BA (HONS) ACCOUNTING & FINANCE BA (HONS) PROFESSIONAL ACCOUNTING PROFESSIONAL ACCOUNTANCY COURSE YEAR 3 AUDIT & ASSURANCE 1 INDIVIDUAL ASSIGNMENT BRIEF HAND OUT DATE: 5th October 2011 HAND IN DATE: INSTRUCTIONS FOR COURSEWORK You are required to research and prepare a report based on one of the following topics. Please seek the assistance of the module leader Ivor Pingue and your seminar tutors for help and guidance with your coursework. Do not leave the research too late
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CONTROLS IN AN EDP ENVIRONMENT The second standard of field work requires that we obtain a sufficient understanding of the client’s internal controls (I/C) to plan the audit and assess control risk. We hope that our assessment of control risk shows it to be low so that we can reduce substantive testing‚ thereby reducing audit costs. When EDP is used in significant accounting applications‚ then you must consider the effects the computer has when evaluating the internal controls. The auditor’s
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Audit Objectives: a. Determining that cash on hand as shown in the general ledger is represented by currency and coins on hand. b. Determining ownership and proper accountabilities c. Ascertaining that cash balances are available without restrictions. Audit Procedures: a. Examination of cash proof sheets and tracing of their totals to the general ledger b. Test tracing of deposit or withdrawal slips to individual subsidiary ledgers and vice
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Elements / Characters Crisostomo Ibarra - Also known as Juan Crisostomo Ibarra y Magsilan‚ a Filipino who studied in Europe for 7 years. The love interest of Maria Clara. Son of Don Rafael Ibarra. Elias - Ibarra’s mysterious friend and a fugitive. Kapitan Tiyago - Also known as Don Santiago de los Santos the known father of Maria Clara. Padre Damaso - Also known as Damaso Verdolagas‚ a Franciscan Friar and Maria Clara’s biological father. Padre Salvi - Also known as Bernardo Salvi. Maria Clara’s
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(independence‚ competence‚ etc.) typical to the specific engagement can be met. Client acceptance and continuance procedures are the foundation of the risk assessment process‚ primarily at the financial statement level. Management ’s integrity is one of the elements of risk at the financial statement level. High risk at the financial statement level requires more evidence to mitigate the risk. Low risk requires less evidence. As adapted from a lately published weekly review‚ “SQCS No. 8‚ effective January 1
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Appendix D Checklist for Review of Attestation Engagements Performed by the Office of Inspector General This Appendix includes guidance for reviewing the Office of Inspector General’s (OIG’s) attestation engagements conducted in accordance with Government Auditing Standards (GAS)‚ Chapter 6‚ and the American Institute of Certified Public Accountants’ (AICPA’s) Statements on Standards for Attestation Engagements (SSAE). When an auditor conducts an attestation engagement under generally accepted
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Diversity in the Workplace Professor Matthew Quinn December 8‚ 2013 Diversity Audit Company to Audit: Johnson And Johnson This diversity audit begins with a background about the company‚ as well as some important information about key Diversity executives. What will be addressed in the audit are what efforts Johnson & Johnson made to foster diversity competence and understand‚ what efforts were made in furthering the knowledge or awareness about diversity‚ what strategies were used to
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Question: Define audit and accounting risk‚ give 3 specific example of each type of risk and explain why they are called audit and accounting risk. * Accounting risk is the risk that errors associated with forecasts used in GAAP accounting estimates are not properly disclosed. Accounting risk is primarily the responsibility of accounting standards. It is dealt with only indirectly in accounting standards. For example: * Bad debts on loans had an historic rate of 1% of outstanding loans
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How to Conduct Tax Audit – Part 1 Analysis of Certain Clauses Audit under Section 44AB of the Income Tax Act By Raman Jokhakar‚ Chartered Accountant Objective To understand the purposes of this Form To learn nuances of the clauses To understand audit risk To effectively carry out attestation To document adequately To disclose standard notes‚ limitations and stands To know inter links between clauses To be aware of important stands taken by Courts To understand the objective of the
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AUDIT QUALITY A BRIEF DISCUSSION REGARDING THE QUALITY OF ASSURANCE AND AUDIT Student ID: 1204335 Xiaoyu ZHENG AUDIT QUALITY A BR IEF D ISC US SI ON R EGAR D IN G THE QUAL IT Y OF A S SUR A N CE AN D A UD IT A INTRODUCTION uditing has inevitably become one of the essential activities in the current business world. It may be attributable to the fact that financial reports still remain the major criteria in evaluating the performance of the business. Audit quality refers to different
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