Hoang Thi Thanh Ha – 13200154 Auditing Assignment 2: 1.What are the factors to consider Inherent Risk? Inherent risk is a measure of the auditor’s assessment of the likelihood that there are material misstatements in a segment before considering the effectiveness of internal control. Factors affecting assessment of inherent risk include: Nature of the client’s business : Industry practices Non-routine transactions Makeup of the population Audit experience : Results of previous audits Initial vs
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Auditing Theory 1. A control which relates to all parts of the EDP system is called a(n) a. Systems control c. Applications control b. General control d. Universal control 2. Which of the following is not an output control? a. Proper authorization of transaction b. Control totals c. Check digits d. Adequate documents 3. Should the auditor feel‚ after obtaining an understanding of the EDP internal control structure‚ that
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Did you know that $11.5 billion is spent every year just to clean up litter alone? People don’t realize that by cutting down littering this money can be used to help the population in many other ways. Research and studies have shown that communities and neighborhoods with a lot of litter decrease the value of the property in those regions by as much as 7% (www.litteringfacts.com). By having a cleaner city more businesses are interested in making an investment and tourists are more likely to pay a
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materiality threshold for the engagement? 25. The Code of Professional Conduct derives its authority from the A) Securities and Exchange Commission. B) Bylaws of the American Institute of CPAs. C) Financial Accounting Standards Board. D) Auditing Standards Board. 26. The chief (internal) audit executive should have direct reporting access to the audit committee‚ and the committee should oversee the activities and budget of the internal audit function. A) True B) False 27. The AICPA Principles
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Arayawna Moore @02585360 Auditing I 09/20/10 CHAPTER 1 1-14 A. 3 B. 2 C. 2 D. 3 1-15 A. 2 B. 3 C. 4 D. 3 1-21 1) IRS‚ compliance audit 2) GAO‚ operational audit 3) CPA‚ operational audit 4) Internal‚ financial statement audit 5) GAO‚ operational audit 6) CPA‚ financial statement audit 7) GAO‚ financial statement audit 8) IRS‚ compliance audit 9) Internal‚ financial statement audit 10) IRS‚ compliance audit 11) Internal‚ financial statement audit 12) GAO‚ compliance
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evaluate the effectiveness of accounting system‚ business methods for detection for fraud and planning and conduct of an audit process as well as purpose and content of a statutory audit report of Tesco Supermarket. Past failures in the process of auditing financial
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Auditing Theory College 1: Het waarom van de accountantscontrole Agency theorie: De agency theorie legt de relatie tussen de 3 perspectieven uit. De drie partijen zijn‚ namelijk de principaal (investeerder)‚ agent (management)en monitor (accountant). De agency costs nemen relatief meer toe dan dat het aandelen bezit van de manager afneemt. Daarnaast kunnen de agency costs die groei begrenzen door dat eventuele investering niet gedaan kunnen worden. Je kan er van uit gaan dat de agency costs een negatieve
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Just Jump By: I scrambled after my sister‚ giddy anticipation clutching my stomach. I slid down the rock‚ loosing gravel and creating a trickier path. I stumbled and slipped clumsily and fell on my hands and knees at the bottom. “This way!” My sister called‚ motioning with her hand for me to follow. I pulled myself to my feet‚ nervous excitement chasing away the stinging I felt in my hands and knees. Brushing the biting gravel from my hands and pants I followed like a lost
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| |REGISTRATION NO. |3052 | |UNIT TITLE |Unit 11: Financial Systems and Auditing | |ASSIGNMENT TITLE |Accounting and Management Control Systems | |ASSIGNMENT NO |1 of 2
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Throughout Under the Feet of Jesus by Helena Viramontes‚ the struggles of Estrella and her family have a sobering effect‚ demonstrating the hardships that migrant workers endure. Near the end of the novel‚ when Alejo was takin to the clinic and tended to by a nurse‚ Estrella has an epiphany‚ a defining moment. “Estrella had figured it out: the nurse owed them as much as they owed her." This revelation is in my opinion one of the most important aspects of the book. In modern day America‚ most of
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