* Subject Synopsis This course introduces the elements of auditing. It discusses the principles and procedures of auditing‚ types of audits‚ scope and objectives of auditing. It also covers professional ethics in auditing‚ audit evidences‚ audit planning and various other aspects of auditing. Moreover it gives knowledge about objectives of doing audit. The course also aims to explain the liability and responsibility of the auditor and how the computerised environment effects the business environment
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Internal Audit Report for ABC Company Abstract The purpose of this report is to notify the accounting department about an accounting error that was discovered in a recent audit. Because of a weak internal control system‚ an adjusting entry for prepaid insurance was not recorded for the first three months in the amount of $500 per month. This report will identify three limitations of the internal control system‚ it will identify and explain two examples of internal control procedures‚ find symptoms
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The Demand for Audit and Other Assurance Services O ssu a S s Chapter 1 ©2012 Prentice Hall Business Publishing‚ Auditing 14/e‚ Arens/Elder/Beasley Arens/Elder/Beasley 1-1 SarbanesSarbanes-Oxley Act Enron WorldCom The Act established the Public Company Accounting Oversight Board. It also requires auditors to report on the effectiveness of internal control over financial reporting. ©2012 Prentice Hall Business Publishing‚ Auditing 14/e‚ Arens/Elder/Beasley Arens/Elder/Beasley 1-2
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which exceeds materiality of $50‚000. c. The auditor should either propose an audit adjustment so that the unadjusted statement amount is less than materiality‚ and/or perform more testing to obtain a better estimate of the population misstatements. The additional testing will likely focus on receivables and inventory because they have the largest estimated misstatements. 9-28 a. The following terms are audit planning decisions requiring professional judgment: Preliminary judgment about materiality
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456 Chapter Eleven Appendix 11B Illustrative Audit Case: Keystone Computers & Networks‚ Inc. Part III: Substantive Tests—Accounts Receivable and Revenue This part of the audit case illustrates the manner in which the auditors design substantive tests of balances. The substantive tests are illustrated for two accounts—receivables and revenue. This aspect of the audit is illustrated with the following audit documentation: • ABC’s risk assessment working paper that combines the auditors’ assessments
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Background KFC Corporation Kentucky Fried Chicken was founded by Harland Sanders in Corbin‚ Kentucky. Harland Sanders was born on a small farm in Henryville‚ Indiana‚ America‚ in 1890. Sanders loved to cook and to invent a new recipe. One day he tested to mix eleven herbs and spices with wheat flour until he got success and he had a secret recipe for cooking chicken. Sanders opened the first facility with a 142-seat restaurant‚ a motel‚ a gas station. During the 1930s an image that would became
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Non-Audit Services and Knowledge Spillovers: An Investigation of the Audit Report Lag Angela Walker and David Hay1 University of Auckland Acknowledgements: We gratefully acknowledge helpful comments by Robert Knechel‚ Yi-Hsing Liao‚ and participants at the International Symposium on Audit Research in Maastricht and the Australian National Centre for Audit and Assurance Research workshop at Australian National University. This research was supported by a grant from the University of Auckland under
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[STRATEGIC AUDIT REPORT OF APPLE INC] 1 APPLE INCORPORATED A STRATEGIC AUDIT REPORT ON APPLE INCORPORATED August 2010 Copyright © 2010 Sheikh Adnan All Rights Reserved 2 [STRATEGIC AUDIT REPORT OF APPLE INC] Submitted To University Of Wales‚ Lampeter As a partial requirement for the degree of MBA Strategic Management MBA Core Module: MBA3710-L Submitted by Sheikh Adnan Student Number: 29002361 Sheikh.adnan@stu.ctlondon.ac.uk Copyright © 2010 Sheikh Adnan All
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Jr and of course KFC. The chosen case is the popular issue of animal cruelty done by Kentucky Fried Chicken. I chose this particular case because this is a company that affects a lot of people around the world. I believe that this case can inspire readers that in this fast paced world‚ one must stop and think what is really happening right in front of us. This case highlights the ethical issues involved in KFC’s business operations around the world. The activists against KFC are mainly PETA along
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Report on International Ethical Issues February 20‚ 2010 TABLE OF CONTENTS 1). Executive Summary…………………………………………………………………3 1.1 Background and learning goals of the report …………………………………3 2). Introduction to Dell Inc………………………………………………………………4 2.1 Background of Dell Inc. ………………………………………………………4 2.2 International activities of Dell Inc. ……………………………………………5 3). International ethical issues facing Dell Inc. ………………………………………6 3.1 Employment Practices…………………………………………………………6
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