internal auditing (also known as “management auditing”). You consider the definition‚ development‚ and scope of internal auditing. You also consider the business environment and identify and analyze its accompanying risks. The various types of internal audits and the relationship between internal auditing and performance measurement are explained. Finally‚ you study the role of professional ethical standards in internal auditing and review case analysis‚ a technique used frequently throughout this course
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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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reporting process. Auditors need to remember that they are serving the public interest and not the interests of client management. 1-2. The audit opinion formulation process is a systematic approach by which the auditor evaluates the risk of being associated with a client‚ through the process of gathering and evaluating audit evidence‚ to determining the type of audit opinion that should be rendered. The stages and outcome of each stage are as follows: • Assessing Client Acceptance and Retention:
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would now like to see a proposed audit schedule for these systems. The team will distinguish between the types of audits that may use for each process. The team will also recommend the most appropriate audit for each process and explain how to conduct the audits. Identifying events that may prevent reliance on auditing through the computer will also be presented to Kudler for review (Apollo Group‚ 2009). Types of Audits The types of information technology audits are attestation‚ findings and
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ARTICLE 9 D. COMMISION ON AUDIT Section 2-4 Section 2 The commision on audit has a power ‚ authority and duty ;the concept of examination ‚ auditing and settlement of accounts. Power and Functions of the Commision 1.To examine ‚ audit ‚ and settle accounts. 2.To act as central accounting office of the government. 3.To define the scope of its audit and examination. 4.To promulgate accounting and auditing rules and regulations. 5.To submit an annual financial report and recommend measures. 6
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The Strategic Audit Many companies begin their operation in different ways. Some companies start with a lot of capital and become successful‚ while others start with very little capital and still find success. However‚ once profitability has been achieved‚ it can be very difficult to maintain in the long run. One tool many managers use in order to keep operations running smoothly is the strategic audit. A strategic audit is used to compare current operations with ideal operating conditions.
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e-learning a decade ago‚ the ´MAL didactics´ is strongly required in the current process. For this purpose‚ the FRAME model is widely applied. It provides answers to basic questions on learners´ taking full advantage of the mobile exploitation‚ on designing materials and activities appropriate for mobile access‚ on the effective implementation of MAL into formal and informal learning etc. 12. The FRAME model describes how learners are moving from real to virtual environments and situations‚ they interact
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letter is to confirm our understanding of the terms of our engagement as the auditors of Oceanview Marine Company for the year ended December 31‚ 2014. We will audit the company’s balance sheet for December 31‚ 2014‚ and the related statements of income‚ retained earnings‚ and cash flows for the year then ended. The purpose of our audit is to form an opinion as to whether these statements are fairly presented in accordance with accounting principles generally accepted in the United States of America
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yer_detailpage&v=KBV-JHJcB7c&list=UUp_A9 126rB138FOGsdm90vw Types of Auditors • • • • • External auditors Internal Auditors Governmental Auditors Forensic Auditors Information Technology 2-4 Types of Audit‚ Attest‚ and Assurance Services Audit Services: Internal Control Audits‚ Compliance Audits‚ Operational Audits‚ Forensic Audits Attest Services: Reporting on nature and quantity of inventory stored in a company’s warehouse so that the company can obtain a bank loan Assurance Services: Auditing is a specialized
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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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