Chapter 8 Audit Planning and Analytical Procedures PLANNING Why auditor should properly plan engagements: a. To enable the auditor to obtain sufficient appropriate evidence for the circumstances b. To help keep audit costs reasonable c. To avoid misunderstanding with the clients Acceptable Audit Risk is a measure of how willing the auditor is to accept that the F/S may be materially misstated after the audit is completed and an unqualified opinion has been issued. When auditor decides on a lower
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Introduction...................................................................................................Page 3 Tack 1...........................................................................................................Page 3 1.1. Organisational culture and structure......................................................Page 3 Flat Structure.................................................................................................Page 3 Tall Structure..........................
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BUSINESS SCHOOL Unit of Study Outline Unit Code ACCT3014 Unit Title Auditing and Assurance Semester 2‚ 2013 Pre-requisite Units: ACCT3011 or ACCT3001 Co-requisite Units: n/a Prohibited Units: ACCT3004 Assumed Knowledge and/or Skills: You are assumed to understand the key principles and rules of specified accounting standards and be able to apply them in the context of business scenarios. Students are expected to comprehend the form and content of published financial statements and be able to
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“Accounting did not cause the recent corporate scandals‚ unreliable financial statements were the results of management decisions‚ fraudulent or otherwise”. (Lin & Wu‚ 2006‚ para. 5) Waste Management‚ HealthSouth‚ Enron‚ Satyam and Madoff are just a few names that come to my mind when I think of fraudulent accounting. Disguised loans‚ inflated income‚ improper accounting and misstated earnings‚ different words all describing the same thing‚ FRAUD. Fraud affects the company‚ the consumers
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Lesson:-35 ORGANISATIONAL CULTURE Students what do you all think Organizational Culture is ? Can you all define it in your own way…. In the 1980’s‚ we saw an increase in the attention paid to organizational culture as an important determinant of organizational success. Many experts began to argue that developing a strong organizational culture is essential for success. While the link between organizational culture and organizational effectiveness is far from certain‚ there is no denying
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Ethical Dilemmas for Auditors Discussion Paper May 2006 1 The Institute of Certified Public Accountants in Ireland Ethical Dilemmas for Auditors Dilemma One – Non-Audit Services 3 Dilemma Two – Fee Levels 6 Dilemma Three – Ethics Partner 7 Dilemma Four – Long Association with the Audit Client 8 Dilemma Five – Commencement in Practice 9 Dilemma Six – Financial Interest in a Client 10 Dilemma Seven – Business relations with audit clients 11 Dilemma
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Natural Disasters and the Decisions that Follow Q1: Insurance companies in the state of Florida earned record profits in 2006‚ suggesting that Nationwide’s decision to cancel policies in light of the calm hurricane seasons (in Florida) in 2005-2007 may have cost the company potential revenue and customer goodwill. Do you think Rommel’s quote about making a ’’sound business decision’’ reveals any perceptual or decision-making biases? Why or why not? Overconfidence bias is identified as ’’the
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4 Organisational cultures Introduction: defining culture The concept of culture has become increasingly significant in education during the 1990s and into the twenty-first century. This enhanced interest may be understood as an example of dissatisfaction with the limitations of those leadership and man- agement models which stress the structural and technical aspects of schools and colleges. The focus on the intangible world of values and attitudes is a useful counter to these bureaucratic assumptions
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leadership and theories of organization Examine the relationship between motivational theories Demonstrate an understanding of working with others‚ teamwork‚ groups and group dynamics Assessment criteria 1.1 Compare and contrast different organisational structures and culture 1.2 Analyse the relationship between an organisations structure and culture and the effects on business performance 1.3 Analyse the factors which influence individual behavior at work Organisations and Behaviour OB:
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Audit case You are the engagement partner in a firm of chartered accountant and are reviewing the audit fire of a client ABC ltd. the audit manager has recommended that the audit option is qualified because he is in dispute with the directors of ABC ltd. The audit manager wishes the directors to create a large doubtful debts provision against a major debtor that is over six months old. The directors do not witch to alarm the public about the current liquidity problems of their major costumer because
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