on the quality and quantity of audit evidence to be obtained when auditing financial statements and the procedures for obtaining that audit evidence. Audit Evidence (AE) "Audit evidence" means the information obtained by the auditor which includes source documents and accounting records underlying the financial statements and corroborating1 information from other sources. The auditor should obtain sufficient appropriate audit evidence to be able to draw reasonable
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Question: Define audit and accounting risk‚ give 3 specific example of each type of risk and explain why they are called audit and accounting risk. * Accounting risk is the risk that errors associated with forecasts used in GAAP accounting estimates are not properly disclosed. Accounting risk is primarily the responsibility of accounting standards. It is dealt with only indirectly in accounting standards. For example: * Bad debts on loans had an historic rate of 1% of outstanding loans
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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‚ analysis
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Internal Audit Report ExDRA Internal Audit Report – Walton Halls Barn Feasibility Study May 2006 Internal Audit Report Contents 1 Executive Summary ................................................................................................................ 1 2 Background ............................................................................................................................. 1 3 Scope and Objectives............................................................
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INTRODUCTION This case presents the actual family-business dilemma and identities have been changed to protect family privacy. The author’s opinions do not necessarily reflect the views of the Malaysian Institute of Accountants and this case was written for academic purpose only and the author disclaims any legal responsibilities. This report will be discussed more details about the issues that arise in the company. Those issues are about the leadership‚ management and also
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UNIVERSITY Institute of Accounts‚ Business & Finance Audit Communications Report Writing Canayon‚ Angelie Rose T. Puno‚ Michelle Ann J. Royong‚ Precious B. Rubio‚ Ephraim Jomel P. Tulio‚ Ayn Carla M. AIA0212 TOPIC OR SECTION: Account Receivable: Cashier’s Office I. SCOPE An audit of the Cashier’s Office was conducted for the period January 1‚ 2013 through December 31‚ 2013. The objectives of the audit were to examine and evaluate the following: • Adequacy and
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Audit Objectives: a. Determining that cash on hand as shown in the general ledger is represented by currency and coins on hand. b. Determining ownership and proper accountabilities c. Ascertaining that cash balances are available without restrictions. Audit Procedures: a. Examination of cash proof sheets and tracing of their totals to the general ledger b. Test tracing of deposit or withdrawal slips to individual subsidiary ledgers and vice
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To provide students with an opportunity to learn (by doing) how auditors identify various client and audit risks. The case also provides students with insight into how a risk analysis ties in to the strategic audit planning process. To provide students with hands-on experience responding to client concerns and issues. Often auditing students do not realize the extent to which clients request interpretations of standards and financial statement reporting and disclosure issues. This case requires
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DEFINITIONS OF AUDIT‚ AUDIT OF INFORMATION AND AUDIT OF KNOWLEDGE (Ditujukan pada mata kuliah Manjemen dan Preservasi Pengetahuan) Dosen Utami Budi Rahayu Hariyadi‚ M.lib Disusun Oleh : Yasser Arafat (0906587376) PROGRAM STUDI MAGISTER ILMU PERPUSTAKAAN DAN INFORMASI FAKULTAS ILMU PENGETAHUAN BUDAYA UNIVERSITAS INDONESIA 2009 A. AUDIT 1. Pengertian Dibawah ini terdapat beberapa pengertian khusus dari audit yang dikemukakan dalam beberapa kamus. Pengertian audit tersebut antara
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ASSERTION -Audit assertion are those charged with governance of an entity are responsible for ensuring the financial report gives true and fair view of entity and the operation of its. -Management make assertions abt each account and related disclosures in the notes. -Assertion statement made by management regarding the recognition‚ measurement‚ presentation and disclosure of items include in the financial report. auditor use assertion for transaction‚ account balance and presentation and disclosure
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