Auditing Theory and Practice Case 1 WorldCom: A Focus on Professional Responsibility Prepared by: EL Ahmadi Med Reda Worked With: Ibtihal Slassi Fall 2013 1- Auditor independence refers to the disinterest from the internal and external parties that could influence the professional judgment of an auditor. In other words‚ auditor independence is the lack of any interest that may create a threat or a risk of material bias regarding the reliability of the financial statement
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RAFT Task 1 Executive Summary By Cindy Granger December 1‚ 2011 Mission: To implement a corrective action plan in the area of Communication for Nightingale Community Hospital as required for Joint Commission Compliance. Corrective Action Plan: Standard: UP.01.01.01: Conduct a Preoperative Verification Process. At the present time Nightingale Community Hospital is not in compliance with rule UP.01.01.01. Nightingale currently has a five step verification process in regards to Preoperative/Pre-procedure
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because it relates to a false or misleading statement in documents filed with the A: SEC 7) Within generally accepted auditing standards‚ general standards relate primarily to a. the fairness of the financial statements b. qualifications of the auditor and the quality of the auditor’s work c. qualifications of the auditor d. the relationship between generally accepted auditing standards and accounting principles 7) Statements on
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know the state of affairs of the business. The man who performs this work is called an accountant. His work is to interpret and review the accounts and draw conclusions to guide the management in chalking out the future policy of the business. Auditing means the verifications of book entries and accounts to find out their accuracy. It is neither book-keeping nor accountancy. His work is to find out whether the final account exhibit a true and fair view of the state of affairs of the concern or
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ACKNOWLEDGEMENT I would like to acknowledge and extend my heartfelt gratitude to the following persons who have made the completion of this case study report possible‚ firstly to my course instructor Sir Butt for his vital encouragement and support‚ my friend Wajeeha who really helped me by correcting me with some of my queries about some portion of the case and last but not the least thanks to my family for their outmost support. One again thanks to my PROFFESSOR Sir Butt who gave me the opportunity
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reports have been furnished to us‚ and our opinion‚ insofar as it relates to data included for Oceanview Marine Company‚ Dec 2007‚ is based solely on the report of the other auditor-Talbert and Johnson‚ PC. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining
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History (from Greek ἱστορία - historia‚ meaning is about an umbrella term that relates to past events as well as the discovery‚ collection‚ organization‚ and presentation of information about these events. The term includes cosmic‚ geologic‚ and organic history‚ but is often generically implied to mean human history. Scholars who write about history are called historians. History as well as ancient geometrical applications of history can also refer to the academic discipline which uses a narrative
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Contemporary Auditing Chapter 5 – Comprehensive Question 5-30 (Assertions) In planning the audit of a client’s financial statements‚ an auditor identified the following issues that need audit attention. Please only write in the associated assertion 1. Valuation or allocation 2. Completeness 3. Existence and occurence 4. Completeness 5. Rights and obligations 6. Completeness 7. Valuation and allocation 8. Existence and occurence 9. Presentation and disclosure 10. Valuation or allocation
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Table of Contents I. Introduction II. The purpose of internal auditing III. Profession guidance on independence and objectivity IV. Consulting services: a challenge to audit independence? V. Independence vs. Objectivity VI. Conclusion VII. Bibliography I. Introduction The internal auditor occupies a unique position he or she is employed by the management but is also expected to review the conduct of management which can create significant tension since the internal auditor’s independence
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History and geographyFrom Wikipedia‚ the free encyclopedia This article is about the academic discipline. For a general history of human beings‚ see History of the world. For other uses‚ see History (disambiguation). Historia by Nikolaos Gysis (1892) Those who cannot remember the past are condemned to repeat it.[1] —George Santayana History (from Greek ἱστορία - historia‚ meaning "inquiry‚ knowledge acquired by investigation"[2]) is an umbrella term that relates to past events as well
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