[pic] Bachelor’s Thesis Faculteit der Economische Wetenschappen Sectie: Accounting‚ Auditing and Control Studie: Bedrijfseconomie Budgets Is the use of budgets out of date? S.A.D. Sardjoe 298142ss July 12‚ 2009 Table of contents Chapter 1 Introduction 2 1.1 Purpose 2 1.2 Method 2 1.3 Scope 2 1.4 Outline 3 Chapter 2 Budgets 4 2.1 Definition of budgets 4 2.2 The use of budgets
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Theresa Golding BA 418 – Auditing Dr. Charles Pineno April 25‚ 2010 PART 1: “Small Firms May Face Audit Music” (published in The Wall Street Journal on April 19‚ 2007) addresses the ending of the delay in applying portions of the Sarbanes-Oxley Act of 2002 to smaller companies. At the time of the article‚ some 6‚000 smaller public companies had yet to be required to “make an annual assessment of their internal financial-reporting controls with further review by the company’s outside auditor of
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Benchmarking/best practices: Assurance service Evaluation of investment management policies: Assurance service Information systems security reviews: Assurance service Productivity statistics: Assurance service Internal audit strategic review: Assurance service Financial statements submitted to a bank loan officer: Audit service 1.48 Controller as Auditor When Hughes Corporation hired the CPA‚ she or he can no longer be considered independent with respect to the annual
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1. An audit charter should: A. be dynamic and change often to coincide with the changing nature of technology and the audit profession. B. clearly state audit objectives for‚ and the delegation of‚ authority to the maintenance and review of internal controls. C. document the audit procedures designed to achieve the planned audit objectives. D. Outline the overall authority‚ scope and responsibilities of the audit function. Answer:_____D______________________ 2. Which of the following
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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
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YORK UNIVERSITY FACULTY OF LIBERAL ARTS AND PROFESSIONAL STUDIES School of Administrative Studies PART B: AP/ADMS 4551 Auditing and Other Assurance Services Midterm Examination‚ February 21‚ 2010 9:30 a.m.-11:30 a.m. Part B will be distributed 70 minutes from the start of the exam. A YorkCard or acceptable photo identification is required as your identification for this examination. If you do not have identification documents‚ you will be required to personally bring these to your instructor
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International Accounting – Chapter 1 1. Explain why an individual investor might want to invest in an international growth fund. An individual investor might want to invest in an international growth fund if they are seeking to become more diversified. During times when the US stock market is poorly performing‚ it is likely that its foreign counterparts will be doing well because the two markets often have an inverse relationship. An investor might also want to invest in an international growth
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Chapter 5 18. a. They should use the resistance of meeting auditing standards and contributory neglegence. Stuart Supply Company management is responsible for the fraud. The fraud was complicated and difficult to discover‚ but the steps recommended by Lauren Yost & Co made it possible. The president of Stuart Supply Company ignored the proposal to count the inventory on the same day‚ and was therefore responsible to breakdown of detecting the fraud due to his decision. Luckily‚ Lauren Yost & Co
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evaluate the effectiveness of accounting system‚ business methods for detection for fraud and planning and conduct of an audit process as well as purpose and content of a statutory audit report of Tesco Supermarket. Past failures in the process of auditing financial
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Hoang Thi Thanh Ha – 13200154 Auditing Assignment 2: 1.What are the factors to consider Inherent Risk? Inherent risk is a measure of the auditor’s assessment of the likelihood that there are material misstatements in a segment before considering the effectiveness of internal control. Factors affecting assessment of inherent risk include: Nature of the client’s business : Industry practices Non-routine transactions Makeup of the population Audit experience : Results of previous audits Initial vs
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