IMPACT OF TECHNOLOGY ON THE ACCOUNTING PROFESSION - A STUDY OF A CPA FIRM’S DISASTER RECOVERY PLANNING Stanley X. Lewis‚ Jr.‚ Troy University Eddy J. Burks‚ Troy University Ernest W. King‚ University of Southern Mississippi Carl Smolinski‚ LSU-Shreveport ABSTRACT The results of an ongoing study of professional accounting firms in the U. S existing research methodology and results included in the 2006 IRMA International Conference reporting the strategic planning by a law firm pertaining to its disaster
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Case 1.1 – Client Acceptance Question # 1: Identify 5 procedures an auditor should perform in determining whether to accept a client. Which of these five are required by the auditing standards? a. (AU 314) The auditor should obtain an understanding of the entity and its environment in the following areas: i. Client’s application of accounting policies ii. The industry‚ regulation and other factors affecting the client iii. Client’s objectives ‚ strategies‚
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owners of Lakeside as well as the company’s bank may require that an independent CPA firm perform an annual audit because the CPA firm could have an independence issue. The CPA firm in that Lakeside wants to hire is also the auditors for Lakesides main financial bank. The bank is a “main” user of the report put out by Lakesides auditor and in this case would be that banks auditor too. The connection is too close for the CPA firm to pick up this client‚ it would be against the ethically code. 2. Abernethy
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Accounting Standards Boards Paper In recent years there has been significant changes made in our understanding of the relationship between the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB). At present both the IASB and FASB are working on a joint venture referred to as the convergence project in hopes of eliminating a variety of differences between International Financial Reporting Standards and U.S. GAAP. Another area covered in this paper besides
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CAREER GUIDANCE: ACCOUNTANCY By: CARLITO G. GABRIEL‚ JR.‚ CPA [Seven years ago‚ I was then a part of a career guidance like this. During that time I was not yet sure of what course to pursue in college. The career guidance was a great help in my decision to pursue BS – Accountancy. Maybe‚ most of you are not decided yet. Believe me this career guidance will help you. Let us thank Sir Edgar for this great opportunity. [Before we proceed‚ how many of you are planning to pursue accountancy?] Mention
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CPA Disciplinary Action In January of 1988 the AICPA introduced the Integrity and Objectivity Rule number 102. The rule states that a member shall maintain objectivity and integrity‚ shall be free of conflicts of interest‚ and shall not knowingly misrepresent the facts or subordinate his or her judgment to others (AICPA). Rule number 102 has three separate violation interpretations. The first interpretation of rule 102 states that a member that makes‚ permits‚ or directs another to make materially
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EVIDENCE We must develop the ability to apply principles of cases also to other parts of the work The case of S v Nel (mother doing washing and dagga was sold to the accused) deals with a trap and secondly with the relevance of evidence because they wanted to call the mother of the accused to testify. If you know the case‚ the case can be used as authority for other sections of the work as well – should not be restricted only to the specific section of the work. Also the case of Holtzhausen
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London SW1P 4NP United Kingdom T. +44 (0)20 7663 5441 F. +44 (0)20 7663 5442 E. tis@cimaglobal.com www.cimaglobal.com 2 Topic Gateway Series Customer profitability analysis Definition and concept Customer Profitability Analysis (CPA) is the: ‘Analysis of the revenue streams and service costs associated with specific customers or customer groups.‘ CIMA Official Terminology 2005 Kotler (1997) defines a profitable customer as: ‘A person‚ household or company that‚ over time‚
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shortly after the Second World War. This scheduling is called network analysis and is usually known as Critical Path Analysis (CPA). While Program Evaluation Review Technique (PERT) will analyze the involved tasks in completing a given project‚ especially the time needed to complete each task‚ and to identify the minimum time needed to complete the total project‚ CPA involves the careful delineation and sequencing of activities‚ determining the time necessary to complete them‚ and computing a
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Module C Legal Liability True / False Questions 1. Auditors are potentially liable for monetary damages and subject to criminal penalties for failure to perform professional services properly. True False 2. Auditors cannot be held liable to their clients for failure to detect material management fraud. True False 3. Joint and several liability is a doctrine that allows a successful plaintiff to recover the full amount of a damage award from any defendant regardless
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