. . . . . . . . . . . . . 5.5 Collins Harp Enterprises 5.6 Sarbox Scooter‚ Inc. 5.7 Société Générale Recommending IT Systems Development Controls . . . . . . . . . . . . . . . . . . . . . . . . . Scoping and Evaluation Judgments in the Audit of Internal Control over Financial Reporting . . . . . . . . . . . . . . . . . . . . . . . . . . . . How a Low-Risk Trading Area Caused a $7.2 Billion Loss instructor resource Manual — do not coPy or redistribute instructor resource Manual
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Nevertheless‚ some students may have issues a “qualified” report for some perceived reason. If so‚ it should use the wording specified in audit guide‚ although most probably will not use the exact wording specified. If not‚ this will provide you with an opportunity to explain to the student why the specified report wording is critical to an auditor. An unqualified audit report on the City of Smithville should appear as follows: The Honorable Mayor‚ City Council‚ and City Manager‚ City of Smithville We
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Chapter 1 – The demand for an Auditing and Assurance Profession Key Services for Public Accounting Firms Audits High Assurance (95% - 99%) Reviews Moderate Assurance (60% - 70%) Compilation Low to No Assurance (0% - 10%) Assurance Engagements (Triangle diagram based on the subject matter at hand) Practitioner (Auditor) Users Accountable Party (Management) Practitioners give the Users a written conclusion Accountable party must have an accountability relationship with the Users
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Q1. Components of H.R. developmental audit? ANS: There are three components:- 1: Organization and admin of H.R The organization of H.R office SOP and internal control features Admin retention rights‚ notice‚ matrix and outplacement practices Communication and appointment authorities 2: information management through documentation Personnel documentation Documenting: • Hiring‚ Working and leave information • Compensation benefits and perks • Employee profile • Performance
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udit 22-31 a. The audit program for the audit of Rakin Corporation’s capital stock account would include the following procedures: 1. Examine the articles of incorporation‚ the bylaws‚ and the minutes of the board of directors from the inception of the corporation to determine the provisions or decisions regarding the capital stock. the authorization for the sale of new issues or additional sales of unissued stock‚ declarations of stock splits and dividends in the form of cash
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histSort=R&mode=H&searchMode=B&articleSearchSequenceNumber=12097531&pageNr=0 Accessed at 21/2/2008 KPMG‚ (2005) Inter audit 2005: A survey of current practises in Ireland: http://www.iia.org.uk/download.cfm?docid=055DABEC-24A8-4734B48114141D3BD68CA Accessed at 21/2/2008 OECD‚ (2004) OECD principles of corporate governance: http://www.oecd.org/dataoecd/32/18/31557724.pdf Accessed at 20/2/2008 Paape‚ L‚ Scheffe‚ J‚ Snoep‚ P (2003) The relationship between internal audit function and corporate governance in the EU – a survey: http://www.swetswise
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Compare Mac OS and Windows 1. Introduction a- Windows [pic] Microsoft Windows is the name of the software operating system monopoly of Microsoft Windows has many different versions as: Windows CE‚ Windows XP‚ Windows Server 2003‚ Windows Vista‚ Windows 7‚…. b- Mac [pic] Mac OS (short for Macintosh Operating System) is the operating system with the window and was developed by the company to Apple Computer Apple Macintosh computer. Mac has many different versions
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TYPES OF AUDITS Operational PURPOSE: To evaluate whether operating procedures are efficient and effective USERS: Management of the organization NATURE: Highly non-standard; often subjective FREQUENCY: PAs: Frequently AGs: Frequently CRA: Never Internal: Frequently Compliance PURPOSE: To determine whether the client is following specific procedures set by higher authority USERS: Authority setting down procedures‚ internal or external NATURE: Highly non-standard; often subjective FREQUENCY: PAs:
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Social Audit A social audit is a business statement presented annually to understand‚ measure‚ report and improve the organization ’s social and ethical performance. Usually‚ social audit is addressed to employees‚ investors‚ market analysts‚ shareholders and lastly‚ the community. This is considered to be the main ground for practicing corporate social responsibility. With social audit‚ it strengthens the relationship between company‚ society and environment and at the same time showing the
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which were approved. d. 2 of the declined transactions were perfect rounded numbers $20 and $30 unlike the other transactions b. Additional analysis that I would recommend to be performed and to obtain other indicator to help plan the audit e. List the details of the 2 declined transactions that were exact round numbers f. Add employee details in the transaction list g. Expand the time scope of the first report to coincide with the second report h. Get the
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