| |This report has been prepared to cover the assessment requirements of AAT Learning and Assessment Area ‘Internal Control and Accounting Systems.’ | |The objectives of this report are to: | |a)analyse accounting system and effectiveness of its internal control | |b) to identify the strengths and weaknesses
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Entity’s Internal Control ............................................ 11-24 Identifying and Assessing the Risks of Material Misstatement ............ 25-31 Documentation ...................................................................................... 32 Application and Other Explanatory Material Risk Assessment Procedures and Related Activities ............................ A1-A16 The Required Understanding of the Entity and Its Environment‚ Including the Entity’s Internal Control .....
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Case Study 2 Internal Control of Ljb Company |Case study : 2 | |Internal Control Evaluation | |LJB Company | | | To whom to be submitted: Prof. Kim Chung By whom to be submitted: Md.Tanvir Apon Submission Date: 02/09/2014 Table of Contents |S/L. |Description |Page No. | |1. |Preface |3 | |2. |LGB Company: Internal Control Evaluation |4-6 | |3. |References |7 |
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Accounting Oversight Board‚ or PCAOB‚ charged with overseeing‚ regulating‚ inspecting and disciplining accounting firms in their roles as auditors of public companies. The act also covers issues such as auditor independence‚ corporate governance‚ internal control assessment‚ and enhanced financial disclosure. The nonprofit arm of Financial Executives International (FEI)‚ Financial Executives Research Foundation (FERF)‚ completed extensive research studies to help support the foundations of the act.
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Corporate Compliance Answer Book.book Page 29 Thursday‚ June 17‚ 2010 4:20 PM 2 Implementation of Effective Compliance and Ethics Programs and the Federal Sentencing Guidelines Steven D. Gordon* How should a company go about designing and implementing a compliance program? While other chapters address the specifics of compliance programs in particular industries‚ this chapter considers issues relating to designing and implementing compliance and ethics programs generally. The biggest influence
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Integrity and Validation Kudler Finer Foods has come to the accounting firm in search of recommendations regarding the companies‚ computer information system‚ automated process of their accounting information system‚ data table analysis‚ internal control and risk evaluation‚ and an audit proposal. Kudler’s recent visit was warranted by concerns of the company’s system integrity and validation. Kudler Finer Foods has an excellent rapport with the accounting firm. The accounting firm will inform
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Government Regulation Research Paper 1 John Smith Introduction Government regulation is around us everywhere. The government needs to make sure that the public’s interests are maintained and preserved. Being an accounting student‚ I have heard and read about regulation in the accounting industry numerous times. There have been many major accounting scandals in history that have lead to many different kinds of government regulation. The government regulations in accounting are mostly enacted
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3D Fraud Risk Assessment Model Dinev’s SMARTGuide INSTITUTE OF EXPERT FRAUD EXAMINERS First Edition - 2012 Foreword .......................................................................................6 Part I: Navigating Fraud Risk Assessment Terminology ..............8 1.1. What The Dinev’s SMARTGuide Isn’t and Is? .............................................8 1.1.1. The Dinev’s SMARTGuide Isn’t ... ..........................................................................8
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CASE 3.5 Goodner Brothers‚ Inc. “Woody‚ that’s $2‚400 you owe me. Okay? We’re straight on that?” “Yeah‚ yeah. I got you.” “And you’ll pay me back by next Friday?” “Al. I said I’d pay you back by Friday‚ didn’t I?” “Just checkin’.” Borrowing money from a friend can strain even the strongest relationship. When the borrowed money will soon be plunked down on a blackjack table‚ the impact on the friendship can be devastating. Woody Robinson and Al Hunt were sitting side by side at a blackjack table
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the receipt of goods has been recorded. True False 8. Proper separation of duties involves the purchasing department as the recordkeeping function. True False 9. If internal controls over the expenditure cycle are weak‚ auditors will need to design substantive procedures to try to detect whether control failures have produced misleading financial statement account balances. True False 10. If the risk of material misstatement is assessed as high‚ it is likely that additional
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