for this paper; Reference: Johnson‚ R. (ed)‚ Readings in Auditing Volume 2‚ John Wiley & Sons Australia‚ 2007. Answer the following 4 questions: Question 1: (Chapter 10 “Australian Wheat Board”‚ p135 Question 4) Discuss the lessons to be learnt from the AWB scandal. Question 2: (Chapter 12 “Fraud prevention and detection- further guidance”‚ p158 Question 3) Explain the role internal controls and code of conduct play in preventing and detecting fraud. How effective are internal controls and codes
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OPERATIONAL AUDITING: ACCT 476 / CCAU 525 Internal Auditing in Not-For-Profit Organizations TABLE OF CONTENTS ABSTRACT: .....................................................................................................................................................................2 INTRODUCTION ..............................................................................................................................................................2 SECTION I: CORPORATE GOVERNANCE
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that have prompted the use of and been solved using IT audit techniques. IT Audit process outline; process and phases. Planning the audit‚ materiality‚ risk assessment. 2) Effective information system audit. Evaluation of controls‚ types and tests of controls. Audit sampling‚ sampling methods‚ sample evaluation. 3) Audit automation and system testing: Computer assisted audit techniques. Traditional vs modern audit tools‚ Specialized audit software benefits and functions. Applications
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can eliminate the problem 13) We have so far learned types of audits. Two of these are internal and external audits. Explain the meaning and differences‚ if any‚ of these two types of audit. Are these types of audit related? 14) From the auditing definition we can deduce who is an auditor‚ what he/she does and what he gives out from his/her audit. Justify 15) Any entity/business without an internal control is like an open basket full of clean water
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equal value) Total exam: 55 Marks (represents 55% of final assessment) All questions are compulsory. Multiple choice questions are to be answered on the answer sheet. Written questions are to be answered in the spaces provided on this exam paper. THIS PAPER MAY NOT BE RETAINED BY THE CANDIDATE. ANSWERS MUST BE WRITTEN IN INK. 1 PART A MULTIPLE CHOICE QUESTIONS (total of 15 marks) This question contains fifteen (15) multiple choice questions each worth one (1) mark. A separate answer
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MINISTRY OF EDUCATION FIJI SCHOOL LEAVING CERTIFICATE EXAMINATION – 2005 EXAMINER’S REPORT ACCOUNTING 1.0 INTRODUCTION This year’s paper examined the very basics of accounting such as the work covered at the FJC and FSLC levels. Some 4‚400 candidates sat for the paper‚ showing varying range of abilities and skills towards problem solving. It was disappointing to note that candidates were not able to handle some very basic concepts and calculations. Computations of
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CHAPTER 7 Fraud‚ Internal Control‚ and Cash Study Objectives 1. Define fraud and internal control. 2. Identify the principles of internal control activities. 3. Explain the applications of internal control principles to cash receipts. 4. Explain the applications of internal control principles to cash disbursements. 5. Prepare a bank reconciliation. 6. Explain the reporting of cash. 7. Discuss the basic principles of cash management.
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This course focuses on studying and documenting these processes‚ reviews the various qualities of information‚ and assesses the ability of the financial and accounting information systems (AIS) to support these processes. The course also explores control issues pertaining to business processes and AIS‚ and the implications of technology-enabled changes on business processes. Students will be introduced to tools and techniques for examining any business process and its corresponding information systems
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INTERNAL CONTROL AND CONTROL RISK 7.1 Learning Objectives After studying this chapter‚ you should be able to Understand the basic definition of internal control. Discuss why internal controls are important to the auditor. Characterize the differences between general and application IT controls and how to reduce IT risk. Distinguish between the different components of internal control. Describe the elements of the control environment. Evaluate how managements objectives are related to risk assessment
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The objective of this paper is to examine the fraud phenomenon and fraud vectors aiming at identifying appropriate prevention actions. The author focuses on the internal audit role in fraud prevention‚ identification and investigation. Our research results conclude on means of improving fraud risk monitor and prevention‚ providing suggestions for proactive approaches in control processes’ improvement. Keywords: fraud‚ fraudulent financial reporting‚ red flags‚ internal audit JEL classification:
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