CHAPTER 6 Audit Evidence |Learning Check | 6-1. a. Audit evidence is all the information used by the auditor in arriving at the conclusion on which the audit opinion is based. Audit evidence includes (1) the accounting records underlying the financial statements and (2) other information that corroborates the accounting records and supports the auditor’s logical reasoning about fair presentation in the financial statements. b. Any information that is obtained
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Example: Audits of Financial Statements‚ Examinations of Internal Control Other Assurance Services Example: CPA ElderCare Prime Plus Services NonAssurance Services Tax Services Management Consulting Services Other Notes: Reliability reduces information risk. Attestation Services To attest to information means to provide assurance as to its reliability Attest engagement: A practitioner is engaged to issue or does issue an examination‚ a review‚ or an agreed-upon procedures report on
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TYPES OF AUDITS Operational PURPOSE: To evaluate whether operating procedures are efficient and effective USERS: Management of the organization NATURE: Highly non-standard; often subjective FREQUENCY: PAs: Frequently AGs: Frequently CRA: Never Internal: Frequently Compliance PURPOSE: To determine whether the client is following specific procedures set by higher authority USERS: Authority setting down procedures‚ internal or external NATURE: Highly non-standard; often subjective FREQUENCY: PAs:
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THE FINANCIAL AUDIT – THE GUARANTOR OF THE TRUE AND FAIR VIEW SUPPLIED BY THE FINANCIAL STATEMENTS Boa-Avram Florin Babe-Bolyai University‚ Cluj-Napoca‚ Faculty of Economical Science and Business Administration‚ St. Teodor Mihali‚ No. 58-60‚ 400591‚ Romania‚ botaavramflorin@yahoo.com‚ Tel: 0740-886491 Mati Dumitru Babe-Bolyai University‚ Cluj-Napoca‚ Faculty of Economical Science and Business Administration‚ St. Teodor Mihali‚ No. 58-60‚ 400591‚ Romania‚ dmatis@econ.ubbcluj.ro‚ Tel:
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tenure. These characteristics have an impact on the attitudes that an individual may have towards work and dependent variable such as productivity‚ absenteeism‚ and turnover and job satisfaction. The relationship between age and job performance is of great importance because it is believed that job performance decreases as age increases. Though not all employers have perceptions of older employees. From a positive perspective it is noted that older employees have more experience‚ judgment‚ ethics
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3. When an auditor believes that an illegal act may have occurred‚ the auditor should first: The answer is C‚ to inquire management at a level above those likely to be involved. The reason C is the correct answer is because it is one of the three things that an auditor should do when they believe that an illegal act has occurred. The other 2 things that they should do are: The auditor should consult with the client’s legal counsel or other specialist who is knowledgeable about the potential
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V A SYSTEMS APPROACH TO PERSONNEL MANAGEMENT‚ V’ An Inaugural Lecture given in the University of Fort Hare on the 10th June 1976k by P. B.|TREVOR-ROBERTS Professor of Industrial Psychology C.39 -.-‚-C’’=FORT HARE UNIVERSITY PRESS C.39. INSTITUTE OF INDUSTRIAL RELA TIONS i) 1976 0 L1I1RARY MAR 1 5 1978 UNIVE.41Y OF (.ALWURNI.A BERKELEY A SYSTEMS APPROACH TO PERSONNEL MANAGEMENT An Inaugural Lecture given in the University of Fort Hare on the 10th June 1976 by P. B. TREVOR-ROBERTS Professor
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IEEE TRANSACTIONSN ON DEPENDABLE AND SECURE COMPUTING VOL:10 NO:4 YEAR 2013 1 NICE: Network Intrusion Detection and Countermeasure Selection in Virtual Network Systems Chun-Jen Chung‚ Student Member‚ IEEE‚ Pankaj Khatkar‚ Student Member‚ IEEE‚ Tianyi Xing‚ Jeongkeun Lee‚ Member‚ IEEE‚ and Dijiang Huang Senior Member‚ IEEE Abstract—Cloud security is one of most important issues that has attracted a lot of research and development effort in past few years. Particularly‚ attackers can explore
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Audit Plan- GlaxoSmithKline (GSK) Key business and audit risk: In order to make the report more efficient we must identify the key areas of business risk and auditing risk. Business risk can be defined as the risk‚ which could affect an organization’s ability to achieve its objectives (Gray and Manson‚ 2007). Audit risk is defined as the risk that the auditor gives an inappropriate audit opinion when the financial statements are materially misstated (Soltani‚ 2007). In Gray and Manson (2007)’s
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INTERNAL AUDIT 1 Internal audit ‘Internal audit’ is an appraisal activity established by management for the review of accounting and internal control systems as a service to the entity. It reviews‚ monitors and make recommendations for the improvement of systems. Other activities include: Examination of financial information Review of economy‚ efficiency and effectiveness (‘value-for-money’ audits) Review of compliance with external laws and regulations Review of internal policies Review
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