Q1 - What is the relationship between the risk assessment process and the collection of audit evidence? The risk assessment process happens at the very beginning of the engagement and is to determine the level of risk present in the company. The risk assessment phase is when the auditor assess the client’s situation‚ conducts an independence threat analysis and decides whether to accept the client or not. The risk assessment is influenced by various factors such as the degree to which external
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The Demand for Audit and Other Assurance Services O ssu a S s Chapter 1 ©2012 Prentice Hall Business Publishing‚ Auditing 14/e‚ Arens/Elder/Beasley Arens/Elder/Beasley 1-1 SarbanesSarbanes-Oxley Act Enron WorldCom The Act established the Public Company Accounting Oversight Board. It also requires auditors to report on the effectiveness of internal control over financial reporting. ©2012 Prentice Hall Business Publishing‚ Auditing 14/e‚ Arens/Elder/Beasley Arens/Elder/Beasley 1-2
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Accounting Education: an international journal Vol. 20‚ No. 2‚ 203– 222‚ April 2011 Adding Value to Audit Education through ‘Living’ Cases JULIE DRAKE University of Huddersfield‚ UK Received: November 2009 Revised: July 2010 Accepted: September 2010 ABSTRACT This paper seeks to address the perceived failure of university teaching to foster critical understanding of audit practice and to identify a potential remedy. It contributes to the debate (Maltby‚ 2001‚ “Second thoughts about ‘Cases in
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456 Chapter Eleven Appendix 11B Illustrative Audit Case: Keystone Computers & Networks‚ Inc. Part III: Substantive Tests—Accounts Receivable and Revenue This part of the audit case illustrates the manner in which the auditors design substantive tests of balances. The substantive tests are illustrated for two accounts—receivables and revenue. This aspect of the audit is illustrated with the following audit documentation: • ABC’s risk assessment working paper that combines the auditors’ assessments
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MEMO Date: February 17‚ 2014 To: Information and Communications Technology Center (ICTC) From: Janselle Myles Laragan‚ Nino Abenojar‚ Nicole Fenol‚ Rolex Dimapilis‚ Benjamin Seo Subject: IKOT La Salle Tracker Introduction and Recommendation In the past 6 years of implementing a jeepney transportation or also known as Ikot La Salle is very helpful in the University. Walking inside the campus in 27 hectares is not appropriate; students‚ faculty‚ and also visitors can ride in Ikot La Salle
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theft. D. Expected effectiveness of controls. 13. The risk that an auditor’s procedures will lead to the conclusion that a material misstatement does not exist in an account balance when‚ in fact‚ such misstatement does exist is referred to as A. Audit risk B. Inherent risk C. Control risk D. Detection risk 14. Evidential matter concerning proper segregation of duties ordinarily is best obtained by A. Preparation of a flowchart of duties performed by available personnel. B. Inquiring whether
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University Hospital Memo To: Pat Rowe‚ Vice President From: Yilin Zhang CC: Jon M. Werner Date: 5-Nov-13 Re: Technology Training Recommendations With the development of medical science and medical technology‚ high-tech medical devices‚ which come out constantly‚ help caregivers stay informed about new equipment and principles of work performance‚ safe use of new equipment‚ and other issues that are increasingly prominent. Meanwhile‚ the poor attitude of staff during training is also a big
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Analysis of Cisco _____________________________________________________________________ As you concerned‚ our company need to start report comprehensive income. I made several searches for that. In this memo‚ I will illustrate comprehensive income‚ FASB codification‚ and comprehensive income‚ locate and extract relevant information and authoritatively support for the financial report. Comprehensive Income & Net Income Net income shows a company’s total
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made the decision to purse an instant messaging program based on three factors: the increasing popularity of instant messaging‚ the need for a cost effective way to add frequency to the company ’s traditional marketing communications‚ and the need to prepare the company for online marketing tools (such as e-mail‚ becoming ineffective). Through advanced programming‚ RecipeBuddle is able to instantly recognize and respond appropriately to requests as chicken‚ no garlic. Furthermore‚ RecipeBuddle
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things can really give the customer an intense insight as to what our company is really capable of accomplishing. We look forward to seeing those pounds drop and smiles arise as your bodies begin to please you more and more each day. Project #2 Memo
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