Assignment 1 Name: Leung Hiu Ting Student no.10348622 Course : Auditing a. Outline the main reasons for a company requiring an external audit. Nowadays‚ a lot of company’s ownership and management is separated. It had major influences for auditing. Shareholders were concerned that their funds may not be used in proper ways to maximize the value of the company by appointed managers. For example‚ management may distort or withhold material information in their financial statements for personal
Premium Auditing Audit Financial audit
In addition to a number of quantitative studies in this area‚ this study wants firstly to elaborate in a complementary qualitative way how internal auditors perceive their current role in risk management within the Belgian context where internal auditing is a relatively young profession. Secondly‚ we want to investigate whether‚ under the influence of recent changes in corporate governance regulations‚ a greater financial emphasis in internal auditors’ work can be noticed. Thirdly‚ we are interested
Premium Risk management Internal control Internal audit
Computers have become such indispensable devices in the modern era that we cannot imagine life without computers. However‚ there have been different ideas on the benefits of computers. In my opinion‚ computers do more good than harm because they can make life easier and also can help our work become more systematically and productively. Firstly‚ computers give many advantages as they can make life easier. As a student‚ many works must be done by using computer such as assignment and presentation
Premium Computer Input device English-language films
spark triggered the fire. This report has been designed structurally from identifying the problem‚ the effect and subsequently discuss on the measurements to balance the order. There are lots of companies have run the electronic auditing procedures to monitor the computer use of the employees. They perceived this matter seriously because the future achievement is their priority. But is the implementation of the employee monitoring system is necessary is still under a heat debate because it deals with
Premium Computer Surveillance Privacy
ter COMPUTER Computer is one of the wonderful wonders of modern science. It is a fairly recent invention. It has become an essential part of modern life. It has made our way of life easy and comfortable. We cannot do anything today without a computer. A computer is basically a processor of information. Any device that helps people perform mathematical calculation may be called a computer. A computer performs three functions. Firstly it receives data‚ secondly it process
Premium Computer
Example auditing case 1)” Based on the information given in this case and your knowledge of auditor’s reports‚ identify the deficiencies in the draft of the proposed report. Do not redraft the report‚ but provide justification or explanation for each of the deficiencies you identify” (Pany‚ Auditor’s Report‚ 2010). A. In the Introduction paragraph it states “As discussed in Note K to the financial statements‚ the Company has properly disclosed a subsequent event dated March 14‚ 20x9” (Pany‚ Auditor’s
Premium Auditor's report Auditing Audit
last term’s work 2 Description of a computer and the monitor. 3 Features of a computer 4 Importance of a computer as a tool for processing data 5 The System Unit 6 The keyboard and its sections 7 Word Processing 8 Data Processing 9 Stages of Data Processing 10 Information Evolution 11 Revision 12 Examination JS 2 WKS TOPICS 1 ICT as a transformation tool 2 Benefits and disadvantages of ICT 3 ICT Gadgets 4 Computer Programming language 5 Computer Programming Language 6 BASIC Programming
Premium Binary numeral system Computer Decimal
believe that computers are more a hindrance than a help in todays’s world. Others feel that they are such indispensable tools that they would not be able to live or work without them. - In what ways are computers a hindrance - What is your opinion? Nowadays we can see computers increase their popularity; however‚ using computer too much may lead to negative results. Some people believe that computers have more adverse effects than their helps while others comment that computers are necessary
Premium Computer Computer software Personal computer
balances are appropriately disclosed. Therefore of the 5 assertions and audit objectives listed above the 3 assertions applicable to direct test of cash balances are Existence‚ Completeness and Valuation. b) List 4 audit procedures to use in auditing cash. (4 marks) SOLUTION: Because of the large volume of transactions and the small account balance‚ the audit strategy is invariably to concentrate on verifying the account balance rather than the transactions. Moreover‚ because of the significance
Premium Auditing Audit Financial audit
1.26 Value of auditing Required: Would you obtain an audit for this company? Explain the reasons for your decision. Yes‚ audits exist because of regulatory mandate (required by government). There are three theories which propose reasons why demand for audits might exist without regulatory mandate: 1. Agency theory (The focus of the agency demand for auditing is more related to the stewardship role of accounting- which is more an examination of what has happened.) The separation of ownership
Premium Audit Auditing External auditor