Illustration 11-2 appears to be appropriate for the year December 31‚ 2014. Nevertheless‚ some students may have issues a “qualified” report for some perceived reason. If so‚ it should use the wording specified in audit guide‚ although most probably will not use the exact wording specified. If not‚ this will provide you with an opportunity to explain to the student why the specified report wording is critical to an auditor. An unqualified audit report on the City of Smithville should appear as follows:
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Auditing and Assurance – Assignment 1 Ashley Erasmus With reference to Caltex Australia 2012 Annual Report discuss the following: The role and responsibilities of Auditors and Company Board of Directors and the CEO and Senior Management with respect to the Accounting information reported on in the Annual report. The roles and responsibilities of a Board of Directors vary according to the nature of the company. They are usually responsible for determining the strategic direction of the business
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THE MARKETING AUDIT PROCESS How is a marketing Audit conducted? We recommend that the following simple three-step procedure be followed when carrying out a marketing audit. 1. Setting the Objectives and Scope The first step calls for a meeting between the student (the auditor) and a company officer(s) to explore the nature of the marketing operations and the potential value of the marketing audit. If the company officer is convinced of the potential benefits of the marketing audit‚ he and the
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| | |2. |Determining the Need to Use the Work Of an Expert | | |3. |Objective of the Expert | | |4. |Reference to an Expert in the Auditor’s Report |
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code of conduct that is integral to his profession and the public’s trust in it. 2. There are numerous procedures that an audit firm must perform before accepting an audit client: a. Firstly‚ review the reason why the company is looking for a new auditor or why it needs to start being audited. b. Review business structure of the client (look for red flags) c. Review client’s past history‚ including its legal history‚ tax problems‚ litigations‚ regulatory actions‚ etc. Ensure that the firm only
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Completing the Audit Concepts: Nature of a balance sheet approach to the audit & implications for auditing the income statement * Obtain sufficient‚ competent‚ evidential matter for all balance sheet accounts * Note that if all balances are fairly stated‚ and the balance sheet balances‚ then Retained Earnings must be correct * If Retained Earnings is correct‚ then the Income Statement’s net income cannot be materially in error * Therefore‚ less work is done auditing the income
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Hook: The way to fitness is not a simple one‚ especially not within your body. Fitness requires exercise and exercise requires oxygen‚ and nutrients to the muscles. The cardiovascular system is the means of which oxygen and nutrients travel to the muscles. The more efficient that oxygen distribution in your body is‚ the more fit you are‚ which means that your heart is effectively delivering oxygen throughout your body. When you are fit‚ your body can move more oxygen per pump than if you
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Humans are born with the ability to dream and hope for something better. It is what we do afterwards that determines the outcome. A dream without action is just fantasy. The action is the means to achieve those hopes and dreams. For some people‚ the belief in our dreams and hopes gets lost through the years. So how do we get back on track and accomplish at least a few of those dreams? The first step is to realize that our dreams are still within reach. It starts with a clear understanding of the
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AUDIT EXPECTATIONS GAP Definition i) Liggio (1974a) defines it as the difference between the levels of expected performance as envisioned by the independent accountant and by the user of financial statements. The Cohen Commission (1978) on auditors’ responsibility extended this definition by considering whether a gap may exist between what the public expects or needs and what auditors can and should reasonably expect to accomplish. ii) According to Guy and Sullivan (1988)‚ there is a
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in many ways. In Hope Jahr’s speech‚ she proves her message of what kind of work she does by getting the audience to think from another perspective by using comparison throughout. She is getting the audience to view the world and their surroundings in her eyes‚ as a scientist‚ and make connections to everyday life. Those listening to Years message‚ who do not have an understanding of her job‚ can now open their eyes and realize the importance of what she is conveying. While Years starts her prologue
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