Assignment 1 Name: Leung Hiu Ting Student no.10348622 Course : Auditing a. Outline the main reasons for a company requiring an external audit. Nowadays‚ a lot of company’s ownership and management is separated. It had major influences for auditing. Shareholders were concerned that their funds may not be used in proper ways to maximize the value of the company by appointed managers. For example‚ management may distort or withhold material information in their financial statements for personal
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Recovery & recycling of PET The EU Packaging and Packaging Waste Directive The European Union‚ with the adoption of its Packaging and Packaging Waste Directive‚ 94/62/EC as amended by 2004/12/EC‚ is legislating for more effective recovery of used packaging and for the reduction of the impact of packaging on the environment. a) More effective recovery Recovery of PET packaging falls under the requirements for recovery and is classed together with other plastic materials in the targets laid
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natural disasters on account of its unique geo-climatic conditions. Floods‚ droughts‚ cyclones‚ earthquakes and landslides have been a recurrent phenomenon. About 60% of the landmass is prone to earthquakes of various intensities; over 40 million hectares is prone to floods; about 8% of the total area is prone to cyclones and 68% of the area is susceptible to drought. In the decade 1990-2000‚ an average of about 4344 people lost their lives and about 30 million people were affected by disasters every
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balances are appropriately disclosed. Therefore of the 5 assertions and audit objectives listed above the 3 assertions applicable to direct test of cash balances are Existence‚ Completeness and Valuation. b) List 4 audit procedures to use in auditing cash. (4 marks) SOLUTION: Because of the large volume of transactions and the small account balance‚ the audit strategy is invariably to concentrate on verifying the account balance rather than the transactions. Moreover‚ because of the significance
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Part I: Pulse Rate Take your pulse at the wrist‚ as described on the Work Out tab of 4.02‚ and record it below. Your count for 30 seconds ___ x 2 = ___ bpmDay 1 _____Day 2 _____Day 3 _____Total _____ divide by 3 = _____ This is your Resting Heart RateObtain your Maximum Heart Rate (MHR) by subtracting your age from 220. Example 220 – 21 = 199 1. Subtract your resting heart rate (RHR) that you calculated in Part II above from the maximum heart rate (MHR) that you just determined in Step
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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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5-52 Trend analysis‚ common-size financial statements‚ and ratios are presented for the Brody Corporation in Figure 5.4. Assume that you are auditing Brody ’s financial statements for the year ended 12/31/X8. You have performed tests of controls over the recording of gross sales and believe that the system is operating effectively and that 7 percent represents an accurate estimate of the increase in gross sales for 20X8 over the amount for 20X7. You should also assume that the financial statements
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Kudler Accounting System Paper Darrell L. Jones BSA/310 February 8‚ 2014 Sharon Foreman‚ PHD Kudler Accounting System Paper Introduction This paper is designed to show and describe the importance of a new accounting system that is desperately needed by Kudler Fine Foods. The company is continuing to grow in revenue‚ but the accounting system is not able to keep up with the growth of the company. Due to the growth of the company Kudler management should consider integrating a more
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announced that economic recovery in the United States “Will be measured in years‚ not months” (Spillius). Three days later the American Recovery and Reinvestment Act of 2009 was signed in Denver‚ Colorado signaling the largest economic undertaking in US history. Whether aid comes in the form of tax cuts or governmental spending programs‚ the urgency of the situation is now more evident than ever because of the recession and its effects on Americans. The American Recovery and Reinvestment Act of 2009
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Active Directory Recovery Planning for Small and Large Organizations By Alan Klietz Algin Technology LLC Algin Technology Copyright © 2007 Algin Technology LLC. All Rights Reserved. Microsoft® Windows® and Active Directory® are registered trademarks of Microsoft Corporation. All other trademarks are the property of their respective owners. Algin Technology LLC 3055 Old Highway 8‚ Suite 35 Minneapolis‚ MN 55418 E-mail: sales@algintech.com Telephone: +1 866 488 6657 +1 612 235 2100 Fax: +1
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