25. Fraud is an intentional act involving the use of deception that results in a material misstatement of the financial statements. The two types of misstatements that are relevant to auditors are: The misstatement arising from misappropriation- this occurs when someone steals or misuses an organizations assets. Perpetrators are usually employees and occur when they gain access to cash or cash disbursement accounts and can manipulate them. Misstatement arising from fraudulent financial reporting-
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positive lifestyle. Happy Feet Soul Line Dance Group will serve the Tampa Bay Area. We will help individual to learn to dance through line dancing while improving their health. There is not a line dance studio for people‚ who want learn to line dance and meet other people who have similar interest. African-Americans suffer from high blood pressure‚ hypertension‚ diabetes‚ and heart disease‚ line dance give them the opportunity to improve these health issues. Happy Feet Soul Line Dance Group vision
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theme of "The Family of Little Feet" is coming of age. This is evident because when they put on the shoes people on the street call them ladies and they describe their legs that are not theirs but a woman’s‚ "On the avenue a boy on a homemade bicycle calls out: Ladies‚ lead me to heaven."‚ "But the truth is it is scary to look down at your foot that is no longer yours and see attached a long long leg" The tone of the passage is playful and innocent because they are just playing‚ like dressing up. "Hurray
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Case You are the internal audit senior responsible for conducting an assurance engagement of the XYZ Company payroll process. This process has not been audited for three years and‚ as such‚ is due in the normal audit cycle. There have been no significant changes since the previous audit‚ that is‚ there were no system changes‚ no reorganization of personnel‚ and no substantive procedural changes. However‚ during the last assurance engagement‚ the internal audit function identified several observations
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9.19 Assertions Background information Existence or occurrence: -assets or liabilities of the entity exist at a given date and whether recorded transactions or events have occurred during the period Completeness: -transactions‚ events and accounts that should be presented in the financial statement are included Cut-off -all transactions‚ events and accounts have been recorded in the correct period Right and obligations: -assests represent rights of the entity and liabilities are the obligations
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Traffic Volume Counts Prepare Select Location Complete Study 1. 2. 3. 4. Communicate with other staff/departments Review historical data trends Review citizen input Request traffic control 1. Select the proper location 2. Plan the data collection preparations 3. Complete the pre-study documentation 1. Collect the data 2. Evaluate the data 3. Calculate the traffic volume trends Document 1. Finalize the report 2. File the report 3. Communicate the results INTRODUCTION
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were the hardest years. I studied Chinese‚ Use of English‚ Chinese History‚ Geography and Economics in AL. In the summer before the AL exam‚ make-up classes and tests were full of my schedule. I have to say that it was so tired. The pressure was just pushing me away from the books and notes; I didn’t want to face it. I still used all my effort and time to prepare for the tests at school; finally‚ there was no extra time for me to seriously follow my AL study plan. The mock exam was prepared in
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Final Exam Review Practice Case IPI Case: Required: 1. Identify Accounting System Issues System implementation Lack of training I: people try to override the system‚ inaccurate reporting R: The company who 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
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The Auditing Process INTRODUCTION Auditing is defined by the American Accounting Association or AAA as “a systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions and events to ascertain the degree of correspondence between those assertions and established criteria and communicating the results to interested users” (cited in Turney et al p. 108). From that definition‚ it is evident that the auditing process consists of three elements: evidence
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Auditing Introduction Letter Mahshid Kianipour Instructors: Cecil B. Lucy November 15‚2010 University of Phoenix Auditing Introduction Letter From: Langroodi‚ CPA To : Management of Apollo Shoes‚ Inc. RE: Auditing and assurance services Dear Mr. Jason‚ First‚ I would like to appreciate to giving me this opportunity to explain a couple points related to our firm and services‚ so then I’ll try to make them understandable and short as much as I can; because I know how valuable
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