risks. Audit process (planning‚ audit evidence‚ audit reporting) 1. Planning Understanding the business and determining risk Assessment of the internal controls Determining ‘significant risks’ for which special audit attention needs to be focused 2. Evidence gathering Tests of controls Substantive tests 3. Formation of the audit opinion Planning Risk identification what approaches/ procedure the auditor needs to adopt to reduce audit risk. Plan- so that audit will be performed in an effective
Premium Auditing Internal control Risk
CHAPTER 1 AUDITING AND THE PUBLIC ACCOUNTING PROFESSION – INTEGRITY OF FINANCIAL REPORTING |LEARNING CHECK | 1. SEVERAL COMMON ATTRIBUTES OF ACTIVITIES DEFINED AS AUDITING ARE (A) SYSTEMATIC PROCESS‚ (B) OBJECTIVELY OBTAINING AND EVALUATING EVIDENCE‚ (C) ASSERTIONS ABOUT ECONOMIC ACTIONS AND EVENTS‚ (D) DEGREE OF CORRESPONDENCE‚ (E) ESTABLISHED CRITERIA‚ (F) COMMUNICATING THE RESULTS‚ AND (G) INTERESTED USERS. 2. A financial statement audit involves obtaining
Premium Audit Auditing Financial audit
Points Received: 2 of 2 Comments: 2. Question : (TCO 4) The principal issue to be resolved in cases involving alleged negligence is usually: Student Answer: the amount of the damages suffered by plaintiff. whether to impose punitive damages on defendant. the level of care exercised by the CPA. whether defendant was involved in fraud. Instructor Explanation: Page 119 Points Received: 2 of 2 Comments:
Premium Balance sheet Annual report Financial statements
an amount due from another party two of the most common are: Accounts Receivable &Notes Receivable others are: interest receivable‚ rent receivable‚ tax refund receivable‚ and receivables from employees Accounts Receivable- are amounts due from customers for credit sales when a company does extend credit directly to customers it: 1. Maintains a separate account receivable for each customer 2. accounts for bad debts from credit sales Recognizing Accounts Receivable: AR occurs from
Premium Accounts receivable Balance sheet Money
CHAPTER 1: Morality‚ Ethics‚ and Human Behavior Ethical issues exist in all areas of criminal justice system (from passage of laws to punishment) Criminal justice professionals have discretion Legislators: in making laws Police: in enforcing laws Attorneys and Judges: affecting justice process Correctional Professionals: affecting offenders lives What do criminal justice professionals have in common? power to make decisions duty to enforce the law obligation to provide
Premium Ethics Morality Philosophy
Philosophy Class Session 2 08/29/11 Chapter 1 and We Think Catholic Prof article page 1-39 page 7 Quotes “The beginning of wisdom is to desire it” ~ Solomon Ibn Gabirol “He who knows he is a fool is not a great fool” ~ Confucius Wisdom vs Knowledge‚ the smartest guy in the room might not be the wisest‚ but the wisest man is often just ordinary in everything else. Compare? Wisdom to knowledge as a librarian is to a library. I. Pursuit of Wisdom A. “Get in the game” - more
Premium Logic Reasoning Reason
Psychology Notes Chapter 1: Introduction to Psychology Psychology is the scientific study of behavior and mental processes -What can you see(behavior) -What you cant see(mental processes) -Describe predict explain behavior and mental processes using the scientific method Subfields of Psychology -Biological Foundations (Behavioral Neuroscience) seek relationships between brain and behavior and mental processes‚ role of heredity‚ evolution -Experimental Psychology (Cognitive Psychology)
Premium Nervous system Brain Neuron
CHAPTER 15 Multiple-Choice Questions 1. easy A sample in which the characteristics of the sample are the same as those of the population is a(n): b a. variables sample. b. representative sample. c. attributes sample. d. random sample. 2. easy When the auditor decides to select less than 100 percent of the population for testing‚ the auditor is said to use: a a. audit sampling. b. representative sampling. c. poor judgment. d. none of the above. 3. In practice‚ auditors
Free Sampling
Econ 101: Micro Economics 09-‐16-‐10 Chapter 2: The Economic Problem The production possibility Frontier -‐ The boundary between those combinations of goods and services that can be produced and those that cannot -‐ Shows the trade-‐off between more of one good in terms of the other o PPF looks
Free Economics
Chapter 2 Declaration of Independence July 4‚ 1776 2 central themes All men are created equal Gov’t must be based on the govern (citizens) Continental Congress 1st was on May 1776 Had each colony make their own constitution Popular sovereignty was referenced a lot Belief that the gov’t exists to benefit the govern Citizens have the right to change/overthrow the gov’t Created a Republic form of gov’t Representative Citizens elect people to represent them 2nd Established our first
Premium United States Constitution