Attest‚ and Assurance Services Audit Services: Internal Control Audits‚ Compliance Audits‚ Operational Audits‚ Forensic Audits Attest Services: Reporting on nature and quantity of inventory stored in a company’s warehouse so that the company can obtain a bank loan Assurance Services: Auditing is a specialized
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1. The Future of Corporate Social Responsibility in the Philippines – What can be expected and what are the trends that would shape CSR in our country for the next ten years. Due to the slow growth of the Philippine economy‚ Corporate Social Responsibility was being implemented and practiced by the corporations. It is based on the Philanthropic stage or what we call “kawang gawa”. Philippine CSR practices are generally manifested through donations or gratuitous activities and the public views
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Assignment 3: Corporate Governance and Ethical Responsibility LEG 500 - Law‚ Ethics‚ and Corporate Governance 1. Determine at least three different internal and external stakeholders that Dr. DoRight might have to deal with on a daily basis at the hospital. Stakeholders are individuals who are involved in‚ have a vested interest in‚ or a “stake” in the success of an organization (Merriam-Webster‚ 2011)‚ such as a hospital. Dr. DoRight is an influential decision maker as the President of
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