According to attribute standard 1100‚ the internal audit activity must be independent and internal auditors must be objective in performing their work. Independence is the “freedom from conditions that threaten the ability of the internal audit activity or the chief audit executive (CAE) to carry out internal audit responsibilities in an unbiased manner.” Objectivity is “an unbiased mental attitude that allows internal auditors to perform engagements in such a manner that they believe in their work
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Chapter 6 Tax matters 1、 Why have tax? The Collins Concise English Dictionary (1992. P 1383) defines the word “tax” as: “a compulsory financial contribution imposed by a government to raise revenue‚ levied on income or property‚ on the prices of goods and services‚ etc. and to levy a tax on (persons‚ companies‚ etc.)” (Clinton Alley‚ 2008). there are several reasons can explain the existence of tax: The main function of taxation is the fiscal one. It is through fiscality that taxes play their
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What role did the accounting profession play in the recent subprime mortgage crisis? What could they have done differently? An independent auditor has a duty is to: identify‚ measure‚ and communicate financial information about an entity for decision making purposes. They are also responsible for generating the financial statements/reports for an organization. (Marshall‚ McManus‚ Viele‚ 2008) The subprime mortgage crisis is the result of contract laws allowing lenders the securitization of subprime
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October 2013 How to Retain Pulchritude While Lost in the Woods Many people panic when they realize they are lost and focus solely on survival‚ forgetting the importance of their appearance. They emerge from the solitude of the wilderness alive but completely disheveled‚ bearing no regard to their unkempt hair or dirty and tattered clothing. If you are going to get lost‚ you need to remember that looking good is the top priority so that when you are found you look like a professional model in your picture
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resources and efficient service delivery. An open and orderly PFM system is one of the enabling elements for those three levels of budgetary outcomes: • Effective controls of the budget totals and management of fiscal risks contribute to maintain aggregate fiscal discipline. • Planning and executing the budget in line with government priorities contributes to implementation of government’s objectives. • Managing the use of budgeted resources contributes to efficient service delivery and value
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Indirect tax Section 1 This section is about applying your knowledge of VAT and using reference material to make recommendations or decisions. Task 1.1 (a) You have the following information about the taxable supplies of 4 businesses. For each of them‚ indicate whether they need to register for VAT immediately‚ or monitor turnover and register later. Tick ONE box on EACH line. Register now Monitor and register later A A new business with an expected turnover of £6000 per
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important component of the financial planning process is tax planning‚ which is the structuring of transactions with the intent reducing tax costs and gaining tax benefits. Strategic tax planning is a common occurrence in the business world because of its ability to help companies maximize their after-tax value. Typically‚ firms use the services of outside specialists‚ also known as tax researchers‚ in tax planning. The role of the tax specialist is to determine the optimal business decisions
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a) Company: What are the company’s goals and what measures will be used to determine if they are on track? Allround Brands has its sights set on achieving goals of increasing long-term profitability and market share in a volatile healthcare environment. If successful‚ it will reach the highest of its goals‚ which is delivering a solid return for its investors. The company has charged the marketing team with this task and will track progress through measurements of key marketing data such as brand
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like everything else. The importance of physical strength in solving heavy tasks or defending external attack has made the men’s dominance in society over years. Today‚ women are most likely equal to men‚ and in mostly every field‚ they can do whatever men can do. The world has witnessed many heroic actions from women in the past world wars‚ but when it comes to the U.S. Congress‚ women are not allowed to join military combat units. Although there are many women who have enough ability to handle and
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The Declaration of Independence “We hold these truths to be self-evident‚ that all men are created equal‚ that they are endowed by their Creator with certain unalienable Rights‚ that among these are Life‚ Liberty and the pursuit of Happiness.-That to secure these rights‚ Governments are instituted among Men‚ deriving their just powers from the consent of the governed‚- That whenever any Form of Government becomes destructive of these ends‚ it is the Right of the People to alter or abolish it‚ and
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