Mexicana Wire Works In partial fulfilment Of the course requirement In Management Science 1st Term‚ S.Y. 2012-2013 Submitted to: Dr. Dennis Berino Prepared by Group 5: Shyne Ampatuan Diberjohn Balinas Jo-Ann Deseo July 24‚ 2012 Company background Mexicana‚ a subsidiary of Westover Wire Works‚ a Texas firm‚ is a medium-sized producer of wire windings used in making electrical transformers. Its product‚ the windings‚ is considered a standardized design. The production process for this involves
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Information (FTI) By Proactive Auditing Introduction The traditional way to audit a system involves identifying issues that have already occurred‚ then reviewing audit logs to determine which relevant events are of a serious nature. While this "after the fact" or “passive” auditing is an important tool in data security‚ an auditing program requires significant resources in people‚ process and technology to effectively identify potential incidents in a timely manner. Auditing management should be
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Abstract Financial audit is about the opinion expressed by auditor with all material respects and any relevant legislation for instance corporation act 2001. A good financial audit should be provided with true and fair view. It is responsible for auditors to provide a truth and fairness opinion as well as information involved in a financial report (MORONEY‚ CSMPBRLL & HAMILTON 2011). Pre-consideration of develop audit strategy is the assessments of materiality‚ audit risk (the relationship
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Westover Wire Works Student Name: Professor’s Name: Course Title: Date: 1.To solve Westover Wire capacity problems affecting customer demand in the sense that the company has not been able to produce to a capacity enough to meet its customers demand levels‚ Garcia should propose to the company’s management team to temporarily cut down excess booking. In the mean time the company can focus on embark on capacity building measures such as those proposed by production control manager José Arroyo
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In recent years‚ as the collapse of some renowned companies‚ the issue of audit independence turns to be more and more concerned by the international regulators. Independence is the cornerstone of the auditing profession‚ and auditor’s opinion is suspect if lack of independence. However‚ in some circumstances‚ some potential threats of audit independence would be generated as jointly provision of non-audit and audit services to the audit client. Although it will create threats to independence‚ some
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Page 1 of 7 CPA REVIEW SCHOOL OF THE PHILIPPINES Manila AUDITING THEORY Professional Accounting Practice Related PSA : Preface to PSA and Related Services 1. The following statements relate to the accounting profession: I. To merit public trust and confidence‚ the professional person must convince the public that he will place public service ahead of personal reward. II. A CPA certificate is evidence of basic competence in the discipline of accounting at the time the certificate
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between sample size and other elements of auditing? A. If materiality increases‚ so will the sample size. B. If the desired level of assurance increases‚ sample sizes can be smaller. C. If materiality decreases‚ sample size will need to increase. D. There is no relationship between sample size and materiality or the desired level of assurance. 3. Which of the following statements about the study of auditing is NOT true? A. The study of auditing can be valuable to future accountants and
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explain how an auditor goes about the process of auditing financial statements and presents the five basic stages that the auditor performed during the financial statement audit at Maryward Primary School in Kwekwe for the year ending 31 December 2012. In order to be in a position to fulfil auditing responsibility to report on the client’s annual financial statements‚ the auditor followed a series of procedures and activities as required by the auditing profession. The auditor applied the following
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1Chapter 26 Internal and Governmental Financial Auditing and Operational Auditing Review Questions 26-1 Internal auditors who perform financial auditing are responsible for evaluating whether their company’s internal controls are designed and operating effectively and whether the financial statements are fairly presented. This responsibility is essentially the same as the responsibility of external auditors who perform financial audits. The two types of auditors are also similar in that
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Bird on the Wire by Cohen Leonard is a personal song that talks about the great challenges of humanity. The poem first starts off saying that people are very free but still confined by comparing us to birds on a wire. Then the song talks about making mistakes and hurting people but always trying make it up. I believe that this is a sad song about feeling out of luck and down‚ and always trying to find yourself from within. I personally really enjoyed the message the second verse was trying
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