Certified Public Accountant profession in Germany – Wirtschaftsprüfer CPA is the american title for the profession as an auditor. In Germany it’s called Wirtschaftsprüfer and is one of the most coveted professions but has also the hardest state examinations. How to become a CPA in Germany? Becoming a CPA is a long way in Germany. The candidate needs to meet several requirements to get admission to the state exam‚ even personal ones. Requirements: • First of all the person needs
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every company and institution or school and one of this is the “Registration with Grading System”. Computerization is a control system that manages processes in industrial workplace. It reduced human errors and processing time‚ thus it can boost productivity and resulted into high quality of product produce‚ while enrollment is the process of entering and verifying data of the student to register on a particular school. So that‚ “Registration with Grading System” is the must have system in a school. It
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the person who committed the delict which provides allows for the former to incur the liabilty. The object of this assignment is to explain the principle of vicarious liability and show which instances it applies to. Reference will be made to decided cases and statutes. 2. Employer- Employee Relationship The employer- employee relationship is one of the most common occurrences of cases of vicarious liability. The most accepted reason for conferring liability to the employer is that by assigning
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Norman Conquest after 1066.1 The Conquest brought with it a sharp distinction which still exists‚ technically between land and chattels. Chattels are things that can be owned; land cannot be owned‚ except by the monarch. If a private citizen cannot ’own’ land‚ what is it that we really do own when we think of ourselves as ’land-owners’? Technically‚ we own what lawyers call an estate in land.2 Although ’estate’ is a general term with an everyday meaning‚ in this context it has a specialist interpretation
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the risk assessment process and the collection of audit evidence? The risk assessment process happens at the very beginning of the engagement and is to determine the level of risk present in the company. The risk assessment phase is when the auditor assess the client’s situation‚ conducts an independence threat analysis and decides whether to accept the client or not. The risk assessment is influenced by various factors such as the degree to which external users will rely on the audited statements
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Road Ocean City‚ Florida 33140 Dear Mr. Phillips: This letter is to confirm our understanding of the terms of our engagement as the auditors of Oceanview Marine Company for the year ended December 31‚ 2014. We will audit the company’s balance sheet for December 31‚ 2014‚ and the related statements of income‚ retained earnings‚ and cash flows for the year then ended. The purpose of our audit is to form an opinion as to whether these statements are fairly presented in accordance with accounting
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for an Auditing and Assurance Profession Key Services for Public Accounting Firms Audits High Assurance (95% - 99%) Reviews Moderate Assurance (60% - 70%) Compilation Low to No Assurance (0% - 10%) Assurance Engagements (Triangle diagram based on the subject matter at hand) Practitioner (Auditor) Users Accountable Party (Management) Practitioners give the Users a written conclusion Accountable party must have an accountability relationship with the Users Auditors in an engagement
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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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AUDITING THEORY 8. Which of the following should an auditor do when control risk is assessed at the maximum level? A. Perform fewer substantive tests of details. B. Perform more tests of controls. C. Document the assessment. D. Document the internal control system more extensively. 9. Which of the following is least likely to be a test of a control? A. Inquiries of appropriate personnel. B. Inspection of management’s engagement letter. C. Observation of the application of a policy. D.
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CONTROLS IN AN EDP ENVIRONMENT The second standard of field work requires that we obtain a sufficient understanding of the client’s internal controls (I/C) to plan the audit and assess control risk. We hope that our assessment of control risk shows it to be low so that we can reduce substantive testing‚ thereby reducing audit costs. When EDP is used in significant accounting applications‚ then you must consider the effects the computer has when evaluating the internal controls. The auditor’s
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