Denise Brown M02076442 Gillian Clarke Foundation Degree in Payroll Management (September 2014) FDPP 1226 Provision of Effective and Efficient Administration 9Th February 2015 Contents Page Introduction 3 Main Report 3 Pay Methods and Procedures 3 Appropriateness of methods and procedures against Audit requirements 5 Design and distribution of payroll outputs 7 Application of quality standards to the payroll function 8 Conclusion 10 Recommendations
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design and install a centralized computer network that would provide them with detailed information about their nationwide operations. What went wrong is a story of improper accounting practices and the issuance of unqualified financial statements by auditors who knew they were fraudulent‚ but chose to issue them anyway. Management Style: The business model of Dean Buntrock and his contemporaries was to use an aggressive management style and purchase smaller companies through illegal trade practices
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with 2 aircraft - Boeing 737-200F - Cessna Grand Caravan Operating Primarily -Air cargo carrier Principal activities of FCB Subsidiaries -Air Freight Service and Aircraft Ground handling service 15 September 2001 -Obtained listing in Bursa Malaysia Auditor -Kenyans & Associates In 2001 to 2004 -the have a fast growing at intra- Asian air express market -demand for express transportation Services increased. -give best delivering quality services and satisfying customer demand. FCB Wholly Owned Subsidiaries
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programs‚ such as for store personnel. Cultural control: PacSun must receive “clean” opinion and financial statement from the external auditors each fiscal year for the company to keep on running. 2. Discuss the benefits and costs for PacSun of complying with SOX. Is it worth it? Benefits: The Company received “clean” opinion and financial statements from the external auditors‚ which is good for the image of the company when this information disclosed to public. Also in
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its director‚ they should appoint an independent auditor to provide assurance about various aspects of the company’s activities such as internal control assessments and reviews. However‚ the arguments against allowing employees to join audit committee are that own employees is viewed as part of the client by the external auditors. There might be conflict of interest in which increases the chance of hiding certain liability items or limiting the external audit to access fully on the information required
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American Institute of Certified Public Accountants’ (AICPA’s) Statements on Standards for Attestation Engagements (SSAE). When an auditor conducts an attestation engagement under generally accepted government auditing standards (GAGAS)‚ the engagement must be conducted in accordance with the SSAEs and additional GAGAS standards. This appendix is not intended to replace auditor judgment‚ and while comprehensive‚ the peer review team may also wish to consult with other guidance as warranted. That guidance
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company‚ he was told that life as the head of a corporate is becoming unbearable due to competition and increased in the cost of living. Still‚ Mr. Wan kept quiet while congratulating his three wise men for a fantastic job each year. Even the external Auditors could not believe the significant progress‚ which
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influence by the Tanzi family to act as a protection to the integrity of the company operation and safeguard of the company assets. We will examine the nature of the Parmalat accounting fraud‚ the process leading to the identification of the fraud‚ the external and internal responses to the fraud and finally‚ a discussion in which the Parmalat scandal could have been prevented if certain independent controls and mandatory regulations were in place. Nature and Context of the Parmalat Fraud The setup
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procedures and process of communicating internal control related matters identified in an audit and provides guidelines to external auditors about communicating an entity’s internal control-related matter identified during the audit. It permits management to prevent‚ detect‚ and correct misstatements. It addresses three categories of deficiencies‚ which may exist in the external audit of a company’s financial statements. Types of Deficiencies The first is control deficiency‚ which applies when the
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Issues December 16‚ 2008: Satyam board approved a 51% stake acquisition of Maytas Infra‚ a listed company in the Bombay Stock Exchange for US$1.3 billion and 100% stake in unlisted firm Maytas Properties for US$300 million. Both of these firms were in the construction and real estate business and Satyam’s chairman‚ Ramalinga Raju family held a 36% stake in Mayta’s Infra and 35% stake in Maytas Properties. Implication: The deal was seen as a way of diverting cash from Satyam’s shareholder to Satyam’s
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