Alternative Investments Among the five funds‚ three of the funds‚ Cloudy Retirement 500 Index‚ Cloudy High-Yield Hedge Strategies‚ and Cloudy Real Estate All starts‚ are alternative investments. Those three funds‚ as the case states‚ are not registered under the Investment Company Act of 1940 or under the Securities Act of 1933. Thus‚ they are not offered to the investing public or are not been required to offer significant information to public. Moreover‚ the investment product held by Cloudy High-Yield
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Notes on Apollo Shoes Audit Case Task #1 (Overview/Intro) Go to the “Weekly Materials” folder and locate the “Apollo Shoes Files” folder‚ between the week 1 and week 2 folders. Under this menu you will find a file entitled Apollo Shoes Case Study.doc. This file gives you all of the details and evidence that you will need for the case. We will only be completing specified sections of this case as discussed below. Review the table of contents in the case document (page 4.) This will tell you
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PRACTICE CASE A Computerized Audit Practice Case Description of the Practice Case This case has two learning objectives. First‚ it provides the student an opportunity to apply auditing concepts to a “real-life” audit client. The client‚ Biltrite Bicycles‚ Inc.‚ operates within a unique business climate and internal control environment‚ and the student must assess inherent risk and control risk accordingly. The case contains modules involving sampling applications‚ risk assessment‚ audit documentation
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Topic: Evolution of a fortune 500 company & link the concept covered in theme 1 & 2 with the management evolution of the selected company Fortune 500 Rank 15 - General Motors “A car for every purse and purpose" – Alfred P Sloan Jr‚ Former President & CEO General Motors. General Motors‚ one of the world’s largest automakers‚ traces its roots back to 1908. With its global headquarters in Detroit‚ GM employs 205‚000 people in every major region of the world and does business in some 157
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Audit exam 1 Study online at quizlet.com/_flu67 1. A Which is usually included in an engagement letter? (A reference to GAAP/A reference to GAAS) A. Yes/Yes B. No/No C. Yes/No D. No/Yes 2. A Which of the following statements is true? A) Auditors have generally found that the most effective and efficient way to conduct an audit is to obtain some assurance for each class of transaction and for the ending balance of the related account. B) Management ’s assertions follow and
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AUDIT PLANNING Audit planning procedures are the first and perhaps the most important step in carrying out a successful audit. Without adequate planning‚ the likelihood of missing a significant risk area or encountering engagement-related problems increases considerably. As baseball great and noted philosopher‚ Yogi Berra puts it‚ “If you don’t plan on where you are going‚ you could end up someplace different!” All too often the auditor does not give adequate attention to audit planning for a vast
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Comprehensive Case 1.1 Enron 1. There were several parties responsible for the "crisis of confidence" created by the Enron debacle. Enron’s executives were responsible for their behavior in trying to adjust their financial statements. Andersen’s auditors were responsible for not doing their jobs with integrity and not keeping their independence in from Enron. Regulatory groups were responsible for making
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Sam Li Case: Jamaica Water Properties 1. Place yourself in David Sokol’s position. After discovering the suspicious items in JWP’s accounting records‚ would you have taken a different course of action than he did? Why or why not? I doubt if I can reach the position that David Sokol had in my career’s life. However‚ let say that if I was in David Sokol’s position‚ I would probably do the same thing David had done. I believe the proper working ethics are accountability‚ professionalism and
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Audit Evidence This chapter deals with the types of evidence decisions auditors make‚ the evidence available to auditors‚ and the use of that evidence in performing audits. NATURE OF EVIDENCE • Evidence is any information used by the auditor to determine whether the information being audited is stated in accordance with the established criteria. • Evidence includes information that is highly persuasive‚ such as the auditor ’s count of marketable securities‚ and less persuasive information
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product design has its maturity period. It means to say that consumer product demand vary time to time. For instance‚ people were demanding simple refrigerator in their kitchen. Research has proved that women spend most of their time in kitchen. In this case they escaped from television program‚ news‚ reality show‚ so and so forth. Now people are demanding a refrigerator that can best fulfill cooling with television and music system features. In this situation a company’s structured product design decision
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