References: Antle‚ R.‚ and B. Nalebuff. 1991. Conservatism and auditor-client negotiations. Journal of Accounting Research 29 (Supplement): 31–59. Arens‚ A.‚ and J. Loebbecke. 1997. Auditing: An Integrated Approach. 7th edition. Englewood Cliffs‚ NJ: Prentice Hall. Ayers‚ S.‚ and S. E. Kaplan. 1998. Potential differences between engagement and risk review partners and their effect on client acceptance judgments. Accounting Horizons 12
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Internship Report On Auditor’s Independence: A Study on ACNABIN‚ Chartered Accountants Auditor’s Independence A Study on ACNABIN-Chartered Accountants Firm Table of Content CHAPTERS PARTICULARS PAGES Chapter -1 Introduction 1.1 Introduction 1.2 Background 1.3 Scope of the Study 1.4 Objectives of the Study 1.5 Methodology of the Study 1.6 Limitation of the Study Chapter-2 Literature Review 2.1 DEFINITION OF AUDIT 2.2 Understanding
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When you use this revision guide‚ please remember these following rules: 1. This is just a guideline. It only intends to improve your revision process. It certainly does not intend to cover everything in the exam. It is very possible that some questions‚ which are not covered in this revision guide‚ may appear in the exam. 2. You should refer primarily to other material‚ such as textbook‚ lecture notes and class exercises. 3. When you use this guideline‚ try to understand the fundamental
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Ethics‚ Criminology‚ etc. Investigation plays a pivotal role in Forensic Accounting. It is the flavour of investigation that demarcates it from the conventional accounting practices. In wide sense‚ it can be identified as integrity of accounting‚ auditing and investigative skills to secure a particular result. Forensic accounting in Indian context Maurice E. Peloubet coined the term Forensic Accounting in 1940. In India Forensic Accounting is still in nascent stage and it becomes very difficult
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CHAPTER 1—INTRODUCTION TO FINANCIAL REPORTING MULTIPLE CHOICE 1. Charging off equipment that cost less than $20 would be an example of the application of: a.|going concern| b.|cost| c.|matching| d.|materiality| e.|realization| ANS: D 2. The going concern assumption: a.|is applicable to all financial statements| b.|primarily involves periodic income measurement| c.|allows for the statements to be prepared under generally accepted accounting principles| d.|requires that accounting
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ACC 555 - Auditing & Assurance Services You Decide Project February 23‚ 2013 Professor Brandy Havens Q1. Discuss how the SEC has influence (if any) over the audit of Smackey Dog Foods‚ Inc. Smackey Dog Foods‚ Inc. is not a publicly traded company‚ but the SEC has a direct influence on their audit. Keller CPA’s will need to follow the generally accepted auditing standards put forth by the SEC. Keller CPAs need to remain independent of the client and stay free
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AUDIT PLANNING Audit planning procedures are the first and perhaps the most important step in carrying out a successful audit. Without adequate planning‚ the likelihood of missing a significant risk area or encountering engagement-related problems increases considerably. As baseball great and noted philosopher‚ Yogi Berra puts it‚ “If you don’t plan on where you are going‚ you could end up someplace different!” All too often the auditor does not give adequate attention to audit planning for a vast
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sheet date: xx/xx/xx Date: 01/01/2012 Raj‚ The following memo addresses the risk assessment of one our clients‚ Gold Explorer Inc.; a major public Canadian gold mining company. The firm has been auditing this company for the past 8 years‚ in which very few misstatements were discovered and where management integrity was never a concern. However‚ in this fiscal year‚ the audit of Gold Explorer Inc will be more challenging because of increases in inherent
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Classes of Assertions: Classes of Transactions and Events for the Period Occurrence: transactions that have been recorded have occurred Completeness: All transactions and events that should have been recorded have been recorded Authorization: All transactions and events have been properly authorized Accuracy: Amounts have been recorded properly Cutoff: Transactions and events have been recorded in the correct accounting period Classification: transactions and events have
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investment or takeover b. Reduce costs of listing on foreign exchanges c. Increases foreign investor confidence 2. Internal users d. Reduce cost of consolidation reporting e. Simplifies auditing f. Increases mobility (and therefore utility) of accounting personnel 3. Increase the quality of accounting practice internationally C. Arguments AGAINST harmonization 4. Difficulties due to nationalism
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