Table of contents: 1. Introduction ---------------------------------------------------------------------------------- -2- 2. The first effect: accountants responsibility increase * Special sections of SOX that increase accountants responsibility by imposing criminal liability------------------------------------------------------------------------------------------ -3- * Accountants independence resulting in a higher responsibility of accountants------- -4- * Fraud decrease
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maintain support from the public over the reports regarding auditing and assurance. Before an accountant starts his audit work‚ there is a need for him to have a plan of work. This paper focuses on the significance of audit planning to an auditor who is willing to engage with a multinational company. In this case‚ the paper focuses on the value of having an audit plan for Golden Ale‚ a multinational company dealing in the manufacture and bottling of brews. Audit Planning Audit planning is vital for
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encompasses the mechanisms by which companies and those in control are held to account” (2007‚ p. 3). There fore‚ corporate governance influences how the objectives of the company are set and achieved‚ how risk is monitored and assessed‚ how performance is optimised. In fact‚ effective corporate governance structures encourage companies to create value through entrepreneurism‚ innovation‚ development and exploration and provide accountability and control systems commensurate with the risks involved (AXS CGC
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recommended the use of industry-specific software. It has examined the automation of the company’s data table through its elements and it has explained how the use of pivot tables can improve management decision-making. It has scrutinized the internal controls and it has suggested the implementation to achieve corporate governance. It has also analyzed the process of the audit plan that Kudler should follow. Finally‚ Jarowito will recommend ways the audit documentation and process may improve the
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PRAIRIE TECHNOLOGY PARTNERS Planning Memo December 31‚ 2011 We have been retained as continuing auditors for Prairie Technology Partners (PTP) for the year ending December 31‚ 2011 Engagement Objectives * Provide our report on the examination of PTP’s financial statements by February 5‚ with year-end fieldwork to begin January 14‚ 2012 * Issue our management letter comments by February 10
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The Lakeside Company: Auditing Cases SOLUTIONS MANUAL 11e Table of Contents John M. Trussel and J. Douglas Frazer A Not on Ethics‚ Fraud and Sox Questions 2 A Note on Research Assignments 4 Introductory Case 6 Case 1 13 Case 2 21 Case 3 29 Case 4 39 Case 5 51 Case 6 67 Case 7 74 Case 8 83 Case 9 92 Case 10
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knowledge about objectives of doing audit. The course also aims to explain the liability and responsibility of the auditor and how the computerised environment effects the business environment. * Course Outcomes On successful completion of this paper‚ candidates should be able to: 1. Describe the basics concepts of auditing and different types of auditing services. 2. Apply the fundamental principles of auditing‚ professional ethics‚ various auditor’s responsibilities and legal liabilities
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Social Responsibility and Regulation The purpose of this paper is to determine how governmental Corporate Social Responsibility (CSR) policies assist consumers and organizations; to evaluate if government polices differ throughout the world; to show ways that politics shape the regulation of businesses. CSR Policies and Consumers/Organizations Governmental CSR policies were developed to assist consumers and organizations. For example there was a government regulation enacted to protect the financial
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installed the system needs to be contacted and hold training session for employees Glitches I: inaccurate reporting‚ create room for error R: Contact the company again and get them back and give them responsibility to fix the glitches 2. Identify Control Issues: Understaffing people are overworked‚ may get sloppy R: Hire more staff Lack of segregation of duties‚ bookkeeper does the bank rec and A/R ledger R: Get someone else to do one of those duties Mismatch b/w what’s shipped and what’s recorded
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making them loose confidence in financial statements provided. Such loses created concern within the government prompting them to overhaul all the existing regulatory standards to come up with new ones to restore the confidence of the investors. This paper aims to discuss those new regulatory rules; famously known as Sarbanes-Oxley Act to establish the effect they have created so far on the economy in general. This was an act that was passed into law in 2002 by the United States congress to protect
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