1 Auditing issues in Enron case Independent Needed for the Houston office of Andersen‚ an audit partner that understands the role of being a "public watchdog" with "ultimate allegiance to the creditors and shareholders" . Arthur Anderson abandoned its roles as independent auditor by turning a blind eye to improper accounting‚ including the failure to consolidate‚ failure of Enron to make $51million in proposed adjustments in 1997‚ and failure to adequately disclose the nature of transactions with
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Sociological Character Analysis: Randy From a sociological perspectives as to why Randy gets in trouble so often this could be related to his race‚ his lack of real family and growing up in the system‚ his lack of education‚ and his lack of money. In the Wire you see the teachers and principal use this against him by threatening to call his foster mom unless he gives them the information they want‚ such as‚ who has been graffitiing school property. His lack of money is what reluctantly drives him to do
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Credits (Book ID: B1211) Assignment Set- 1 (60 Marks) Note: Each Question carries 10 marks. Answer all the questions. Q1. Explain the use of Sampling technique in Internal Audit ( SA500) Q2. Discuss‚ in brief‚ the advantages and limitations of auditing. Q3. Discuss the main scope and objects of internal audit? Q4. As a senior audit assistant of M/s. Asutosh Associates‚ you are in charge of internal audit team of M/s Rajesh Technologies involved in the manufacture of plastic tubes. From the information
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Solutions for Chapter 2 True/False Questions 2-1 F 2-2 F 2-3 T 2-4 F 2-5 T 2-6 T 2-7 F 2-8 T 2-9 F 2-10 T 2-11 T 2-12 F Multiple Choice Questions 2-13 B 2-14 B 2-15 B 2-16 E 2-17 D 2-18 C 2-19 C 2-20 D 2-21 A 2-22 D 2-23 E 2-24 B Review and Short Case Questions 2-25 Fraud is an intentional act involving the use of deception that results in a material misstatement of the financial statements. Two types of misstatements are relevant to auditors’ consideration
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Auditing Chapter 2 and 3 Chapter MC 2 2.26 - 2.29 Q 65‚ 70(I) 2.26) Which of the following categories of principles is most closely related to gathering audit evidence? A. Performance 2.27) Which of the following is not related to ethical requirements of auditors? D. professional judgment 2.28) One of an accounting firm’s basic objectives is to provide professional services that conform to professional standards. Reasonable assurance of the achieving this objective can be obtained by the
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References: A Arens‚ R. Elder‚ M. Beasley (2010). Auditing & Assurance Services and Integrated Approach. NJ: Prentice Hall. Chapter 7--Accepting the Engagement and Planning the Audit. http://ruby.fgcu.edu/courses/cpacini/courses/acg4632/ch7audnotes.pdf Chapter 16 Completeing the Tests in the Sales and
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Dell case According to the 10-K filed on 30/13/2012 on Dell’s website‚ the following data has been appeared on the fiscal 2012 financial statement. Sales: 62‚071 Total Assets: 44‚533 Net income: 3‚492 Cash flows from operating activities: 5‚527 Number of employee: 2012 109‚400(106700 regular employee and 2‚700 temporary employee) 2011 103‚300(100‚300 regular employee and 3‚000 temporary employee) 39‚900 located in USA and 66‚800 in other countries Dell’s products Dell’s products
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[pic] ACCTG 312 FC 2011: Assignment 1 Current issues – scandals in auditing Introduction • For this assignment‚ you are required to research and report back on one of four well known scandals that involve auditors in some way. • It can be commenced after week 1 lectures are completed‚ so gives you a chance to get part of your semester’s work done early. It is due in week 3 (Thursday at 4 pm). • You will also be required to very briefly report to your tutorial group on one interesting
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Auditing a Publicly Traded Company Share-based compensation are avenues used to give employees equity rights into a company. There are two types: stock options and restricted stock. The reasoning for employees to have share-based benefits‚ according to Basu (2014)‚ “is that if they all have a stake in the value of the company’s shares‚ they may try harder to drive sales‚ profits and other financial metrics that investors and research analysts look for in stocks” (para. 1). One of the main disadvantages
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ACC 235: Auditing EXHIBIT 4.53 Dunder-Mifflin‚ Inc.‚ Prior Year (Audited)‚ Forecast Current Year‚ Current Year Actual (Unaudited) Prior year Forecast Current Year Revenue and Expense: Sales (net) $9‚000‚000 $9‚900‚000 $9‚720‚000 Cost of Goods Sold 6‚296‚000 6‚926‚000 7‚000‚000 Gross Margin 2‚704‚000 2‚974‚000 2‚720‚000 General Expense 2‚044‚000 2‚000‚000 2‚003‚000 Depreciation 300‚000 334‚000 334‚000 Operating Income $360‚000 $640‚000 $383‚000 Interest
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